supporting smes: european commission policies …...2009/05/06 · european sme week, 6-14 may 2009...
TRANSCRIPT
European SME Week, 6-14 May 2009
Vilmos BudavariDG Enterprise and Industry
6 May 2009, Pula
Supporting SMEs: European Commission policies
and instruments
Contents
• SMEs in Europe• ‘Small Business Act’ for Europe• Competitiveness and Innovation
Framework Programme (CIP)• CIP financial instruments• Other services and tools supporting
SMEs• Contacts and Web links
EU and SMEs
• SMEs: firms with <250 employees and annual turnover of less than €50 million and/or annual balance < €43 million Small < 50 employees; Micro < 10 employees.
• 23 million SMEs in EU (99% of all enterprises). They account for about 67% of total employment.
‘Small Business Act’ for EuropeWhy?
• To improve the overall policy approach to entrepreneurship.
• To irreversibly anchor the “Think Small First”principle in policy-making.
• To promote SMEs’ growth by helping them tackle the remaining problems.
What does it include?• A package of concrete measures (legislative and
non-legislative).• A set of politically binding principles.
Legislative measures
• General Block Exemption Regulation on State Aids
• Regulation providing for a Statute for a European Private Company
• Directive on reduced VAT rates (locally supplied services)
In addition as part of the SBA:
• A legislative proposal to simplify rules on VAT invoicing
• An amendment to the Late Payments Directive
Non legislative measures include
• “SME test” to analyse impact of legislation on SMEs and specific measures for SMEs
• “Erasmus” for young entrepreneurs and for apprentices
• Easier access to finance: EIB funds for mezzanine finance
• Code of best practices on SMEs access to Public Procurement
• SME Week in Spring 2009
10 politically binding principles
1. Create an environment for entrepreneurs and family businesses to thrive and entrepreneurship to be rewarded.
2. Ensure that honest entrepreneurs who have faced bankruptcy quickly get a second chance.
3. Design rules according to the “Think Small First” principle.4. Make public administrations responsive to SMEs’ needs.5. Facilitate SMEs’ participation in public procurement and a better use of
State Aid possibilities for SMEs.6. Facilitate SMEs’ access to finance and support timely payments in
commercial transactions.7. Help SMEs to benefit more from the opportunities offered by the Single
Market.8. Promote the upgrading of skills in SMEs and all forms of innovation.9. Enable SMEs to turn environmental challenges into opportunities.10. Encourage and support SMEs to benefit from the growth of markets.
CIP structure - 3 pillars
Entrepreneurship &Innovation
(EIP)
€ 2 166m incl.€ 1 130m for fin.instruments€ 430 m for eco-innovation
ICTPolicy(ICT)
€ 728 million
IntelligentEnergyEurope
(IEE)
€ 727 million
SMEs
Eco-technologies
• Most important factors influencing SME growth: fiscal and social legislation and access to finance
• Banks are the financial institutions thatSMEs use most
• Most frequently used types of financing are leasing and overdrafts
• Only a few SMEs use venture capital
General remarks on SMEs’ access to finance in Europe
CIP financial instruments 2007-2013
Capacity Building Scheme (CBS)- Seed Capital Action �
SME Guarantee Facility (SMEG)- SME loan guarantee �- Microcredit guarantee �
- Equity and mezzanine guarantee �
- Securitisation of SME debt finance portfolios �
High Growth and Innovative SME Facility (GIF)- Venture Capital funds :
• Early stages �
• Expansion stages for innovative companies �- Co-investment in funds and investment vehicles promoted by
business angels �
Competitiveness and Innovation Framework Programme 2 007-2013
Access to finance
Formal Venture Capital Funds
Bank Loans & Guarantees
Entrepreneurs, Friends, Family
Business Angels
Public Stock Markets
HIGHER RISK LOWER RISK
SME development stage
Valley of Death
Seed & Early Stage Venture Capital Funds
Seed phase Start-up phase Emerging growth Development
Net
reve
nue Venture capital instrument (GIF) Guarantee instrument (SMEG)
High Growth and Innovative SME Facility (GIF)
• The objective of GIF is to reduce the venture capital market gap faced by SMEs.
• The focus of GIF is on innovative SMEs with high growth potential.
• Two windows: GIF1 and GIF2.
SME Guarantee Facility (SMEG)
• SMEG will improve access to finance for SMEs by providing counter- or co-guarantees to guarantee schemes or direct guarantees to financial intermediaries.
• Four windows:� SME loan guarantee;
� Microcredit guarantee;� Equity and mezzanine guarantee;
� Securitisation of SME debt finance portfolios.
Capacity Building Scheme (CBS)
•The Seed Capital Action will provide grants to selected funds for the long-term recruitment of additional staff with specific expertise.
How do the instruments work?F
un
din
g s
ou
rces
European Investment Fund (EIF)
Venture capital investment
in SMEs
Lending to SMEs
EIF selects its financial intermediaries based on competence. The criteria are public.
Guarantee fundsCapacity building
Venture capitalinvestments
Other investors
CIP budget
Venture capital
fund Bank
Guarantor
EEN - Enterprise Europe Network• EU network offering services to the benefit
of SMEs� Organizing business cooperation across
borders� Help with accessing EU projects and
funding� Advising on EU legislation, standards and
intellectual property rights� Assisting SMEs in raising their innovative
capacities � Providing support to going international� Collecting SME feedback to legislative
initiatives� List of partners in Croatiawww.enterprise-europe-network.ec.europa.eu/info/countries/croatia_en.htm
� More than 600 partners
� Active in 40 European countries
� Several partners in Croatia
Your Europe - Business
theoreticalinformation
practical information: programmes/instruments
practical information: assistance
reference to legislation
access to national information
Features
• Enhanced multilingual businessinformation
• For companies doing business in another country
• Providing constant updates
• Offering practical information and access to national on-lineservices
• Through cooperation betweenEuropean Commission (ENTR-DIGIT) and Member Statesauthorities
SME Envoy
• Internally: « Watchdog function » to monitor Commission policies affecting SMEs
• Externally: Dialogue with SMEs and their representatives, both at national and European level
• Inform SMEs and gather their feedback on EU legislation, programmes and policies
• Monitor the implementation of the SBA
Web links• Policy on access to finance
� http://europa.eu.int/comm/enterprise/entrepreneurship/financing/� http://ec.europa.eu/enterprise/entrepreneurship/financing/publications.htm
• ‘Small Business Act’ for Europehttp://ec.europa.eu/enterprise/entrepreneurship/sba_en.htm
• Competitiveness and Innovation Framework Programme� http://ec.europa.eu/cip/index_en.htm
• EU financial instruments� europa.eu.int/comm/enterprise/entrepreneurship/financing/financial_instruments.htm � http://access2finance.eu
• European Investment Fund� http://www.eif.org
• European portal for SMEs� http://ec.europa.eu/enterprise/sme/index_en.htm
• Enterprise Europe Network� http://www.enterprise-europe-network.ec.europa.eu/index_en.htm
• Your Europe for business� http://www.ec.europa.eu/youreurope/hav/en/business/
[email protected] : +32.2.29.94143