Don't miss

Replay


LATEST SHOWS

FOCUS

Inside the murky business of cobalt mining in DR Congo

Read more

ENCORE!

100% Pure Parisian: Comedian Julie Collas helps locals laugh at themselves

Read more

BUSINESS DAILY

Chinese textile wholesalers open Marseille site

Read more

IN THE PRESS

Meet Annegret Kramp-Karrenbauer: Angela Merkel's 'mini-me'

Read more

IN THE PRESS

Major French student union rocked by sexual assault claims

Read more

THE INTERVIEW

Photographer Pete Souza shares his ‘portrait’ of Obama

Read more

EYE ON AFRICA

Zuma ally Atul Gupta challenges asset freeze

Read more

MEDIAWATCH

Gun control continues to trend on US social media

Read more

THE DEBATE

Trump, guns and school shootings: Can students help change gun control laws?

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)