The European Commission calls national and regional organizations, enterprises, business associations, venture capital providers, research and academic institutions, and individual citizens to participate in public consultation on the review of the SME definition. The consultation is open from 6 February to 6 May 2018.
SME stands for micro, small and medium-sized enterprises which represent 99% of all EU businesses and employ 2 out of every 3 employees in the EU. To ensure a smooth access to finance and EU support programmes for these enterprises, the SME is defined in the EU recommendation 2003/361. The SME definition helps to identify market failures and other obstacles that enterprises face due to their size. It also allows them receiving preferential treatment in public support.
The SME definition is widely used in both EU policies, such as competition (state aid), structural funds, research and innovation (Horizon 2020), and some European administrative exemptions and reduced fees.
The European Commission is currently preparing for an evaluation and possible revision of some aspects of the SME definition, and public consultation is a part of this process. Not only it will allow any interested actors to provide feedback, but the results will actually impact the assessment.
Thus, all the interested parties are encouraged to submit their responses by filling the online questionnaire in the EU Survey tool. All the responses will be published shortly after the end of the consultation period together with the final summary. The European Commission encourages respondents to provide the public with relevant information about themselves by registering in the transparency register and subscribing to its code of conduct.
Given the strong ties that the crowdfunding industry shares with SMEs, ECN encourages the participation of any stakeholder to the public consultation as a means of contributing to the future definition of this concept.