European Structural and Investment Funds supported SMEs – report
The European Structural and Investment Funds (ESI Funds) unleashed a total investment of €731 billion, of which the EU funded €535 billion in 2014-2020. It aimed to foster lasting socio-economic convergence, territorial cohesion, social Europe and a smooth green and digital transition.
This investment is explained in the 2022 Summary Report on the Implementation of the ESI Funds adopted by the Commission on 31 January.
The report presents the ESI Funds’ achievements by the end of 2021, including the following:
- more than 4 million SMEs were supported
- 2.3 million projects supported the agricultural sector and competitiveness of rural SMEs’ and helped create jobs in rural areas
- a total of 44,000 jobs were maintained, and over 6,000 new ones were created in the fishing and aquaculture sector
Commission proposal on tax enablers (SAFE) further postponed
In the January SME Update, we reported the Commission’s tax enablers proposal is expected for April. However, the Commission has further delayed the proposal to 7 June. Additional delays are possible.
Commission publishes discussion paper on insolvency frameworks across Europe
The paper, published on 28 February, provides an assessment framework for insolvency regimes in the EU to inform economic surveillance. It aims to:
- illustrate the main concepts relating to insolvency frameworks and their economic relevance
- review the primary characteristics of insolvency regimes across EU countries
- evaluate the severity of corporate vulnerabilities stemming from the COVID-19 crisis, considering how insolvencies and non-performing loans have developed in response to the global financial crisis
- highlight the remaining challenges for insolvency systems in the EU based on an estimate of the potential increase in insolvencies (insolvency gaps) and existing institutional settings and structural characteristics
Commission launches €7.5 million calls to support the integration of Ukrainian SMEs in the Single Market
The Commission announced the launch of two calls for proposals under the joint title “ReadyForEU”, with a total budget of €7.5 million, on 28 February. The calls aim at helping Ukrainian entrepreneurs and businesses to benefit from the Single Market. They are funded under the Single Market Programme and follow the recent agreement for Ukraine to join the Programme.