BRUSSELS, 25 November 2015 – SMEs should be placed
front and centre in European Commission efforts to boost financing activity by
further integrating EU capital markets, according to a new common position
released today by three European associations particularly involved with SMEs.
Savings and retail banking association ESBG, the European accountants
federation FEE, and SME trade body UEAPME provide a set of ideas to improve
access to finance for SMEs under the Capital Markets Union (CMU).
Deeply committed to supporting Commission CMU
work, the trio call on policymakers to recognise that typical SMEs won’t get
financing they need from capital markets. Well-advised by professional
accountants before seeking funding, small and medium-sized firms will remain
reliant on debt-based financing from banks as the primary funding source, they
argue, while alternative sources of funding can play a useful and complementary
role. In its eight-point joint position, all three welcome
the European Commission’s push to reignite the securitization market and to update
the Prospectus Directive with a proportionate, tier-based regime for SMEs. They
also call on EU bodies to place greater focus on reinforcing banking sector
capacity to lend to SMEs.
>> See the common position document
Gerhard Huemer, Economic Policy Director, on +32 2 230 7599 or at g.huemer@ueapme; or
Jenny Manin, Press and Communications Officer, Tel. +32 496 520 329 or firstname.lastname@example.org
Rémy Moura, Policy Advisor, on +32 2 211 1183 or at email@example.com; or
James Pieper, Senior Adviser, Communications, on +32 2 211 1192 or at firstname.lastname@example.org
Laura Buijs, Manager, Public Affairs & Outreach, on +32 2 893 33 60 or at email@example.com
Notes to editor:
About ESBG: ESBG brings together savings and retail banks of the European Union and European Economic Area that believe in a common identity for European policies. ESBG members represent one of the largest European retail banking networks, comprising of approximately one-third of the retail banking market in Europe. Learn more at www.esbg.eu.
About FEE: The Federation of European Accountants (FEE) represents 47 professional institutes of accountants and auditors from 36 European countries, with a combined membership of over 800,000 professional accountants working in different capacities. As the voice of the European profession, FEE recognises the public interest. Learn more at www.fee.be.
About UEAPME: The European Union of Crafts Small and Medium-sized Enterprises (UEAPME) is the employers' organisation representing the interests of European crafts, trades and SMEs at EU level. UEAPME has 80 member organisations covering over 12 million enterprises with 55 million employees. UEAPME is a European Social Partner. Learn more at www.ueapme.com.
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