By Martin Banks - 15th October 2008
“Innovation is going to be even more vital than ever in boosting Europe’s economy and we need to create the conditions that fuel innovation”
Günter Verheugen
“Policy makers, starting with this week’s EU summit in Brussels, must take notice of their concerns and work with them closely in finding solutions that will enable Europe to come out of recession and compete globally”
Eurochambres president Pierre Simon
European commissioner Günter Verheugen has called for a ‘greater effort’ to help cut the ‘burden’ of red tape facing Europe’s SMEs.
Speaking in parliament on Tuesday, the German official also said the EU must collaborate with the business community to foster a “spirit of entrepreneurship.”
One way of achieving this, he argued, is to further reduce the ‘administrative and compliance’ burden on Europe’s SMEs.
“Innovation is going to be even more vital than ever in boosting Europe’s economy and we need to create the conditions that fuel innovation,” said Verheugen, the commission vice president in charge of enterprise and industry.
He was addressing a conference of over 750 business men and women from all over Europe in parliament’s hemicycle.
The event, organised by Eurochambres, the Brussels-based umbrella body for chambers of commerce, heard that the current global financial crisis is “beginning to spread” across the business community.
A survey showed that 66 per cent of participants said they will be obliged to review their investment plans and half of them are, even at a relatively early stage, encountering tighter credit conditions.
Apart from the financial situation, entrepreneurs debated other key issues, including international trade, climate change and demographic shifts.
Eurochambres president Pierre Simon said, “The views of an individual business, especially a small or medium sized one, are easy to ignore."
“But these 750 businessmen convey the concerns of 23 million businesses across Europe so their cumulative impact is enormous.
“Policy makers, starting with this week’s EU summit in Brussels, must take notice of their concerns and work with them closely in finding solutions that will enable Europe to come out of recession and compete globally.”
The event marked the 50th anniversary of Eurochambres.
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