Awaiting Parliament 1st reading / single reading / budget 1st stage
2016/2032(INI) Access to finance for SMEs and increasing the diversity of SME funding in a capital markets union
Next event: Debate in plenary scheduled 2016/09/14 more...
Lead committee dossier: ECON/8/05643
Legal Basis RoP 052
Next event: Debate in plenary scheduled 2016/09/14 more...
- Vote in plenary scheduled 2016/09/15
| Role | Committee | Rapporteur | Shadows |
|---|---|---|---|
| Opinion | BUDG | KUŹMIUK Zbigniew (ECR) | |
| Opinion | CULT | MORGANO Luigi (S&D) | |
| Lead | ECON | KARAS Othmar (EPP) | SIMON Siôn (S&D), OŻÓG Stanisław (ECR), WIERINCK Lieve (ALDE), LÓPEZ BERMEJO Paloma (GUE/NGL), LAMBERTS Philippe (Verts/ALE), ZANNI Marco (EFD), ANNEMANS Gerolf (ENF) |
| Opinion | EMPL | ||
| Opinion | INTA | ||
| Opinion | REGI | JOULAUD Marc (EPP) |
Legal Basis RoP 052
Subjects
Activites
-
2016/09/15
Vote in plenary scheduled
-
2016/09/14
Debate in plenary scheduled
- 2016/06/29 Committee report tabled for plenary, single reading
-
2016/06/21
Vote in committee, 1st reading/single reading
-
2016/03/10
Committee referral announced in Parliament, 1st reading/single reading
Documents
- Committee report tabled for plenary, single reading: A8-0222/2016
| Amendments | Dossier |
| 407 |
2016/2032(INI)
2016/04/06
ECON
249 amendments...
Amendment 1 #
Motion for a resolution Citation 7 a (new) – having regard to its resolution of 8 September 2015 on Family businesses in Europe1a, __________________ 1a Texts adopted, P8_TA(2015)0290
Amendment 10 #
Motion for a resolution Recital A A. whereas SMEs
Amendment 100 #
Motion for a resolution Paragraph 8 a (new) 8a. Highlights the important role of National and Regional Promotional Banks and Institutions in financing the SME sector; recalls their central part in the EFSI SME window and the role they play for the involvement of Member States in EFSI projects;
Amendment 101 #
Motion for a resolution Paragraph 8 a (new) 8a. While women's enterprises are more often than male in services and otherwise based on immaterial resources, their ability to meet capital requirements should be facilitated by gender sensitive support mechanisms like special EU or other government guarantee schemes;
Amendment 102 #
Motion for a resolution Paragraph 8 b (new) 8b. Calls on the Commission to investigate to what extent women entrepreneurs are subject to indirect discrimination in the sense of Directive 2004/113/EC in the area of financial services;
Amendment 103 #
Motion for a resolution Paragraph 8 b (new) 8b. Believes that the fragmentation of the EU savings and credit markets can only be addressed through completion of the baking union; highlights the need to implement the European Deposit Insurance Scheme (EDIS), the third pillar of the Banking Union; invites the Commission to consider the introduction of a financial backstop to further enhance the stability and reduce systemic risk;
Amendment 104 #
Motion for a resolution Paragraph 9 9. Reiterates that it is
Amendment 105 #
Motion for a resolution Paragraph 9 9. Reiterates that it is primordial
Amendment 106 #
Motion for a resolution Paragraph 9 9. Reiterates that it is primordial to enhance the
Amendment 107 #
Motion for a resolution Paragraph 9 9. Reiterates that it is primordial to
Amendment 108 #
Motion for a resolution Paragraph 9 9. Reiterates that it is primordial to enhance the SME lending capacity of banks; points out that financing by capital markets alone will not succeed in providing sufficient funding and appropriate
Amendment 109 #
Motion for a resolution Paragraph 9 9. Reiterates that it is primordial to enhance the SME lending capacity of banks; reiterates that there is a need to diversify sources of financing, and therefore welcomes the creation of a single market for capital; points out that financing by capital markets alone will not succeed in providing sufficient funding and appropriate financing solutions for SMEs;
Amendment 11 #
Motion for a resolution Recital A A. whereas SMEs
Amendment 110 #
Motion for a resolution Paragraph 9 9. Reiterates that it is primordial to enhance the SME lending capacity of banks and the involvement of alternative financing possibilities; points out that financing by capital markets alone will not succeed in providing sufficient funding and appropriate financing solutions for SMEs;
Amendment 111 #
Motion for a resolution Paragraph 9 a (new) 9a. Encourages the Commission to assess and introduce "funding for lending" programmes that would make ECB money available to banks with the sole purpose of lending to SMEs;
Amendment 112 #
Motion for a resolution Paragraph 10 10. Highlights that a healthy, stable and resilient banking sector is a prerequisite for strengthening SMEs’ access to finance;
Amendment 113 #
Motion for a resolution Paragraph 10 10. Highlights that a healthy, stable and resilient banking sector is a prerequisite for strengthening SMEs’ access to finance; points out that the CRR and CRD IV are a
Amendment 114 #
Motion for a resolution Paragraph 10 10. Highlights that a healthy, stable and resilient banking sector is a prerequisite for strengthening SMEs
Amendment 115 #
Motion for a resolution Paragraph 10 10. Highlights that a healthy, stable and resilient banking sector is a prerequisite for strengthening SMEs’ access to finance; points out that the CRR and CRD IV are a direct response to the crisis and form the core of the renewed stability of the financial sector; reminds, that some Member States, in order to facilitate SME funding, already allow credit unions to be exempted from the provisions contained within the CRD IV since the risks to financial stability is very limited;
Amendment 116 #
Motion for a resolution Paragraph 10 a (new) 10a. Underlines that while digitalisation is advancing and therefore new sources of financing are emerging, the local presence of traditional credit institutions especially in islands and archipelagos as well as rural, remote and peripheral areas remains essential for SMEs' access to finance;
Amendment 117 #
Motion for a resolution Paragraph 10 a (new) 10a. Notes that a diversification of credit sources would lead to greater stability of the financial sector;
Amendment 118 #
Motion for a resolution Paragraph 11 11.
Amendment 119 #
Motion for a resolution Paragraph 11 11.
Amendment 12 #
Motion for a resolution Recital A A. whereas micro, SMEs and mid-caps play an important role for the European economy in terms of employment and growth;
Amendment 120 #
Motion for a resolution Paragraph 11 11. Is concerned about
Amendment 121 #
Motion for a resolution Paragraph 11 11.
Amendment 122 #
Motion for a resolution Paragraph 11 11. Is concerned about
Amendment 123 #
Motion for a resolution Paragraph 11 11. Emphasises the need to avoid double reporting requirements and multiple reporting channels, and more generally an unnecessary administrative burden on credit institutions, in particular smaller banks; Is concerned about multiple regulatory requirements for banks and possible negative effects on lending to SMEs; calls on the Commission to assess these effects on SME lending
Amendment 124 #
Motion for a resolution Paragraph 11 11. Is concerned about multiple regulatory requirements for banks and possible negative effects on lending to SMEs; calls on the Commission to assess these effects on SME lending, with the support of the EBA and SSM, and to adapt the banking regulations in line with the impact on lending;
Amendment 125 #
Motion for a resolution Paragraph 12 12.
Amendment 126 #
Motion for a resolution Paragraph 12 12.
Amendment 127 #
Motion for a resolution Paragraph 12 12.
Amendment 128 #
Motion for a resolution Paragraph 12 12. Emphasises the importance of the SME Supporting Factor for maintaining and increasing bank lending to SMEs; calls on the Commission to examine the appropriate calibration of the factor, including size, threshold and possible interactions with other regulatory requirements; is concerned about the possible negative impact of its removal; calls on the Commission to
Amendment 129 #
Motion for a resolution Paragraph 12 12. Emphasises the importance of the SME Supporting Factor for maintaining and increasing bank lending to SMEs; calls on the Commission to examine the appropriate calibration of the factor, including size, threshold and possible interactions with other regulatory requirements; is concerned about the possible negative impact of
Amendment 13 #
Motion for a resolution Recital A A. whereas SMEs and mid-caps play an important role for the European economy in terms of employment and growth
Amendment 130 #
Motion for a resolution Paragraph 12 12. Emphasises the importance of the SME Supporting Factor for maintaining and increasing bank lending to SMEs; calls on the Commission to examine the appropriate calibration of the factor, including size, threshold
Amendment 131 #
Motion for a resolution Paragraph 12 12. Emphasises the importance of the SME Supporting Factor for maintaining and increasing bank lending to SMEs; calls on the Commission to examine the appropriate calibration of the factor, including size, threshold and possible interactions with other regulatory requirements; believes, in particular, that the exposure threshold of 1.5 million euro should be revised in order to further increase SMEs access to bank lending; is concerned about the possible negative impact of its
Amendment 132 #
Motion for a resolution Paragraph 12 12. Emphasises the importance of the SME Supporting Factor for maintaining and increasing bank lending to SMEs; calls on the Commission to examine the appropriate calibration of the factor, including size, threshold and possible interactions with other regulatory requirements; is concerned about the possible negative impact of its removal; calls on the Commission to explore the possibility of making this factor permanent; suggests that initiatives for improved SME funding should be expanded to start-ups, micro- enterprises and mid-cap companies;
Amendment 133 #
Motion for a resolution Paragraph 12 a (new) 12a. Points out that banks that specialise in SME lending have every incentive to use the Internal Ratings Based Approach (IRBA) and that, according to the EBA report of March 2016 on the SME Supporting Factor, if anything, banks currently under-capitalise IRBA loans to SMEs;
Amendment 134 #
Motion for a resolution Paragraph 13 13.
Amendment 135 #
Motion for a resolution Paragraph 13 13. Reminds banks that lending and risk- taking is part of their core business; stresses that prudent risk assessment and the evaluation of qualitative information is one of their major s
Amendment 136 #
Motion for a resolution Paragraph 13 a (new) 13a. Stresses that the increase in operations by the European financial institutions – the European Investment Bank (EIB) and European Investment Fund – (EIF) in support of SMEs has not been particularly effective;
Amendment 137 #
Motion for a resolution Paragraph 14 14. Notes the various ongoing initiatives to improve the availability of standardised and transparent SME credit information;
Amendment 138 #
Motion for a resolution Paragraph 14 14.
Amendment 139 #
Motion for a resolution Paragraph 14 a (new) 14a. Recalls that the diversity and specific needs and characteristics of SMEs require adequate knowledge and expertise within banks in order for them to properly assess and deal with this category of companies; notes that such expertise might too often be lacking; takes the view that the knowledge and awareness of SMEs' particularities within the banking community should be enhanced;
Amendment 14 #
Motion for a resolution Recital B B. whereas micro and SME financing suffered more from the crisis than the financing of large enterprises;
Amendment 140 #
Motion for a resolution Paragraph 14 b (new) 14b. Stresses that a costless way for banks to provide support to SMEs in their search for funding is through the information and advice they provide to investors, for instance through signalling and advising adequate investments in SMEs to relevant private investors;
Amendment 141 #
Motion for a resolution Paragraph 15 15.
