It has been warned that more must be done to ensure the Small Business Act (SBA) is implemented, news which may be of interest to companies operating out of serviced offices in Edinburgh.
Speaking following a review of the SBA, European Commission vice-president Antonio Tajani claimed that member states need to "act quickly" in order to support small and medium-sized enterprises (SMEs).
"SMEs represent more than 99 per cent of all businesses and employ more than 90 million in Europe. They are the engine behind our economy and must be kept strong, competitive and innovative," he commented.
The SBA, which was adopted in June 2008, has helped create 100,000 jobs as a result of the Competitiveness and Innovation Framework Programme.
Meanwhile, in many of the member states the cost of setting up a company has been significantly reduced.
The SBA applies to all organisations that are independently run and have fewer than 250 employees.
