New Single Market Strategy will help SMEs

The EU Single Market strategy presented today by the European Commission has recognised the contributions of SMEs and entrepreneurs to the European economy. As part of the Internal Market strategy, the Commission intends to simplify VAT regulation, reduce the cost of company registration, put forward a proposal on business insolvency and make all information on regulatory requirements accessible in a single digital gateway. The Commission will also work on clear and SME-friendly intellectual property rules and take the final steps needed for the Unitary Patent to become an attractive and affordable way for European companies, including SMEs, to capitalise on their ideas.

Welcoming the announcement today, Chambers Ireland CEO Ian Talbot, said, “The Single Market is the crown jewel of the EU and we welcome the steps the Commission is taking to ensure that the Single Market keeps up with the times and reflects the reality of doing business in today’s business climate. Entrepreneurs and small business are the drivers of economic growth and the Commission’s commitment to making it simpler and more cost effective for SMEs to do business is a welcome move”.

“Additionally, we support the announcement made by the Commission to focus more resources on enforcement of Single Market rules, compliance and mutual recognition of standards. Chambers Ireland has long been highlighting the bureaucratic burdens facing business because of detailed documentation requirements or differing interpretations of EU legislation. The Commission’s commitment to creating a culture of compliance is an important step to reducing the burdens on businesses around Europe.”

For further information contact Susan McDermott, Chambers Ireland on 01 400 4300 or email susan.mcdermott@www.chambers.ie

Chambers Ireland – Ireland’s largest business network creating the best environment for members locally, regionally and nationally.