Amendment 142 #
Motion for a resolution Paragraph 15 15. Calls on the Commission to provide guidance to the ESAs and ECB/SSM on how the proportionality principle should be applied, without lowering current regulatory standards;
Amendment 143 #
Motion for a resolution Paragraph 15 15. Calls on the Commission to provide guidance to the ESAs and ECB/SSM on how the proportionality principle should be applied and to urge that it be maintained;
Amendment 144 #
Motion for a resolution Paragraph 16 Amendment 145 #
Motion for a resolution Paragraph 16 16. Highlights the benefits of third-party guarantees in loan agreements for entrepreneurs; demands that greater account be taken of these third-party guarantees when it comes to the evaluation of credit ratings as well as prudential rules and supervisory practices;
Amendment 146 #
Motion for a resolution Paragraph 16 a (new) 16a. Calls on the Commission to develop public sector backed investments and government scheme loans to SMEs;
Amendment 147 #
Motion for a resolution Paragraph 17 17. Recalls that credit institutions must, upon request, provide SMEs with an explanation of their rating decisions;
Amendment 148 #
Motion for a resolution Paragraph 17 17. Recalls that credit institutions must, upon request, provide SMEs with a
Amendment 149 #
Motion for a resolution Paragraph 17 a (new) 17a. Notes that credit ratings are an important and sometimes determining element of investment decisions; draws attention to the existence in some Member States of In-house Credit Assessment Systems (ICAS) managed by the national central banks in order to assess the eligibility of collateral and which enable SMEs to obtain an assessment of their creditworthiness; calls on the Commission, the ECB and national central banks to further investigate whether and how these systems can be used in order to help SMEs access capital markets;
Amendment 15 #
Motion for a resolution Recital B B. whereas SME financing, despite having recently registered some improvement, suffered more from the crisis than the financing of large enterprises
Amendment 150 #
Motion for a resolution Paragraph 18 18. Calls on EBA and the Commission to provide more guidance on the implementation of the current forbearance regulation; recalls that non-performing loans on banks' balance sheet are hampering the delivery of new loans, hence, stronger measures are needed to overcome the problem; asks the Commission to conduct an impact assessment of the current forbearance regime for non-performing loans; stresses that the introduction of a de minimis limit for minor violations would help to prevent an unnecessary und unjustified drop in the creditworthiness of the SME;
Amendment 151 #
Motion for a resolution Paragraph 18 18. Calls on the Commission and the EBA to provide more guidance on the implementation of the current forbearance regulation; asks the Commission to conduct an impact assessment of the current forbearance regime for non- performing loans; stresses
Amendment 152 #
Motion for a resolution Paragraph 18 a (new) 18a. Draws attention to the potential offered by structures associating banks and non-bank actors in order to provide support to SMEs, such as partnerships between banks and institutional investors or dedicated off-balance sheet "business growth funds";
Amendment 153 #
Motion for a resolution Paragraph 18 a (new) 18a. Notes that limits to the purchase of government bonds by banks or the increase of weighting of these bonds would increase the credit costs and increase the competitive gap in EU;
Amendment 154 #
Motion for a resolution Paragraph 18 a (new) 18a. Stresses the importance of public institutions as an alternative to private banking as a source of funding for SMEs;
Amendment 155 #
Motion for a resolution Paragraph 18 a (new) 18a. Reminds that there is still high level of non-performing loans which limit banking financing capacity of the real economy; calls on the Member States to implement legislation for effective and transparent insolvency regimes and timely restructuring process as well as to remove administrative and regulatory burdens which are imposed to SMEs as stated by Country specific recommendations;
Amendment 156 #
Motion for a resolution Paragraph 18 a (new) 18a. Calls on the Commission to consider shortening and simplification of bankruptcy procedures across the EU in order to minimise burden and increase flexibility;
Amendment 157 #
Motion for a resolution Paragraph 18 b (new) 18b. Calls on the Commission to consider proportionality around the early repayment of loans across the EU, such as a cap to limit costs for SME's and more transparency in contracts for SME's;
Amendment 158 #
Motion for a resolution Paragraph 18 b (new) 18b. Welcomes the measures adopted by the ECB on 10 March 2016 and, in particular, the new series of four targeted longer-term refinancing operations (TLTRO II), which will reinforce the ECB's accommodative monetary policy stance and incentivise bank lending to the real economy; underlines that monetary policies alone would not be sufficient to boost growth and investments and that they have to be accompanied by appropriate fiscal policies;
Amendment 159 #
Motion for a resolution Paragraph 19 19.
Amendment 16 #
Motion for a resolution Recital B a (new) Ba. whereas most European SMEs operate mainly at national level; whereas relatively few SMEs are involved in cross- border operations within the EU, while those which export outside the Union constitute a tiny minority;
Amendment 160 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to
Amendment 161 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is not only key to increasing bank lending but also to expanding the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy of SMEs; however, points out that SMEs themselves also bear a responsibility in this regard;
Amendment 162 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions as well as to encouraging women and young people to start and expand their businesses, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy of SMEs;
Amendment 163 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States and the European Commission to enhance the financial literacy of SMEs and to ensure best practices are shared;
Amendment 164 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy and access to financial skills and knowledge of SMEs;
Amendment 165 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy of SMEs and their access to information via the creation of regional one-stop-shops;
Amendment 166 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy of SMEs and provide them with effective advisory support, both on national and regional level;
Amendment 167 #
Motion for a resolution Paragraph 19 19. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy of SMEs; encourages the Member States to include the basic principles of financial education and business ethics in the pre- university and university curriculum, encouraging young people’s involvement in SMEs’ activities;
Amendment 168 #
Motion for a resolution Paragraph 19 a (new) 19a. Highlights the benefits of leasing for SMEs by releasing a company's capital for additional investment in sustainable growth;
Amendment 169 #
Motion for a resolution Paragraph 19 a (new) 19a. Points out that the real economy remains heavily reliant on banks which makes it vulnerable to a tightening of bank lending; believes that alternative sources of financing should be further promoted, in particular by strengthening the recourse to venture capital;
Amendment 17 #
Motion for a resolution Recital B a (new) Ba. whereas EU Directive 2004/113/EC prohibits gender discrimination in access to goods and services, including financial services; whereas it is difficult to prove indirect discrimination in the context of access to finance for SMEs but various studies1a reveal that female entrepreneurs start businesses with lower capital levels and often use family for advice and funding rather than bank lending; __________________ 1a Parliament (2015), Policy Department study on ‘Women’s Entrepreneurship: closing the gender gap in access to financial and other services and in social entrepreneurship’.
Amendment 170 #
Motion for a resolution Paragraph 19 a (new) 19a. Invites the Member States to fully implement Directive 2004/113/EC on the principle of equal treatment between men and women in the access to and supply of goods and services and to collaborate with the financial sector regarding their obligation to ensure full and equal access to bank lending for SMEs; invites them to explore possibilities of introducing gender equality into reporting structures of credit evaluations as well as in risk-assessments and into the concerned staff structures to help prevent group and stereotyped thinking in SME lending;
Amendment 171 #
Motion for a resolution Paragraph 19 a (new) 19a. Calls on Member States and the ECB to increase access to banks for SMEs, banks being best suited to the structure of such undertakings; deplores, however, the fact that the move towards consolidation of the banking industry directly damages SMEs, because it depersonalises the relationship between the bank providing credit and the undertaking seeking it;
Amendment 172 #
Motion for a resolution Paragraph 20 20. Points out that
Amendment 173 #
Motion for a resolution Paragraph 20 20. Points out that the ongoing development of the CMU must be accompanied by
Amendment 174 #
Motion for a resolution Paragraph 20 20. Points out that the ongoing development of the CMU must be accompanied by
Amendment 175 #
Motion for a resolution Paragraph 20 20. Points out that the ongoing development of the CMU must be accompanied by recurring efforts to converge EU processes and procedures and to evaluate the existing financial regulatory framework, in particular with regard to its effects on SMEs; calls on the Commission to provide an appropriate, tailored regulatory framework for issuers of funding to SMEs that does not prove burdensome for them and also wins investors' confidence (under the European legislation on accounting standards, the Prospectus Directive, the Transparency Directive, the Market Abuse Directive and the MIFID);
Amendment 176 #
Motion for a resolution Paragraph 20 20. Points out that the ongoing development of the CMU must be accompanied by recurring efforts to evaluate the existing financial regulatory framework, in particular with regard to its effects on SMEs and overall macrofinancial and macroeconomic stability;
Amendment 177 #
Motion for a resolution Paragraph 20 20. Points out that the ongoing development of the CMU must be accompanied by recurring efforts to evaluate the existing financial regulatory framework, in particular with regard to its effects on SMEs; stresses that such an evaluation should be done taking into account specific Member States recommendations as for the practicality of introduced measures;
Amendment 178 #
Motion for a resolution Paragraph 20 a (new) 20a. Stresses that the Juncker Plan and EFSI are failing in their aim of supporting the operations of SMEs;
Amendment 179 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets;
Amendment 18 #
Motion for a resolution Recital B a (new) Ba. whereas European SMEs are very diverse and include a vast number of micro-enterprises, which often operate in traditional sectors and a growing number of new start-ups and fast-growing innovative enterprises; whereas these business models face different problems and, therefore, have different financing needs;
Amendment 180 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and listing requirements for SMEs to avoid duplication but without putting investor protection at risk;
Amendment 181 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and listing requirements for SMEs where this is possible without compromising bank and systemic financial stability and investor protection;
Amendment 182 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and listing requirements for SMEs with the aim to reduce the cost of their access to capital markets;
Amendment 183 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and listing requirements for SMEs; welcomes in this respect the introduction of a minimum disclosure regime for SMEs in the currently discussed Commission proposal for a new Prospectus regulation;
Amendment 184 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and listing requirements for SMEs; welcomes the Commission's proposed revision of the Prospectus Directive;
Amendment 185 #
Motion for a resolution Paragraph 21 21. Recalls the sizeable cost for SMEs to access capital markets; stresses the need for a proportionate regulation, with less complex and burdensome disclosure and
Amendment 186 #
Motion for a resolution Paragraph 21 a (new) 21a. Calls on the Commission and the Member States to ensure enhanced coordination and consistency among all EU investment policies targeted at SMEs including the EFSI, EU regional funds, European Investment Fund (EIB), specific financial instruments foreseen by funding programmes such as COSME, Horizon 2020, EASI, Connecting Europe Facility;
Amendment 187 #
Motion for a resolution Paragraph 21 a (new) 21a. Deplores the fact that the structure of EMU has resulted in the destruction of huge amounts of industrial production in peripheral countries, to the detriment, in particular, of SMEs;
Amendment 188 #
Motion for a resolution Paragraph 21 a (new) 21a. Refers in this context to the SME growth markets provided for through MiFID II and urges the rapid implementation of this instrument;
Amendment 189 #
Motion for a resolution Paragraph 21 b (new) 21b. Emphasises the potential of EU cohesion policy and the EU regional fund as a source for SME funding aimed at enhancing the competitiveness of SMEs, which is one of the goals of the EU cohesion policy; Underlines that more than 63 billion euro of ESI funds have been allocated in the 2014-2020 programming (plus almost 31 billion by national co-financing for a total of 94 billion euro);
Amendment 19 #
Motion for a resolution Recital B a (new) Ba. whereas access to finance is not the main problem of EU SMEs, which consistently report the lack of final demand as the main obstacle to their growth; whereas austerity policies have had a depressing effect on final demand, through the lowering of wages and cuts in public expenditure;
Amendment 190 #
Motion for a resolution Paragraph 21 c (new) 21c. Considers the EFSI as an important source of funding for SMEs and calls on the Commission and the Member States to promote the use of the European Investment Project Portal which aims at putting in contact project promoters and investors; calls on the Commission to evaluate the possible extension of the EFSI beyond its expiry date;
Amendment 191 #
Motion for a resolution Paragraph 21 d (new) 21d. Calls on the Commission and Member States to promote a holistic approach to the dissemination of information on all EU funding opportunities (including Banking Union, Capital Markets Union and EU regional funds) at European, national, regional and local level;
Amendment 192 #
Motion for a resolution Paragraph 22 22.
