Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

At least 3 dead in grenade attack in Bujumbura

Read more

MEDIAWATCH

Inequality, sexism and the movie industry

Read more

ENCORE!

Sienna Miller on motherhood, her new movies and Cannes glamour

Read more

THE WORLD THIS WEEK

After the Fall of Ramadi, Palmyra: Did the West Underestimate the Jihadists?

Read more

THE WORLD THIS WEEK

Migrants and Immigrants: A Global Crisis

Read more

FRANCE IN FOCUS

Behind the scenes of French gastronomy

Read more

EYE ON AFRICA

Protests continue in Burundi as calls mount for election delay

Read more

EYE ON AFRICA

Burundi: Nkurunziza delays parliamentary polls as clashes continue

Read more

EYE ON AFRICA

At least two killed in fresh protests in Bujumbura

Read more

EU pushes its own 'Small Business Act'

Latest update : 2008-06-25

Brussels is proposing a special fiscal regime for small and medium-sized businesses. Such businesses make up 99% of European companies and amount to being the largest employer in the continent. (Analysis: C. Vanier)

The European Commission in Brussels unveils on Wednesday a raft of policy ideas to support small and medium-size businesses (under 250 employees).

The draft "Small Business Act", as it is known, would create a unique legal status for small businesses in Europe, such that companies created in one member-state could operate throughout the EU without hindrance. Under the Act, it would take only one week and cost just €1 to create a company.

Significantly, Brussels also recommends a law to insure that small businesses be paid faster. It is estimated that every year 450,000 jobs are lost because companies are paid too late.

The draft legislation requires approval by Europe's finance ministers. If they okay the proposal, it could come into force by mid-2010.

Date created : 2008-06-25

COMMENT(S)