Public consultation from the EU Commission: what is your SME definition?
The European Commission has set up a public consultation to review the definition for small and medium enterprises. The GUBERNA Alumni Council wanted to grasp this opportunity and prepared a reaction.
‘Creating IMPACT’ is one of the drivers of our alumni! We want to weigh on the debate and incorporate some governance reflexes. 99% of all companies in the EU are SMEs. They are the backbone of our economy and constitute 2 out of 3 jobs!
With this project, we will be mentioned as a contributor and our reaction will be published online. We wanted absolutely to be perceived as a stakeholder in this trajectory!
Importance of such a definition?
Today’s SME definition can be found in the Recommendation 2003/361/EG and is e.g. used to define whether companies can obtain financial aid. However, it is also used in other contexts: competition (state aid), structural funds and research & innovation (Horizon 2020). Moreover, it is a reference for administrative exemptions & cut in rates, such as the REACH-regulation.
A dedicated task force was in the lead to coordinate this project. Thank you to Sandra Gobert, Jacques Rousseaux, Inge Stoop and Luc M. Verbeke for your leadership and your valuable input! Thank you also to our alumni who reacted to the draft proposal and added their views in the debate.
Interested to check out the alumni reaction? You can find it here!