Amendment 193 #
Motion for a resolution Paragraph 22 22. Emphasises the importance of the transparency, standardisation and public availability of SME financing information for investors, supervisors and other stakeholders in order to understand the risk profile and take informed decisions; believes that the creation of a European database collecting information on business strategies and financing needs of SMEs could serve this purpose; welcomes the Commission
Amendment 194 #
Motion for a resolution Paragraph 22 22. Emphasises the importance of the transparency, standardisation and public availability of SME financing information for investors, supervisors and other
Amendment 195 #
Motion for a resolution Paragraph 22 22. Emphasises the importance of the transparency, standardisation and public availability of SME financing information for banks, investors, supervisors and other stakeholders in order to understand the risk profile and take informed decisions; welcomes the Commission
Amendment 196 #
Motion for a resolution Paragraph 22 22. Emphasises the importance of the transparency, standardisation and public availability of SME financing information for investors, supervisors and other stakeholders in order to understand the risk profile and take informed decisions; welcomes the Commission’s SME information strategy; requests the Commission to consider a single SME identification number to build on a single database for SME's;
Amendment 197 #
Motion for a resolution Paragraph 22 a (new) 22a. Stresses the importance of the Member States making efforts towards the widespread use of state capital for SMEs with a view to their internationalisation and sustainable development;
Amendment 198 #
Motion for a resolution Paragraph 22 a (new) 22a. Recalls that accounting standards are crucial inasmuch as they frame the way information is provided to supervisors and investors and inasmuch as the administrative burden imposed on companies differs depending on the accounting standards applying; takes note of the ongoing discussions on the expediency of designing specific common accounting standards for SMEs and looks forward to further reflections being conducted on this issue;
Amendment 199 #
Motion for a resolution Paragraph 23 Amendment 2 #
Motion for a resolution Citation 16 a (new) – having regard to the Commission Communication of 28 January 2016 on Anti-Tax Avoidance Package: Next steps towards delivering effective taxation and greater tax transparency in the EU (COM(2016)23),
Amendment 20 #
Motion for a resolution Recital B a (new) Ba. whereas women entrepreneurs tend to start off with less capital, borrow less and use family rather than debt or equity finance;
Amendment 200 #
Motion for a resolution Paragraph 23 23. Underlines the potential of new innovative financial technology (FinTech) for the better matching of SMEs with potential investors; calls on the Commission
Amendment 201 #
Motion for a resolution Paragraph 23 23. Underlines the potential of new innovative financial technology (FinTec) for the better matching of SMEs with potential investors; calls on the Commission to explore potential risks and
Amendment 202 #
Motion for a resolution Paragraph 23 23. Underlines the potential of new innovative financial technology (FinTec) for the better matching of SMEs with potential investors; calls on the Commission to explore potential risks and the need for an appropriate harmonised EU regulatory framework without stifling innovation;
Amendment 203 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses
Amendment 204 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding or peer-to-peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding;
Amendment 205 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages
Amendment 206 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding or peer-to-peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission
Amendment 207 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding or peer-to-peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding; calls on the Commission to explore the need for, and potential of, a harmonised EU framework; asks, at the same time, that crowdfunding and peer-to-peer lending should not be overregulated, as this would impede their development;
Amendment 208 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding or peer-to-peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding; calls on the Commission to explore the need for, and potential of, a harmonised EU framework; recalls that for the system to be efficient both the SME and the lender must be fully aware of the potential risks/opportunities linked to the funding mechanism;
Amendment 209 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding or peer-to-peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding; calls on the Commission to explore the need for, and potential of, a harmonised EU framework; stresses the need to ensure that these new forms of financing are fully compliant with relevant tax and financial legislation, so that they do not become a tool for tax avoidance or financial opacity; stresses the need to review current legislation in this regard;
Amendment 21 #
Motion for a resolution Recital B a (new) Ba. whereas national/regional promotional banks play an important role in catalysing long-term finance; whereas they have stepped up their activities, aiming to counterbalance the necessary deleveraging process in the commercial banking sector; whereas they also play an important role in implementing EU financial instruments beyond the scope of the European Fund of Strategic Investments;
Amendment 210 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages
Amendment 211 #
Motion for a resolution Paragraph 24 24. Highlights the need to foster innovation through lending platforms; encourages banks to regard the use of such innovative technologies as an opportunity; stresses that alternative funding sources like crowdfunding, micro-credits or peer-to- peer lending offer solutions for start-ups and innovative SMEs in particular; welcomes the Commission’s assessment of the existing framework for crowdfunding; calls on the Commission to explore the need for, and potential of, a harmonised EU framework;
Amendment 212 #
Motion for a resolution Paragraph 24 a (new) 24a. Points out that direct state aid, which does not distort the benefits of competition at EU level, is sometimes necessary in order to assure the needed funds for start- ups, microenterprises and SMEs, especially where the socioeconomic conditions do not allow for another source of access to finance;
Amendment 213 #
Motion for a resolution Paragraph 24 a (new) 24a. Points to the potential of credit unions and other forms of cooperative financing; highlights the need for prudent legislation for credit unions that ensures both financial stability as well as opportunities for credit unions to provide credit at competitive rates;
Amendment 214 #
Motion for a resolution Paragraph 24 a (new) 24a. Notes that the heterogeneity of national insolvency legislation and the related legal uncertainty constitute one of the barriers to cross-border investment in SMEs and start-ups, as more risk of failure is involved in this type of investment; welcomes therefore the decision of the Commission to address this issue through a legislative proposal, as stated in its Action Plan on a Capital Markets Union, and looks forward to this future proposal;
Amendment 215 #
Motion for a resolution Paragraph 24 a (new) 24a. Calls on the Commission to encourage safe lending to companies by private individuals through peer-to-peer lending or retail bonds;
Amendment 216 #
Motion for a resolution Paragraph 24 b (new) 24b. Calls on the Commission to encourage new platforms for private equity financing such as mezzanine finance, public sector backed equity funds, business angels and fundraising; welcomes the Commission's assessment of the existing framework for crowdfunding and calls for a regulatory initiative to harmonise the European framework for crowdfunding and facilitate cross-border investment;
Amendment 217 #
Motion for a resolution Paragraph 24 c (new) 24c. Emphasises the role that Member States could play to achieve innovation- led, sustainable and inclusive growth through mission-oriented agencies at European level;
Amendment 218 #
Motion for a resolution Paragraph 25 25.
Amendment 219 #
Motion for a resolution Paragraph 25 25.
Amendment 22 #
Motion for a resolution Recital B a (new) Ba. whereas the financing of SMEs should be as broadly based as possible in order to ensure optimal access to finance for SMEs at every stage of the development of an enterprise; whereas this includes an adequate regulatory environment for all funding channels such as bank financing, capital market financing, promissory notes, leasing, crowdfunding, Venture Capital, peer-to- peer lending etc.;
Amendment 220 #
Motion for a resolution Paragraph 25 25.
Amendment 221 #
Motion for a resolution Paragraph 25 25. Welcomes the Commission’s proposals for a framework for simple, transparent and
Amendment 222 #
Motion for a resolution Paragraph 25 25. Welcomes the Commission’s proposals for a framework for simple, transparent and standardised (STS) securitisation and the calibration of the prudential requirements for banks; notes the possible effects of SME securitisation for bank lending to SMEs provided there is a full transparency on the underlining risks;
Amendment 223 #
Motion for a resolution Paragraph 25 25. Welcomes the Commission
Amendment 224 #
Motion for a resolution Paragraph 25 25. Welcomes the Commission
Amendment 225 #
Motion for a resolution Paragraph 26 Amendment 226 #
Motion for a resolution Paragraph 26 26. Underlines the potential of venture capital and risk capital finance, especially for non-listed start-ups and innovative SMEs; notes that these markets are underdeveloped in the EU; welcomes the Commission’s initiative to revise the EuVECA and EuSEF legislation; underlines furthermore the urgent need for the Commission to tackle the fragmentation along national borders in the whole European investment funds sector;
Amendment 227 #
Motion for a resolution Paragraph 26 a (new) 26a. Notes that during this period of fiscal restraint, cohesion policy is an important source of support for SMEs, but stresses that the complexity of the rules and the red tape involved in obtaining ESI funding affect SMEs in particular, resulting in disproportionate administrative costs; urges the Member States and the Commission to make significant progress towards further simplification so as to make funding more attractive for SMEs and calls on the Commission to clarify the link between the rules on ESI Funds and the rules on state aid;
Amendment 228 #
Motion for a resolution Paragraph 26 a (new) 26a. Notes that the complexity of new financial instruments may be used to transfer the risk from financial companies to SMEs, placing an additional burden on the latter;
Amendment 229 #
Motion for a resolution Paragraph 27 Amendment 23 #
Motion for a resolution Recital B a (new) Ba. whereas the availability of funding for SMEs differs across countries in the euro area2b; __________________ 2bECB survey on the Access to Finance of Enterprises in the euro area – April to September 2015
Amendment 230 #
Motion for a resolution Paragraph 27 27. Underlines the i
Amendment 231 #
Motion for a resolution Paragraph 27 27. Underlines the importance of
Amendment 232 #
Motion for a resolution Paragraph 27 27. Underlines the importance of corporate and income taxation for the internal financing capacity of SMEs; points out that due to unfair tax practices by multinational companies, SMEs experience up to 30% more taxation than they would have in the case of the fair tax practices, which consequently affect their internal financing capacity; welcomes, in that context, Commission's package on Anti-Tax Avoidance Package in order to achieve simpler, more effective and fairer taxation in the EU;
Amendment 233 #
Motion for a resolution Paragraph 27 27. Underlines the importance of corporate and income taxation for the internal financing capacity of SMEs; stresses the importance of low corporate and income taxation as well as simple and transparent taxation systems attracting finance and investments in order to create better possibilities for SMEs to start up and grow;
Amendment 234 #
Motion for a resolution Paragraph 27 27. Underlines the importance of corporate and income taxation for the internal financing capacity of SMEs; highlights the need to introduce financial exemptions for SMEs, primarily in their initial phase, to enable them having enough funds for the subsequent periods of their lifecycle;
Amendment 235 #
Motion for a resolution Paragraph 27 27. Underlines the importance of corporate and income taxation for the internal financing capacity of SMEs; calls the Commission in this regard to tackle the bias in favour of debt borrowing;
Amendment 236 #
Motion for a resolution Paragraph 27 a (new) 27a. Notes that European Union is the region in the global economy having the highest tax load, financing a big public sector and well fare states, but also influencing competitiveness and the financing of start-ups and SMEs; underlines the need for a policy of taxation reducing the overall tax load and lower taxes for work and enterprises;
Amendment 237 #
Motion for a resolution Paragraph 27 a (new) 27a. Welcomes the Commission's decision to launch a public consultation on a "start-up initiative" which is aimed at collecting stakeholders' views on how to create favourable conditions for entrepreneurs to start up and scale up their business in the EU;
Amendment 238 #
Motion for a resolution Paragraph 27 a (new) 27a. Reiterates the importance of the Cohesion Policy support through the European Structural and Investment Fund to SMEs and other EU financial instruments to SMEs; calls on better use of synergies between different EU funding sources and programmes in order to support SMEs competitiveness, internationalisation and innovation; Calls on the Member States to undertake necessary actions and speed up achievement of targets set in Small Business Act;
Amendment 239 #
Motion for a resolution Paragraph 27 a (new) 27a. Highlight the need of effective tax systems that promotes SMEs, including tax incentives for innovative start-ups as well as eliminating differences in tax treatment of financial instruments;
Amendment 24 #
Motion for a resolution Recital B a (new) Ba. whereas 77% of outstanding SME funding in Europe is provided for by banks; __________________ 2bECB survey on the Access to Finance of Enterprises in the euro area – April to September 2015
Amendment 240 #
Motion for a resolution Paragraph 27 a (new) 27a. Urges the Member States to examine and build on the experience of the Swiss WIR founded in 1934 and which rests on a credit clearing association between SMEs, considering that the WIR acts successfully as a macroeconomic stabiliser in times of tightening of credit or liquidity crises;
Amendment 241 #
Motion for a resolution Paragraph 27 a (new) 27a. Calls for the Commission to deliver an annual report to the European Parliament, outlining the status of implementation initiatives and its impact on the improvement of access to financing for SME's in Europe; calls on the Commission to include its own assessment of the strategic direction and recommended changes where applicable;
Amendment 242 #
Motion for a resolution Paragraph 27 a (new) 27a. Calls for an EU corporate taxation framework which would be fair for all companies, irrespective of their size, and simpler, in order to avoid creating loopholes and rewarding complex tax strategies by companies;
Amendment 243 #
Motion for a resolution Paragraph 27 b (new) 27b. Calls on the Commission to audit the existing instruments such as the structural funds and programmes such as COSME and HORIZON2020 as to the adequacy of their financial support to SMEs with respect to the pursued objectives and, where appropriate, as to their cushioning impact of the crisis on SMEs;
Amendment 244 #
Motion for a resolution Paragraph 27 b (new) 27b. Believes that the EIB/EIF should step up their efforts to provide SMEs with expertise to access funding and tools to facilitate contacts with investors such as, inter alia, the European Angels Fund; believes that the EIB/EIF should explore direct funding to innovative and risky projects that prudent regulatory requirements render difficult for private actors to finance; stresses however that the range of such projects and the funding made available by the EIB/EIF should not endanger its credit rating;
Amendment 245 #
Motion for a resolution Paragraph 27 b (new) 27b. Underlines the need for European companies to have company taxes making them competitive and attractive for investments and capital taxes stimulating investments in European industry;
Amendment 246 #
Motion for a resolution Paragraph 27 c (new) 27c. Stresses that the European economy must be attractive for a high level of FDI, stimulating not only capital markets but also private equity industry as well as venture capital and the investments in established European industry;
Amendment 247 #
