The EU should help small and medium-sized enterprises (SMEs) to develop efficient internationalisation strategies to allow them to seize opportunities in the global market. This is what Austrian Christian Democrat Paul Rübig is calling for in his report on SMEs competitiveness and business opportunities. He will present his proposals in plenary on Monday 22 October. Check out our infographic to find out more.
As SMEs represent 99% or businesses and account for 58% of total turnover in the EU, they form the backbone of the European economy.
Mr Rübig said the development and growth of SMEs is essential to boosting Europe's competiveness and strengthening its attractiveness as a place for investment and production. His report proposes to launch a multilingual online portal to provide SMEs with information about priority markets. It underlines the importance of the Erasmus for young entrepreneurs programme and calls for allowing young businessmen to exchange best practices with centres of excellence outside the EU as well.