Motion for a resolution Paragraph 27 c (new) 27c. Calls on the Commission to assess the role of the national/regional promotional banks as catalyser of long- term finance for SMEs notably, to identify and disseminate best practices and to encourage Member States where no such entities currently exist to set up national/regional promotional banks on this basis;
Amendment 248 #
Motion for a resolution Paragraph 27 d (new) 27d. Calls on the Commission to make public its report on the implementation of the Late Payment Directive, expected for the 16th of March 2016 and, if appropriate, to formulate new proposals to minimise risk of disruption to cash flow;
Amendment 249 #
Motion for a resolution Paragraph 27 e (new) 27e. Calls on the Commission and the Council to pay more attention to the demand-side concern of SMEs, to reflect it in a more appropriate manner in the recommendation on the economic policy of the euro area, in the country-specific recommendations and in the ex post assessment of the Member States' compliance with the recommendations;
Amendment 25 #
Motion for a resolution Recital B b (new) Bb. whereas improving access to finance for SMEs should not lead to a lowering of financial standards and regulation;
Amendment 26 #
Motion for a resolution Recital B b (new) Bb. whereas institutional investors such as insurance companies make an important contribution to SME financing through the passing and transformation of risks;
Amendment 27 #
Motion for a resolution Recital B b (new) Bb. whereas the measures taken in response to the crisis have not been sufficient to restore growth and development, but on the contrary have caused a collapse of demand, which at present is the main obstacle facing European SMEs;
Amendment 28 #
Motion for a resolution Recital B b (new) Bb. whereas studies have found that many female entrepreneurs felt discrimination with regards to their access to funding compared to men; whereas this perception is likely to impact on women's start-up decisions, and the nature and size of the businesses that they eventually establish;
Amendment 29 #
Motion for a resolution Recital B b (new) Bb. whereas, in Switzerland, the WIR Bank constitutes an complementary currency system that serves SME businesses mainly in hospitality, construction, manufacturing, retail and professional services; whereas the WIR offers a clearance mechanism in which businesses can buy from one another without using Swiss Francs; whereas, however, WIR is often used in combination with Swiss Franc in dual- currency transactions; whereas trade in WIR has a share of 1-2% of Swiss GDP; whereas the WIR has proved to be counter-cyclical with GDP, and even more so with the number of unemployed;
Amendment 3 #
Motion for a resolution Citation 16 b (new) Amendment 30 #
Motion for a resolution Recital B c (new) Bc. whereas access to funding has been found to be either the main barrier or one of the main barriers experienced by female entrepreneurs;
Amendment 31 #
Motion for a resolution Recital B c (new) Bc. whereas, as of April 2015, the 2011 Late Payment Directive had reportedly been correctly transposed by only 21 of the 28 Member States, despite the deadline having passed over two years hitherto;
Amendment 32 #
Motion for a resolution Recital B d (new) Bd. whereas the Commission warns in the Alert Mechanism Report 2016 that on the one hand, "Growth has become more reliant on domestic demand sources, in particular a more pronounced recovery in investment" and, on the other hand, "although consumption has recently strengthened, domestic demand remains subdued partly in light of significant deleveraging pressures in several Member States";
Amendment 33 #
Motion for a resolution Recital B e (new) Be. whereas, since the first round of the surveys on the access to finance of SMEs, "Finding customers" has remained the dominant concern for euro area SMEs (around 25% declared it to be the most pressing problem), while "access to finance" has ranked much lower in terms of concerns;
Amendment 34 #
Motion for a resolution Recital B f (new) Bf. whereas in its report of March 2016 on the subject, EBA found that there is no evidence that the SME SF has provided additional stimulus for lending to SMEs compared to the large corporates, finding instead that, in general, better capitalised banks lend more to SMEs and that the fees and charges imposed by the banks themselves are amongst the biggest hurdles to SME access to loans;
Amendment 35 #
Motion for a resolution Paragraph 1 1. Acknowledges the diversity of SMEs
Amendment 36 #
Motion for a resolution Paragraph 1 1. Acknowledges the diversity of SMEs
Amendment 37 #
Motion for a resolution Paragraph 1 1. Acknowledges the diversity of micro, SMEs and mid-caps in the Member States, which is reflected in their business models, size, geographical position, socioeconomic environment, stages of development, financial structure and legal form;
Amendment 38 #
Motion for a resolution Paragraph 1 1. Acknowledges the diversity of SMEs and mid-caps in the Member States, which is reflected in their business models, size, stages of development, financial structure
Amendment 39 #
Motion for a resolution Paragraph 1 1. Acknowledges the diversity of SMEs and mid-caps in the Member States, which
Amendment 4 #
Motion for a resolution Citation 18 a (new) – having regard to the EBA Report on the SME Supporting Factor1a, __________________ 1a EBA/OP/2016/04, 23.03.2016
Amendment 40 #
Motion for a resolution Paragraph 2 2.
Amendment 41 #
Motion for a resolution Paragraph 2 2. Notes differences in financing conditions for SMEs between Member States and between regions, notably the quantity and cost of available funding, which are influenced by
Amendment 42 #
Motion for a resolution Paragraph 2 2. Notes that while access to customers, rather than finance, remains the biggest problem for SMEs, there remain significant differences in financing conditions for SMEs between Member States, notably as regards the quantity and cost of available funding, which are influenced by SME-specific and country- specific factors;
Amendment 43 #
Motion for a resolution Paragraph 2 2. Notes differences in financing conditions for SMEs between Member States and in Member States, notably the quantity and cost of available funding, which are influenced by SME-specific and country and region-specific factors;
Amendment 44 #
Motion for a resolution Paragraph 2 2. Notes differences in financing needs and conditions for SMEs between Member States, notably the quantity and cost of available funding, which are influenced by SME-specific and country-specific factors and exacerbated by the geographical divides within the EU which often overlap with a deep socioeconomic cleavage at a continental level;
Amendment 45 #
Motion for a resolution Paragraph 2 2. Notes differences in financing conditions and needs for SMEs between Member States, notably the quantity and cost of available funding, which are influenced by SME-specific and country- specific factors; highlights that capital markets are fragmented and regulated differently across the EU and that some of the integration achieved has been lost due to the crisis;
Amendment 46 #
Motion for a resolution Paragraph 2 2. Notes differences in financing
Amendment 47 #
Motion for a resolution Paragraph 2 2. Notes differences in financing conditions for SMEs between Member States, notably the quantity and cost of available funding, which are influenced by SME-specific and country-specific factors, as well as by financial fragmentation and ‘country risk’;
Amendment 48 #
Motion for a resolution Paragraph 2 a (new) 2a. Believes that in a comprehensive and well-designed Capital Markets Union all market participants with the same relevant characteristics should face a single set of rules, have equal access to a set of financial instruments or services and be treated equally when they are active in the market;
Amendment 49 #
Motion for a resolution Paragraph 2 a (new) 2a. Notes that the low proportion of women running SMEs is partly due to a more difficult access to finance; regrets that the European Progress Microfinance Facility whose objective is to promote equal opportunities for women and men, had a 60:40 male-to-female ratio for microloans in 2013; calls therefore on the Commission to make sure that its programmes aiming at facilitating access to finance for SMEs do not disfavour women entrepreneurs;
Amendment 5 #
Motion for a resolution Citation 18 a (new) – having regard to the Commission Communication of 22 July 2015 entitled 'Working together for jobs and growth: The role of National Promotional Banks (NPBs) in supporting the Investment Plan for Europe' (COM(2015) 361 final);
Amendment 50 #
Motion for a resolution Paragraph 2 b (new) 2b. Calls on the Commission to assess discrimination faced by SMEs run by other vulnerable groups of society;
Amendment 51 #
Motion for a resolution Paragraph 3 3. Underlines the need for
Amendment 52 #
Motion for a resolution Paragraph 3 3. Underlines that the need for diverse funding options for SMEs does not end after the start-up phase, but that it continues throughout their lifecycle; stresses that access to finance is also of importance for the transfer of businesses; calls on the Commission and the Member States to support SMEs in this process;
Amendment 53 #
Motion for a resolution Paragraph 3 3. Underlines the need for diverse public and private funding options for SMEs throughout their lifecycle; stresses that access to finance is also of importance for the transfer of businesses; calls on the Commission and the Member States to support SMEs in this process;
Amendment 54 #
Motion for a resolution Paragraph 3 3. Underlines the need for diverse funding options for SMEs throughout their lifecycle and points out that a long-term strategic approach is required in order to safeguard business funding; stresses that access to finance is also of importance for the transfer of businesses; calls on the Commission and the Member States to support SMEs in this process, above all in the first three years of operation;
Amendment 55 #
Motion for a resolution Paragraph 3 3. Underlines the need for diverse funding options for SMEs throughout their lifecycle; stresses that access to finance is
Amendment 56 #
Motion for a resolution Paragraph 3 a (new) 3a. Recalls that special efforts should be made as regards funding for transferring SMEs to European buyers, where they are in competition with buyers outside the EU;
Amendment 57 #
Motion for a resolution Paragraph 4 4. Believes that a
Amendment 58 #
Motion for a resolution Paragraph 4 4. Believes that a diversified and stable financial services sector offering a wide range of cost-efficient tailor-made funding options serves the actual funding needs of SMEs best;
Amendment 59 #
Motion for a resolution Paragraph 4 4. Believes that a diversified financial services sector offering a wide range of cost-efficient tailor-made funding options serves the actual funding needs of SMEs best and makes long-term sustainable development possible;
Amendment 6 #
Motion for a resolution Citation 18 b (new) – having regard to the Directive 2011/7/EU of 16 February 2011 on combating late payment in commercial transactions;
Amendment 60 #
Motion for a resolution Paragraph 4 4. Believes that a diversified financial services sector offering a wide range of
Amendment 61 #
Motion for a resolution Paragraph 5 5. Encourages SMEs to
Amendment 62 #
Motion for a resolution Paragraph 5 5.
Amendment 63 #
Motion for a resolution Paragraph 5 5. Encourages SMEs to consider the whole EU as their home market and to use the potential of the single market for their financing needs; welcomes the Commission
Amendment 64 #
Motion for a resolution Paragraph 5 5. Encourages SMEs to consider the whole EU as their home market and to use the potential of the single market for their financing needs; welcomes the Commission’s initiatives supporting SMEs and start-ups in an upgraded Single Market, and urges the Commission to continue drafting proposals in favour of SMEs; underlines, in this context, the importance of the implementation of the Small Business Act; calls on the Commission for a follow-up to the Small Business Act;
Amendment 65 #
Motion for a resolution Paragraph 5 5. Encourages SMEs to consider the whole EU as their home market and to use the potential of the single market for their financing needs; welcomes the Commission
Amendment 66 #
Motion for a resolution Paragraph 5 5. Encourages SMEs to consider the whole EU as their home market and to use the potential of the single market for their financing needs; welcomes the Commission’s initiatives supporting SMEs and start-ups in an upgraded Single Market; underlines, in this context, the importance of convergence of rules and procedure across the Union and the implementation of the Small Business Act; calls on the Commission for a follow-up to the Small Business Act;
Amendment 67 #
Motion for a resolution Paragraph 5 5. Encourages SMEs to consider the whole EU as their home market and to use the potential of the single market for their financing needs; welcomes the Commission’s initiatives supporting SMEs and start-ups in an upgraded Single Market; underlines, in this context, the importance of the implementation of the Small Business Act; calls on the Commission for a follow-up to the Small Business Act; calls on the Commission and Member States to ensure coordination, consistency and synergies between European instruments and programmes for SMEs, such as the European Structural and Investment Funds (ESI funds), Horizon 2020 and COSME;
Amendment 68 #
Motion for a resolution Paragraph 5 a (new) 5a. Underlines that overcoming information problems about SMEs will help to improve access to capital markets for those growing medium-sized firms that are most likely to benefit from easier access to finance; Supports the idea of creating a minimum, simple and shared set of data to build a credit scoring system available to SMEs interested in accessing capital markets, to be implemented through the creation of a common European platform, where SMEs looking for finance could voluntarily insert their data and keep them up to date; believes that such an instrument would allow companies to reach international pools of liquidity;
Amendment 69 #
Motion for a resolution Paragraph 5 a (new) 5a. Recalls that a legal and business environment supportive of timely payments in commercial transactions is key for access to finance; underlines, in this context, the financial problems suffered by SMEs and the situation of uncertainty experienced by suppliers generated by late payments of public institutions and authorities; calls on the Commission to assess during the review of the late payment directive the introduction of specific measures aimed at easing payments for SMEs;
Amendment 7 #
Motion for a resolution Citation 18 c (new) – having regard to the Commission Alert Mechanism Report 2016 of 26 November 2015 (COM(2015) 691 final),
Amendment 70 #
Motion for a resolution Paragraph 5 a (new) 5a. Welcomes the Commission's initiative to restart work on the establishment of a genuine European market in retail financial services with the publication of the Green Paper on Retail Financial Services (2015); asks the Commission to pay particular attention to the specificities of SMEs and ensure that cross-border activities in the field of retail financial services lead to better access to finance for SMEs;
Amendment 71 #
Motion for a resolution Paragraph 6 6. Notes that SMEs and start-ups in particular may find it
Amendment 72 #
Motion for a resolution Paragraph 6 6. Notes that start-ups
Amendment 73 #
Motion for a resolution Paragraph 6 6. Notes that start-ups
Amendment 74 #
Motion for a resolution Paragraph 6 6. Notes that start-ups in particular find it difficult to obtain appropriate funding and to identify and meet regulatory financial requirements; encourages therefore Member States
Amendment 75 #
Motion for a resolution Paragraph 6 6. Notes that start-ups in particular find it difficult to obtain appropriate funding and to identify and meet regulatory financial
Amendment 76 #
Motion for a resolution Paragraph 6 6. Notes that start-ups in particular find it difficult to obtain appropriate funding and to identify and meet regulatory financial requirements; encourages therefore Member States in their efforts to create one-stop shops as hubs for all regulatory requirements for entrepreneurs and loan guarantee schemes; welcomes the Commission’s plan to launch a European Pact for starts-ups to address these issues;
Amendment 77 #
Motion for a resolution Paragraph 6 a (new) 6a. Asks for more flexibility aiming towards a tailor-made regulatory framework as against a one-size-fits-all approach in the sector; Acknowledges that the different country specific factors at economic, legal and cultural levels create an asymmetrical scenario as regards the financing needs for SMEs in the EU;
Amendment 78 #
Motion for a resolution Paragraph 6 a (new) 6a. Notes that rules on bankruptcy, insolvency and second chance opportunities remain very fragmented across the EU, and that this also restricts cross border investments; Believes that simplified and harmonised rules in the area would support start-ups, micro, SMEs and improve the EU's business environment;
Amendment 79 #
Motion for a resolution Paragraph 7 7.
Amendment 8 #
Motion for a resolution Citation 18 d (new) – having regard to the European Banking Authorities report on SMEs and SME supporting Factor (EBA/OP/2016/04 23 March 2016),
Amendment 80 #
Motion for a resolution Paragraph 7 7. Welcomes the Commission’s initiative to identify undue barriers and obstacles to the financial sector providing funding to the real economy, in particular SMEs; underlines the importance of simplifying or modifying rules which gave rise to unintended consequences or inhibition of SMEs development;
Amendment 81 #
Motion for a resolution Paragraph 7 7. Welcomes the Commission’s initiative to identify undue barriers and obstacles to the financial sector providing funding to the real economy, in particular SMEs; underlines the importance of simplifying or modifying rules which gave rise to unintended consequences, with negative effects on SMEs in particular, and of avoiding overregulation that could create confusion among SMEs;
Amendment 82 #
Motion for a resolution Paragraph 7 7. Welcomes the Commission
Amendment 83 #
Motion for a resolution Paragraph 7 7. Welcomes the Commission
Amendment 84 #
Motion for a resolution Paragraph 7 a (new) 7a. Proposes that the Commission and Member States adopt a strategic plan to support SME financing with a view to their internationalisation;
Amendment 85 #
Motion for a resolution Paragraph 7 a (new) 7a. Underlines that the development of new financial instruments is unlikely to play a major role in improving access to finance for SMEs; stresses on the other hand the risk that these tools may deepen the financialisation of economic activity, leading to less stable demand and higher financial fragility for SMEs and the overall economy;
Amendment 86 #
Motion for a resolution Paragraph 7 a (new) 7a. Stresses that there is no one-size-fits- all mode of finance and calls on the Commission to support the development of a broad range of tailored programmes, instruments and initiatives, ranging across equity (such as business angels, crowd funding and multilateral trading facilities), quasi-equity (such as mezzanine finance) and debt instruments (such as small-ticket company bonds, guarantee facilities and platforms), in partnerships between banks and other operators involved in SME financing (accountancy professionals, business or SME associations or chambers of commerce), in order to support businesses in their start-up, growth and transfer phases, taking into account their size, turnover and financing needs;
Amendment 87 #
Motion for a resolution Paragraph 7 a (new) 7a. Underlines the fact that the initiative to remove obstacles and barriers is one of the most important proposals for the financial sector to be able to providing funding for SMEs;
Amendment 88 #
Motion for a resolution Paragraph 7 a (new) 7a. Draws attention to the fact that in many Member States taxation of SMEs and of some multinational undertakings varies widely, which adversely affects the competitiveness of SMEs and significantly reduces the effectiveness of financing of SMEs from various sources;
Amendment 89 #
Motion for a resolution Paragraph 7 b (new) 7b. Reiterates that revised public procurement and concession contract rules should not hamper SMEs' and micro-enterprises' access to the procurement market;
Amendment 9 #
Motion for a resolution Recital -A (new) -A. whereas no single express definition of SMEs, other than the categorisations "small undertakings" and "medium-sized undertakings" under the Accounting Directive, is currently stated in the legislation of the Union;
Amendment 90 #
Motion for a resolution Paragraph 7 b (new) 7b. Believes that the fastest way to achieve a well-functioning capital markets union is to reduce national regulations hindering the well-functioning capital markets to have a broader impact all over the union and to reduce the burden of new regulations;
Amendment 91 #
Motion for a resolution Paragraph 7 c (new) 7c. Underlines that new proposals from Commission must not lead to more complex regulation that can affect investments negatively, undermining banks possibilities to investment and market making, to their ability to facilitate liquidity on the single market, thereby hurting the functionality of the existing capital markets;
Amendment 92 #
Motion for a resolution Paragraph 7 c (new) 7c. Stresses that the Commission should emphasise the important role that the stock market can play in improving access to liquidity for both SMEs and investors at different stages; recalls that stock markets designed specifically for SMEs are already in place in the euro area and that they were designed in response to specific market and financing requirements;
Amendment 93 #
Motion for a resolution Paragraph 8 8. Acknowledges that bank lending is t
Amendment 94 #
Motion for a resolution Paragraph 8 8. Acknowledges that bank lending is traditionally the most important external financing source for SMEs
Amendment 95 #
Motion for a resolution Paragraph 8 8. Acknowledges that bank lending is
Amendment 96 #
Motion for a resolution Paragraph 8 8. Acknowledges that bank lending is traditionally the most important external financing source for SMEs; underlines the important role of banks with specific regional and local knowledge and their long-term relationship with SMEs; highlights that bank-based and capital- based financing models should be complementary;
Amendment 97 #
Motion for a resolution Paragraph 8 a (new) 8a. Points out that where bank lending does not fulfil the financial and business needs for SMEs, a vacuum in capital is created, which might generate the conditions for illegal and criminal financing;
Amendment 98 #
Motion for a resolution Paragraph 8 a (new) 8a. Highlights that the financial crisis has led to the fragmentation of the EU savings and credit markets; emphasises that despite unconventional measures by the ECB and the creation, yet to be completed, of the Banking Union, credit conditions continue to vary across the euro area, reflecting differences in risk perception and economic conditions;
Amendment 99 #
Motion for a resolution Paragraph 8 a (new) 8a. Encourages banks to consider the whole EU as their home market and to use the potential of the single market to provide financing to SMEs, including SMEs that are not based in the same Member State as the bank in question;
source: 580.551
2016/04/22
REGI
83 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in generating growth and employment in
Amendment 10 #
Draft opinion Paragraph 1 a (new) 1a. Believes that major dysfunctions persist on the financial market as regards the granting of loans, in particular, when it comes to financing for newer and smaller enterprises; believes also that the differences in interest rates are still quite high between the various Member States, which makes it difficult for SMEs to access credit, especially in those countries most affected by the crisis, and feels that this should be rectified;
Amendment 11 #
Draft opinion Paragraph 1 a (new) 1a. Recalls the important role of SMEs in creating high-quality employment and their potential to boost future-oriented sectors of the economy including the Circular Economy, guided by the green public procurement as the appropriate tool to achieve these goals; Believes that opportunities for innovation should be recognized and promoted as sustainable job opportunities;
Amendment 12 #
Draft opinion Paragraph 1 a (new) 1a. Recalls that the austerity measures imposed by the Commission on Member States have reduced sources of public funding for SMEs;
Amendment 13 #
Draft opinion Paragraph 1 b (new) 1b. Encourages, given the high youth- unemployment rates, to boost entrepreneurial spirit in younger generations, and thus recalls the need to add entrepreneurship in school curricula as identified in the Small Business Act;
Amendment 14 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for MSMEs;
Amendment 15 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to make EU funding more attractive to SMEs and to improve the way in which capital markets fund the real economy
Amendment 16 #
Draft opinion Paragraph 2 2.
Amendment 17 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and
Amendment 18 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs since a sizeable share of economically significant SMEs cannot obtain financing from banks nor other suppliers of finance due to structural market characteristics; stresses the need
Amendment 19 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans, and to make EU funding more attractive to SMEs; believes that both the EU and the Member States must continue to develop and expand European ‘business angels’ networks and ways of increasing ‘crowd- funding’ potentials, to ensure that the survival of SMEs does not depend solely on financing from banks;
Amendment 2 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in generating growth and employment in EU regions; notes that
Amendment 20 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans, and to make EU funding more attractive to SMEs; draws the Commission's attention nevertheless to the importance of ensuring balanced information on the financial markets and protecting SMEs from the risks of speculation by institutional investors;
Amendment 21 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans, and to make EU funding more attractive to SMEs; underlines the importance of improving access to private and other forms of funding for SMEs and urges the Commission and the relevant authorities to support crowdfunding initiatives for such undertakings:
Amendment 22 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans, and to make EU funding more attractive to SMEs; considers that SMEs could become the backbone of our economy, if they were able to rely on the long-term support and competence of banks focused on sustainable investment;
Amendment 23 #
Draft opinion Paragraph 2 2. Welcomes initiatives designed to diversify sources of funding and reduce the cost of capital for SMEs; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans, and to make EU funding more attractive to
Amendment 24 #
Draft opinion Paragraph 2 a (new) 2a. Notes that bank lending is traditionally the most important external financing source for MSMEs; highlights that bank-based and capital-based financing models should be complementary; stresses the need to improve the way in which capital markets fund the real economy, by developing alternatives to bank loans;
Amendment 25 #
Draft opinion Paragraph 2 a (new) 2a. Stresses that promotional banks and credit institutions should have a strong local and regional connection in order to stimulate credits for SMEs; Underlines that the Commission needs to strengthen this sector and encourage the creation of new promotional or cooperative banks;
Amendment 26 #
Draft opinion Paragraph 2 a (new) 2a. Stresses that access to financing is certainly one of the most important components for the creation, survival, performance and growth of SME's;
Amendment 27 #
Draft opinion Paragraph 2 a (new) 2a. Asks the Commission to pay particular attention to improving access to finance for micro-enterprises, start-ups and scale- ups;
Amendment 28 #
Draft opinion Paragraph 2 b (new) 2b. Reminds that the co-existence of public and private parties involves challenges, there are unaligned interests and expectations at the outset and there is a lack of necessary knowledge on both sides, therefore, notes that managing authorities do not know the financial market and its mechanisms and private stakeholders are not informed about the regulation, state aid, public procurements;
Amendment 29 #
Draft opinion Paragraph 3 3. Calls on the Commission and the Member States to
Amendment 3 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in
Amendment 30 #
Draft opinion Paragraph 3 3. Calls on the Commission and Member States to provide a clear and stable legal environment, and to guarantee coordination, consistency and synergies between instruments and programmes
Amendment 31 #
Draft opinion Paragraph 3 3.
Amendment 32 #
Draft opinion Paragraph 3 3. Calls on the Commission and Member States to provide a clear and stable legal environment and effective advisory support, and to guarantee coordination, consistency and synergies between instruments and programmes which support SMEs, such as the European Structural and Investment Funds (ESI funds), Horizon 2020 and COSME; welcomes the
Amendment 33 #
Draft opinion Paragraph 3 3. Calls on the Commission
Amendment 34 #
Draft opinion Paragraph 3 3.
Amendment 35 #
Draft opinion Paragraph 3 3. Calls on the Commission and Member States to provide a clear and stable legal
Amendment 36 #
Draft opinion Paragraph 3 3. Calls on the Commission and Member States to provide a clear and stable legal environment, and to guarantee coordination, consistency and synergies between instruments and programmes which support SMEs, such as the European Structural and Investment Funds (ESI funds), Horizon 2020 and COSME and also with the various instruments proposed by the EIB for SMEs; welcomes the Juncker investment plan
Amendment 37 #
Draft opinion Paragraph 3 3. Calls on the Commission and Member States to provide a clear and stable legal environment, and to guarantee coordination, consistency and synergies between instruments and programmes which support SMEs, such as the European Structural and Investment Funds (ESI funds), Horizon 2020 and COSME; welcomes the Juncker investment plan, and draws SMEs' attention to the opportunities offered by the European Fund for Strategic Investment (EFSI); stresses the need to improve information for SMEs on the conditions of eligibility and the allocation of European funding;
Amendment 38 #
Draft opinion Paragraph 3 a (new) 3a. Points out that the EFSI cannot and should not replace the cohesion policy as the basic instrument for support to SMEs in the EU and should continue to act as a supplement to the ESIF;
Amendment 39 #
Draft opinion Paragraph 3 a (new) 3a. Stresses the need for banks to remain the principal source of credit for SMEs and for investment banks not to be favoured by means of securitisation instruments; takes the view, furthermore, that transferring risk from banks to non- banking institutions such as pension funds increases systemic risk and could give rise to new forms of moral hazard in that pension funds could in future run into difficulties and need to be bailed out using taxpayers' money;
Amendment 4 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in generating growth and employment in EU regions; notes that in the current climate of fiscal constraint, cohesion policy is a vital source
Amendment 40 #
Draft opinion Paragraph 3 a (new) 3a. Points out that direct state aid, which does not distort the benefits of competition at EU level, is sometimes necessary in order to assure the needed funds for start- ups and MSMEs, especially where the socioeconomic conditions do not allow for another source of access to finance; calls on the European Commission to set out the conditions for compatible state aid at national and regional level and to clarify synergies and complementarity between EU rules on ESI Funds and on state aid;
Amendment 41 #
Draft opinion Paragraph 3 a (new) 3a. Believes that regulatory proposals connected to the Capital Markets Union should not lead to excessive regulatory burdens on SMEs or limiting the benefits this sector could reap as a result of creating a single capital market;
Amendment 42 #
Draft opinion Paragraph 3 a (new) 3a. Notes that ESI Funds should contribute to the achievement of the objectives of the Investment Plan in complementarity with EFSI support, in a way which brings demonstrable added value and also ensures coordination and synergies;
Amendment 43 #
Draft opinion Paragraph 3 a (new) 3a. Calls on Member States to consider the complementary use of ESI Funds and the EFSI in the context of the SME Window of the latter in order to further support SMEs by providing additional funding opportunities;
Amendment 44 #
Draft opinion Paragraph 3 a (new) 3a. Draws Member States’ attention to the importance of a stable tax environment for businesses, since this is essential for the prosperity and development of SMEs;
Amendment 45 #
Draft opinion Paragraph 3 b (new) 3b. Voices its concerns at the plan for a Capital Markets Union which, although intended to provide broader, more uniform access to credit for individuals and businesses, thus enhancing their financial inclusion, irrespective of the Member State in which they are based, will increase risk levels throughout the credit and capital system by financialising the economy and penalising savers, in particular in the medium and long term;
Amendment 46 #
Draft opinion Paragraph 3 b (new) 3b. Calls on the Commission and Member States to promote a holistic approach to the dissemination of information on all EU funding opportunities (including Banking Union, Capital Markets Union and EU regional funds) at European, national, regional and local level;
Amendment 47 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate
Amendment 48 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate administrative costs and the time lag before payments are actually received, affects SMEs in particular; calls then for a thorough simplification of the process
Amendment 49 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including
Amendment 5 #
Draft opinion Paragraph 1 1. Emphasises the key role of MSMEs in generating growth and employment in EU regions; notes that in the current climate of fiscal constraint, cohesion policy is a vital source of support for SMEs;
Amendment 50 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate administrative costs and the time lag before payments are actually received, affects SMEs in particular; calls for a thorough simplification of the process, subject to proper attention being paid to the need for checks for fraud and errors, and urges the Commission to clarify how the rules governing ESI Funds and the rules on State aid fit together;
Amendment 51 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate administrative costs and the time lag before payments are actually received, affects SMEs in particular; calls for a thorough simplification of the process, and urges the Commission to clarify how the rules governing ESI Funds and the rules on State aid fit together; urges the regional authorities to introduce framework provisions to facilitate the inclusion of SMEs in production groups operating at regional level;
Amendment 52 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate administrative costs and the time lag before payments are actually received, affects SMEs in particular; calls for a thorough simplification of the process, and urges the Commission to clarify how the rules governing ESI Funds and the rules on State aid fit together; recalls that in terms of access to State aid SMEs are often at a disadvantage compared with large firms, which is something that the Commission should monitor closely;
Amendment 53 #
Draft opinion Paragraph 4 4. Stresses that the complexity of the rules and the amount of red tape involved in obtaining ESI funding, including disproportionate administrative costs and the time lag before payments are actually received, affects SMEs in particular; calls for a thorough simplification of the process, and urges the Commission to clarify how the rules governing ESI Funds and the rules on State aid fit together; welcomes in this context the activities of the High Level Group on Simplification of cohesion policy;
Amendment 54 #
Draft opinion Paragraph 4 a (new) 4a. Emphasises the need to decrease and rationalize excessive administrative and regulatory burden which is imposed on SMEs; at the same time stresses the need to avoid multiple regulatory requirements imposed on credit institutions, in particular smaller banks;
Amendment 55 #
Draft opinion Paragraph 4 a (new) 4a. Calls for a simplified and less regulated access to credit, in particular taking into account the specific characteristics of micro-enterprises and start-ups; regrets that investors and banks are often reluctant to finance businesses in their start-up and early expansion phases and that many MSMEs, find it hard to gain access to external funding; asks, therefore, the Commission, Member States and regional authorities to pay particular attention to improving access to finance for microenterprises and start-ups that want to scale-up;
Amendment 56 #
Draft opinion Paragraph 4 a (new) 4a. Stresses that quick access to funding on favourable terms is crucial to SMEs’ development; points out, therefore, that the excessive length of time it currently takes for EU funding applications to be processed is forcing SMEs to seek other, more expensive, solutions or preventing their projects from coming to fruition, which is hampering their development; draws attention to the need for local or regional development agencies to give SMEs easier access to repayable instruments in the EU budget;
Amendment 57 #
Draft opinion Paragraph 4 a (new) 4a. Stresses that regional and local banks have an important role to play in financing SMEs because they have better knowledge of the local and regional economies and unique methods of assessing credit risk of local businesses;
Amendment 58 #
Draft opinion Paragraph 4 a (new) 4a. Stresses the importance of collecting data on the market responds to particular changes (e.g. the new management costs and fees)for the purpose of supporting the future decision making;
Amendment 59 #
Draft opinion Paragraph 4 b (new) 4b. Emphasises that increased competition for the banking sector is a necessary step towards decreasing its domination in providing sources of financing in the EU, particularly for the SME sector; calls therefore for eliminating the barriers that limit this competition on the part of non-banking entities and for financial instruments, new players and innovation from outside the financial sector, as well as for legislative initiatives in this area;
Amendment 6 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in generating growth and employment in EU regions, ensuring two thirds of jobs in private sector and more than half of the added value created by the enterprises in the EU; notes that in the current climate of fiscal constraint, cohesion policy is a vital source of support for SMEs to enhance their competitiveness;
Amendment 60 #
Draft opinion Paragraph 4 b (new) 4b. Emphasizes that there is remaining uncertainty about the legal framework because the new guidance is being written and published during project development and some of the views in the guidance support to create extra rules rather than clarifying the regulations;
Amendment 61 #
Draft opinion Paragraph 5 5.
Amendment 62 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based, the business sector in which they operate and the stage they have reached in their development; calls on the Commission, Member States
Amendment 63 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based, the business sector in which they operate and the stage they have reached in their development; calls on the Commission
Amendment 64 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based (for instance, metropolitan, urban, rural, backward, remote or outermost regions), the business sector in which they operate and the stage they have reached in their development; calls on the Commission, Member States and regional authorities to take these factors into account in coming up with tailor-made financing arrangements for various types of SME (for instance, micro-enterprises, innovative start-ups and also family, craft or industrial enterprises) which in particular exploit the scope for combining subsidies and funding instruments.
Amendment 65 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based, especially underlining the difficult circumstances in rural and sparsely populated areas, the business sector in which they operate and
Amendment 66 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based, in particular if they are located in an outermost region, the business sector in which they operate and the stage they have reached in their development; calls on the Commission, Member States and regional authorities to take these factors into account in coming up with tailor-made financing arrangements which in particular exploit the scope for combining subsidies and funding instruments.
Amendment 67 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based, the business sector in which they operate and the stage they have reached in their development; calls on the Commission, Member States and regional authorities to take these factors into account in coming up with tailor-made financing arrangements which in particular exploit the scope for combining subsidies and funding instruments, as well as to provide effective advisory support to SMEs, especially on the regional level, on different available sources of funding that fits their characteristics and needs.
Amendment 68 #
Draft opinion Paragraph 5 5. Notes that, setting aside the issue of their size, each SME is different and there are many factors which determine their needs and the ease with which they can obtain funding, such as where they are based, the business sector in which they operate and the stage they have reached in their development; calls on the Commission, Member States and regional authorities to take these factors into account in coming up with tailor-made financing arrangements which in particular exploit the scope for combining subsidies and funding instruments; calls on the Member States in view of the specific characteristics of SMEs also to create incentives to support SME access to the global market.
Amendment 69 #
Draft opinion Paragraph 5 a (new) 5a. Recommends the appointment by the Commission of the High Level Group Monitoring Simplification for Beneficiaries of ESI Funds as an important step towards reducing the administrative burden of SMEs in accessing EU funding opportunities;
Amendment 7 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in generating growth and employment in EU regions; notes that in the current climate of fiscal constraint, cohesion policy is a vital
Amendment 70 #
Draft opinion Paragraph 5 b (new) 5b. Highlights the Enterprise Europe Network as an important source of information for SMEs and start-ups on how to tap into EU funding opportunities;
Amendment 71 #
Draft opinion Paragraph 5 c (new) 5c. Supports the Commission's call for evidence on whether current financial legislation is synergised and effective;
Amendment 72 #
Draft opinion Paragraph 5 d (new) 5d. Notes that the bank sector is a vital source of funding for SMEs; reiterates however the importance of developing an SME economy that is not entirely dependent on the economic performance of the banking sector; stresses in this regard that the needs of SMEs vary and that a diverse plethora of ways to access finance is therefore crucial; highlights FinTech as an innovative financial technology which could increase access to finance for SMEs by allowing investors and SMEs alike to better navigate and identify more targeted and beneficial partnerships;
Amendment 73 #
Draft opinion Paragraph 5 e (new) 5e. Calls on the Member States to foster a risk-taking and capital market culture; reiterates that financial education for SMEs is key to increasing the use and acceptance of capital market solutions, allowing for a better assessment of costs, benefits and the associated risks; calls on the Member States to enhance the financial literacy of SMEs and to develop entrepreneurship-focussed education in schools and universities;
Amendment 74 #
Draft opinion Paragraph 5 f (new) 5f. Emphasises the importance of the transparency, standardisation and public availability of SME financing information for investors, supervisors and other stakeholders in order to understand the risk profile and make informed decisions; welcomes the Commission's SME information strategy;
Amendment 75 #
Draft opinion Paragraph 5 g (new) 5g. Underlines the importance of corporate and income taxation for the internal financing capacity of SMEs and considers there to be positive implications for lowering taxes for start-ups;
Amendment 76 #
Draft opinion Paragraph 5 a (new) 5а. Notes that SMEs in the regions as defined in Article 174 of the Treaty on the Functioning of the European Union, especially the northernmost regions with very low population density and island, cross-border and mountain regions, face additional difficulties owing to their lack of accessibility, infrastructure, connectivity and human resources, which affects their access to capital; calls for a holistic approach covering the ESIF and other EU programmes, including the EFSI, aimed at supporting SMEs in the aforementioned regions;
Amendment 77 #
Draft opinion Paragraph 5 a (new) 5a. Asks the Commission to come forward with a report or study on the uptake of financial resources in the different parts of Europe, whereby a territorial analysis on a country-by-country basis is included as well as an analysis of the differences between availability and the uptake of financial resources in less developed regions, the transition regions and the more developed regions;
Amendment 78 #
Draft opinion Paragraph 5 a (new) 5a. Calls on the Commission and Member States to support business training projects for women and young people in rural areas, the setting up of SMEs and improvements to the functioning of existing SMEs, thereby helping to create jobs, increase revenue and prevent rural depopulation;
Amendment 79 #
Draft opinion Paragraph 5 a (new) 5a. Stresses that Europe's SME sector is extremely varied; believes it essential for the range of schemes designed to give SMEs easier access to funding to include a variety of innovative measures that can take account of the specific needs of as many SMEs as possible;
Amendment 8 #
Draft opinion Paragraph 1 1. Emphasises the key role of SMEs in generating growth and employment in EU regions; notes that in the current climate of fiscal constraint,
Amendment 80 #
Draft opinion Paragraph 5 a (new) 5a. Points out that, if political action focuses solely on increasing the supply of credit, without addressing the problem of weak consumer demand resulting from, among other things, the increase in inequality, it is unlikely to generate significant development and new jobs;
Amendment 81 #
Draft opinion Paragraph 5 a (new) 5a. Recalls the need to increase efforts in order to fill the gender gap as identified in the Small Business Act and to encourage the participation of women in enterprises, start-ups and all other entrepreneurial activities, in particular when ESI Funds are involved;
Amendment 82 #
Draft opinion Paragraph 5 b (new) 5b. Encourages the Commission to foster the establishment, not least at regional level, of new financial services providers offering financial solutions to established businesses and start-ups;
Amendment 83 #
Draft opinion Paragraph 5 c (new) 5c. Calls on the Commission to pay special attention to micro-enterprises and family firms, as they are the businesses that have had the greatest difficulty in gaining access to credit during the economic crisis in Europe;
Amendment 9 #
Draft opinion Paragraph 1 a (new) 1a. Points out key factors enabling SMEs to develop, such as business-friendly environment, modern infrastructure, the existence of technologically advanced sectors of the economy and a highly qualified workforce; believes, therefore, that Capital Markets Union initiatives should be prepared in such a way as to lower the transaction costs of raising capital and to reach the micro-enterprises group, which is both the largest and the one with the weakest links to capital markets;
source: 582.097
2016/04/28
CULT
48 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Recognises the increasing importance of micro-enterprises and SMEs in the cultural and creative sector for investment, growth, innovation and employment, but also in their key role, together with cultural NGOs, networks and platforms, in preserving and promoting cultural and linguistic diversity and a wide range of traditional arts and crafts; recognises that culture and innovation are crucial factors in helping regions to attract investment, support creative talent, and foster social cohesion, and thereby contribute to local development which local and regional authorities are well-placed to support;
Amendment 10 #
Draft opinion Paragraph 2 2. Underlines that Eurostat figures show that 2.9 % of the EU’s workforce, i.e. 6.3 million people, were employed in the cultural sector in 2014, which is comparable to the proportion of the workforce employed in the banking and insurance sector; points out, further, that according to estimates the cultural and creative sectors account for more than 3% of jobs in the EU and of EU GDP;
Amendment 11 #
Draft opinion Paragraph 2 2. Underlines that Eurostat figures show that 2.9 % of the EU’s workforce, i.e. 6.3 million people, were employed in the cultural sector in 2014,
Amendment 12 #
Draft opinion Paragraph 2 a (new) 2a. Notes that , in economic terms, sport accounts for 1.76 % of EU gross added value, corresponds to EUR 175 billion; notes that, although 2.12 % of jobs in Europe employing 4.5 million people are generated by sport, no major structural funding is being earmarked for it, from the ERDF for example; calls for measures to support SME staffing through grassroots sport and infrastructural measures through the ESF;
Amendment 13 #
Draft opinion Paragraph 2 b (new) 2b. Given the impact of the financial costs on growth, competitiveness and job creation in the EU, considers that the EU institutions should jointly develop a series of ‘smart regulations’ to step up the digitisation of financial services to reduce risk and ensure stability;
Amendment 14 #
Draft opinion Paragraph 2 c (new) 2c. Is examining the possibility of providing incentives for setting up PPPs to launch or administer sports and cultural infrastructures and supporting business plans to encourage sports and cultural tourism; is investigating the possibilities of innovation procurement under Horizon 2020 ;
Amendment 15 #
Draft opinion Paragraph 3 3. Highlights the fact that employment in the cultural sector is unlikely to be offshored, as it is connected to specific cultural and historical competences; points out that enterprises in the cultural sector thus have a key role to play in the economic development and in spreading the culture of the regions and their Member States;
Amendment 16 #
Draft opinion Paragraph 3 a (new) 3 a. Stresses that further promoting and investing in cultural and creative industries will be beneficial for reducing the youth unemployment rate as according to a recent study cultural and creative sectors employed more 15-29- year-olds than any other economic sector (19.1 % of total employment in CCS versus 18.6 % in the rest of the economy)1a; _________________ 1aCultural times - the first global map of cultural and creative industries /December 2015/
Amendment 17 #
Draft opinion Paragraph 3 a (new) 3 a. Highlights that difficulty in attracting investment is often due to problems in assessing risks and valuing intangible property - such as intellectual property rights; notes that public policy at EU, national and regional level has a role to play in encouraging investors and improving their relationship with the creative and cultural industries;
Amendment 18 #
Draft opinion Paragraph 3 a (new) 3a. Notes that support for the cultural and creative sector could greatly help to combat youth unemployment and create new jobs, given the large numbers of young people pursuing studies in this area;
Amendment 19 #
Draft opinion Paragraph 3 b (new) 3 b. Encourages Member states to enhance the development of creative competences and set up business skills development networks between educational and training systems, creative companies and cultural and arts institutions in order to foster an interdisciplinary approach; encourages the EU and Member States to expand solutions to encourage talent and skills development within CCI (Cultural and Creative Industry) as for instance foreseeing innovative and flexible grants for supporting creativity and innovation and talent development;
Amendment 2 #
Draft opinion Paragraph 1 1. Recognises the increasing importance of micro-enterprises and SMEs in the cultural and creative sector for investment, growth, innovation and employment, but also in their key role in preserving and promoting cultural and linguistic diversity; acknowledges the problems in attracting capital owing to the limited data base, the lack of sufficient information and the difficulty of evaluating of intellectual property;
Amendment 20 #
Draft opinion Paragraph 4 4. Understands that in order to improve access to finance in the cultural and creative sector it is necessary to develop expertise in assessing the specific risks of a lack of tangible collateral and a dependence on intangible assets; notes that this expertise is needed both within micro- enterprises and SMEs and within the financial institutions; stresses that intellectual property rights can be accepted as collateral; underlines the importance of harmonised legislative framework provisions regarding tax and intellectual property in the EU that could help attract investments and funding for cultural and creative SMEs;
Amendment 21 #
Draft opinion Paragraph 4 4. Understands that in order to improve access to finance in the cultural and creative sector it is necessary to develop expertise in assessing the specific risks of a lack of tangible collateral and a dependence on intangible assets; notes that this expertise is needed both within micro- enterprises and SMEs and within the financial institutions, which often do not have the information they require to analyse the economic models employed in the cultural and creative industries; stresses that intellectual property rights can be accepted as collateral;
Amendment 22 #
Draft opinion Paragraph 4 4. Understands that in order to improve access to finance in the cultural and creative sector it is necessary to develop expertise in assessing the specific risks of a lack of tangible collateral
Amendment 23 #
Draft opinion Paragraph 4 4. Understands that in order to improve access to finance in the cultural and creative sector it is necessary to develop expertise in assessing the specific risks of a lack of tangible collateral and a dependence on intangible assets; notes that this expertise is needed both within micro-
Amendment 24 #
Draft opinion Paragraph 4 a (new) 4 a. Acknowledges that while some Member States have already well developed policies for Cultural and creative industries' (CCIs), others are still at the stage of planning; underlines therefore the need for fostering better interaction between the EU and Member States and facilitating exchanges of best practices between Member States in the field of funding mechanisms for SMEs operating in the CCS;
Amendment 25 #
Draft opinion Paragraph 4 a (new) 4a. Points out, further, that steps should be taken to remedy the undervaluation by financial institutions of the intangible assets held by the cultural and creative industries, so that those institutions can adapt to the complex array of business plans and models employed in the cultural sector;
Amendment 26 #
Draft opinion Paragraph 4 a (new) 4 a. Highlights that a lack of readily available information on sources of funding is a current challenge for SMEs and start ups, and that awareness of and an understanding of the funding schemes available needs to be fostered;
Amendment 27 #
Draft opinion Paragraph 5 5. Welcomes the launch of the Guarantee Facility of the Creative Europe programme as one of the means of addressing the pressing need for accessing loan financing for innovative and sustainable projects in the cultural and creative sectors, where the financing gap is expected to exceed EUR 1 billion per year according to the Commission’s ex-ante assessment; recalls that the financing gap is the amount in investments lost as companies with sound business strategies and good risk profiles are either refused a loan or decide not to apply for one altogether because they lack sufficient collateral assets;
Amendment 28 #
Draft opinion Paragraph 5 5. Welcomes the launch of the Guarantee Facility of the Creative Europe programme as one of the means of addressing the pressing need for accessing loan financing for innovative and sustainable projects in the cultural and creative sectors, where the financing gap is expected to exceed EUR 1 billion per year according to the Commission’s ex-ante assessment; calls for measures to encourage digitalisation in small and medium-sized or family businesses engaged in related activities, such as regional and summer cinemas, to so as to keep pace with competition arising from the digital growth;
Amendment 29 #
Draft opinion Paragraph 5 5.
Amendment 3 #
Draft opinion Paragraph 1 a (new) 1a. Notes that most products and services in the creative sector are digital and are being increasingly accessed and used by consumers; notes the increased need for access to financial technology (FinTech) with lower financing costs, this being in the mutual interest of consumers, creators, distributors and publishers;
Amendment 30 #
Draft opinion Paragraph 5 5. Welcomes the launch of the Guarantee Facility of the Creative Europe programme as one of the means of addressing the pressing need for accessing loan financing for innovative and sustainable projects in the cultural and creative sectors, encompassing micro-enterprises, SMEs, smaller non-profit associations and NGOs, where the financing gap is expected to exceed EUR 1 billion per year according to the Commission
Amendment 31 #
Draft opinion Paragraph 5 a (new) 5a. Considers the current financial allocation for the Guarantee Facility of the Creative Europe programme to be totally insufficient considering that this instrument responds effectively to the needs of small and medium-sized enterprises in the cultural and creative sectors; considers inadequate the mechanisms and measures adopted by the European Union to address the structural weakness of small and medium-sized enterprises in the cultural and creative sector, which has been exacerbated by economic policies based on austerity and the implementation of financial deregulation measures, such as, for example, those which underpin the Capital Markets Union;
Amendment 32 #
Draft opinion Paragraph 5 a (new) 5 a. Notes with concern that according to the survey conducted in 2013 by the Commission, barriers of access to finance in the cultural and creative sector are mostly related to high uncertainty of market demand, lack of business skills, dependence on public investment schemes and specific market conditions and consequences, in order to address these, more accurate, non-traditional sector specific financial instruments would be needed;
Amendment 33 #
Draft opinion Paragraph 5 a (new) 5a. Emphasises that, in addition to problems in obtaining funding, SMEs and microenterprises in the cultural sector often face obstacles in the form of red tape and tax formalities; urges, therefore, certain Member States, including France, to consider introducing simplification mechanisms or even tax incentives in order to foster development and recruitment in this growth sector;
Amendment 34 #
Draft opinion Paragraph 5 a (new) 5 a. regrets that the system for granting additional points to projects in the Guarantee Facility will only consider projects on a Member State level, meaning that projects using minority languages or from marginalised areas may be unable to access support, and the true diversity of the EU and its multinational states is not reflected;
Amendment 35 #
Draft opinion Paragraph 5 b (new) 5 b. Welcomes the new report published by the EU Member States expert group on access to finance for the CCS (creative and cultural sectors), a report drafted through the open method of coordination, and emphasises that the recommendations made therein are to be implemented by the Commission so as to create more efficient and innovative instruments and also to facilitate access to finance;
Amendment 36 #
Draft opinion Paragraph 5 b (new) 5 b. Welcomes the initiative of the integrated training scheme the Guarantee Facility proposes to bankers and financial intermediaries; strongly recommends the necessary measures to be put in place in 2016, as in the original Commission proposal;
Amendment 37 #
Draft opinion Paragraph 5 c (new) Amendment 38 #
Draft opinion Paragraph 5 d (new) 5 d. Proposes that more data analysis on existing financing tools should be carried out so as to identify best financing practices and to increase awareness and understanding of the investment and business opportunities offered by CCS companies;
Amendment 39 #
Draft opinion Paragraph 6 6. Considers it to be crucial that the EU and its Member States to put in place the preconditions for direct access to capital markets, broaden the range of financing instruments available to micro-
Amendment 4 #
Draft opinion Paragraph 1 a (new) 1a. Emphasises that with the publication of the results of the Commission's 'Survey on access to finance for cultural and creative sectors' in October 2013, it has emerged that cultural and creative enterprises have huge difficulties in obtaining access to credit and an estimated financial shortfall of between EUR 8 billion and EUR 13.3 billion;
Amendment 40 #
Draft opinion Paragraph 6 6. Considers it to be crucial that the EU
Amendment 41 #
Draft opinion Paragraph 6 6. Considers it to be crucial that the EU and its Member States broaden the range of financing instruments available to micro- enterprises and SMEs in the cultural and creative sector with new and innovative financing schemes such as microcredit, repayable contributions, crowdfunding,
Amendment 42 #
Draft opinion Paragraph 6 6. Acknowledges that most CCS Small and Medium-Sized Enterprises (SMEs) face difficulties in accessing finance and that there is a lack of understanding of the CCS' unique characteristics by the financiers; Considers it to be crucial that the EU and its Member States broaden the range of financing instruments available to micro-
Amendment 43 #
Draft opinion Paragraph 6 6. Considers it to be crucial that the EU and its Member States broaden the range of financing instruments available to micro- enterprises and SMEs in the cultural and creative sector with new and innovative financing schemes such as microcredit, repayable contributions, crowdfunding, risk capital finance and venture capital
Amendment 44 #
Draft opinion Paragraph 6 6. Considers it to be crucial, against the background of cuts in public funding for the cultural sectors, that the EU and its Member States broaden the range of financing instruments available to micro- enterprises and SMEs in the cultural and creative sector with new and innovative financing schemes such as microcredit, repayable contributions, crowdfunding, risk capital finance and venture capital.
Amendment 45 #
Draft opinion Paragraph 6 a (new) 6a. Points out that much more can still be done to bring about the more effective interaction between the European Structural and Investment Funds (ESI) and other European programmes which is outlined for the 2014-2020 programming period, with specific reference to ERASMUS+ and Creative Europe, in points 4.6 and 6.4 of Annex 1 to the 'Common Provisions Regulation'1a, through the provision of better information on an EU-wide basis and by means of much more resolute implementation in the Member States and their regions; _________________ 1aRegulation (EU) No 1303/2013 of the European Parliament and of the Council of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006 (OJ L 347, 20.12.2013, p. 320); Annex 1: Common Strategic Framework, ibid., p. 412. 1a
Amendment 46 #
Draft opinion Paragraph 6 a (new) 6 a. Notes the role that the Programme for the Competitiveness of enterprises and SMEs (COSME) is playing in supporting SMEs and facilitating their access to finance; in this regard underlines how important instruments like the Loan Guarantee Facility can be for the development of the cultural and creative sector and for the necessary fair remuneration of the creators guaranteeing the sector's well-being;
Amendment 47 #
Draft opinion Paragraph 6 a (new) 6 a. Emphasises the role of exchange programs, in particular mobility in VET which enable cooperation between different business lines, combine creativity with business skills and allow participants to better understand the real needs of enterprises; calls therefore for widening the financial opportunities from which CCS SMEs can benefit in order to provide high quality mobility opportunities;
Amendment 48 #
Draft opinion Paragraph 6 a (new) 6 a. Welcomes the ongoing project of the Commission on crowdfunding for the cultural and creative sectors and notes that according to good practices of CCS finance in Member States, policy and regulatory frameworks should focus on reward-based and donation-based crowdfunding which have been the most frequently used by SMEs in the creative sector;
Amendment 5 #
Draft opinion Paragraph 1 a (new) 1a. Points out that the cultural and creative sectors are key sectors for the EU economy and that they consist mostly of SMEs, but that those SMEs have very specific characteristics and encounter more problems in securing funding;
Amendment 6 #
Draft opinion Paragraph 1 a (new) 1 a. Notes that the financial needs of the cultural and creative sectors are different from those of other sectors, and therefore sector-specific solutions for access to finance are needed;
Amendment 7 #
Draft opinion Paragraph 1 b (new) 1 b. Highlights the importance of support for SMEs that operate in minority or lesser-used languages, and those that are distinctive and uniquely connected to their region or area in order to better protect and promote the true cultural and linguistic diversity of Europe;
Amendment 8 #
Draft opinion Paragraph 2 2. Underlines that Eurostat figures show that 2.9 % of the EU’s workforce, i.e. 6.3 million people, were employed in the cultural sector in 2014, which is comparable to the proportion of the workforce employed in the banking and insurance sector; stresses furthermore that the cultural and creative sectors make up nearly 4.5% of the European economy, as nearly 1.4 million small and medium- sized businesses generate and distribute creative content all over Europe;
Amendment 9 #
Draft opinion Paragraph 2 2. Underlines that Eurostat figures show that 2.9 % of the EU’s workforce, i.e. 6.3 million people, were employed in the cultural sector in 2014, which is comparable to the proportion of the workforce employed in the banking and insurance sector; calls on the Commission to provide financial incentives and technical support for start-up projects by young people concerned with cultural protection and and heritage;
source: 582.203
2016/04/29
BUDG
27 amendments...
Amendment 1 #
Draft opinion Paragraph 1 1. Stresses that both the Commission and the European Central Bank recognise that access to financing is the second most serious problem facing SMEs, and it is therefore crucial that the EU budget should further facilitate SME access to funding and markets;
Amendment 10 #
Draft opinion Paragraph 2 2. Welcomes the introduction and the performance of COSME as the first EU programme specifically benefitting SMEs; strongly believes that the current COSME appropriations, as well as those for other well-performing EU funding programmes such as the SME Instrument or InnovFin under Horizon 2020, should
Amendment 11 #
Draft opinion Paragraph 2 2. Welcomes the introduction and the performance of COSME as the first EU programme specifically benefitting SMEs; strongly believes that the current COSME appropriations, as well as those for other well-performing EU funding programmes such as the SME Instrument or InnovFin under Horizon 2020, should
Amendment 12 #
Draft opinion Paragraph 2 2. Welcomes the introduction and the performance of COSME as the first EU programme specifically benefitting SMEs; strongly believes that the current COSME appropriations, as well as those for other well-performing EU funding programmes such as the SME Instrument or InnovFin under Horizon 2020, should at least be maintained for the remaining years of the current MFF; points to the fact that Parliament has constantly sought to reinforce COSME appropriations; stresses the importance of entrepreneurship coaching, guidance and training measures for all COSME population groups, particularly young people, women and older entrepreneurs, in order to promote gender equality;
Amendment 13 #
Draft opinion Paragraph 3 3.
Amendment 14 #
Draft opinion Paragraph 3 3. Welcomes th
Amendment 15 #
Draft opinion Paragraph 3 3. Welcomes the fact that EUR 75 billion have been earmarked to support SMEs under the EFSI in order to cover more justified financial needs of SMEs; will closely monitor the leverage created by its financing and its geographic distribution; notes the success of the SME window and calls for full use to be made of the flexibility clause provided in the regulation to increase this envelope; invites Commission to tackle the issue of unequal geographical spread in EU 28 MS in designing of further products to be launched;
Amendment 16 #
Draft opinion Paragraph 3 3. Welcomes the fact that EUR 75 billion have been earmarked to support SMEs under the EFSI; notes that most of the earmarked funding for SMEs has already been distributed; will closely monitor the leverage created by its financing and its geographic distribution; notes the success of the SME window and calls for full use to be made of the flexibility clause provided in the regulation to increase this envelope;
Amendment 17 #
Draft opinion Paragraph 4 4. Welcomes the further opening of ESIFs to SMEs and the design of new dedicated schemes;
Amendment 18 #
Draft opinion Paragraph 4 4.
Amendment 19 #
Draft opinion Paragraph 4 4. Welcomes the further opening of ESIFs to SMEs and the design
Amendment 2 #
Draft opinion Paragraph 1 1. Stresses that the EU budget should further facilitate SME access to funding and markets; underlines that SMEs, as the backbone of European economy, contribute to a great extent to the creation of jobs and growth across the EU;
Amendment 20 #
Draft opinion Paragraph 4 4. Welcomes the further opening of ESIFs to SMEs and the design of new dedicated schemes as a mitigating measure to facilitate SMEs access to finance; supports the shift from grants to the provision of guarantees through financial instruments with higher leverage and less distortive effects on competition; recalls the importance of structural funding for attracting further private investment to benefit SMEs in poorer regions due to their higher lending rates, especially in south and south-eastern member states, therefore demanding greater attention;
Amendment 21 #
Draft opinion Paragraph 4 a (new) 4a. Supports the increased use by the Commission of the financial instruments which is necessary for mobilising additional investments from the private and public sector and reaching out to crucial target groups such as microenterprises and SMEs; calls on the Commission to simplify the access to the financial instruments for microenterprises and SMEs and to provide them with couching activities, business and financial advice;
Amendment 22 #
Draft opinion Paragraph 5 5. Believes that
Amendment 23 #
Draft opinion Paragraph 5 5. Believes that the rules governing SME access to these instruments should be further simplified and made more flexible; calls on the Member States and the Commission to
Amendment 24 #
Draft opinion Paragraph 5 5. Believes that the rules governing SME access to these instruments should be further simplified and made more flexible; particularly in the case of microfinance; calls on the Member States and the Commission to spare no effort to
Amendment 25 #
Draft opinion Paragraph 5 a (new) 5a. Believes that action should be taken to boost information and training channels for small businesses and entrepreneurs on the various European funding possibilities that they can access, so that they can acquire information on all the financial instruments provided for them by the European budget, such as those available under the LIFE+ and Creative Europe programmes and funds for social entrepreneurship by social businesses, or European Investment Bank instruments, since these can provide financing that is more targeted and appropriate to their needs, based on the sector in which the SME is carrying on its activities; welcomes, in this context, the creation of the SME access to finance portal, www.access2finance.eu;
Amendment 26 #
Draft opinion Paragraph 5 a (new) 5a. Welcomes the addition of the European Investment Advisory Hub as Europe's gateway to investment support but believes more could be done to develop signposting and support for SMEs to access relevant EU funds.
Amendment 27 #
Draft opinion Paragraph 5 b (new) 5b. Takes the view that both the EU and the Member States must continue to develop and expand European ‘business angels’ networks and the various ways of increasing ‘crowd-funding’ potentials in the EU, to ensure that the survival of this type of enterprise does not depend solely on financing from banks.
Amendment 3 #
Draft opinion Paragraph 1 1. Stresses that the EU budget should further facilitate
Amendment 4 #
Draft opinion Paragraph 1 1. Stresses that the EU budget should further facilitate SME access to funding and markets; and promote a sufficiently diversified range of equity instruments across the Union, which is needed along the growth path of a company;
Amendment 5 #
Draft opinion Paragraph 1 1. Stresses that the EU budget should further facilitate SME access to funding
Amendment 6 #
Draft opinion Paragraph 1 a (new) 1a. Believes that major dysfunctions persist on the financial market as regards the granting of loans, in particular, when it comes to financing for newer and smaller enterprises; believes also that the differences in interest rates are still too high between the various Member States, which makes it difficult for SMEs to access credit, especially in those countries most affected by the crisis, and feels that this should be rectified;
Amendment 7 #
Draft opinion Paragraph 1 a (new) 1a. Notes that bank lending still is one of the most important source of financing for European SMEs and therefore urges a healthy and stable banking sector in order to strengthen SMEs' access to finance; backs in this context the SME supporting factor which should be implemented as a permanent basis, ensuring that regulations follow the proportionality principle and acknowledge the specific role small local banks play for SME finance;
Amendment 8 #
Draft opinion Paragraph 1 a (new) 1a. Notes that young entrepreneurs and women in particular face additional barriers in access to finance and emphasises that more should be done to unlock their potential as job creators and drivers of economic growth; this should be considered by the Commission as a measure of success or failure in its reports to the Parliament;
Amendment 9 #
Draft opinion Paragraph 1 b (new) 1b. Notes that SMEs in member states that do not have public investment banks may be at a disadvantage compared to those in countries with functioning publicly owned investment banks as assessment of public interest is not a priority for private banking institutions;
source: 582.202
|
History
(these mark the time of scraping, not the official date of the change)
2016-09-07Show (1) Changes | Timetravel
| activities/2/docs/0/text |
|
2016-09-02Show (1) Changes | Timetravel
| activities/2/docs |
|
2016-07-08Show (3) Changes | Timetravel
| activities/3 |
|
| activities/4/date |
Old
2016-09-12T00:00:00New
2016-09-15T00:00:00 |
| activities/4/type |
Old
Indicative plenary sitting date, 1st reading/single readingNew
Vote in plenary scheduled |
2016-07-01Show (8) Changes | Timetravel
| activities/0/committees/2/shadows/2/mepref |
Old
4f1ac45bb819f25896000009New
57327be2d1d1c56688000000 |
| activities/0/committees/2/shadows/2/name |
Old
DE BACKER PhilippeNew
WIERINCK Lieve |
| activities/1/committees/2/shadows/2/mepref |
Old
4f1ac45bb819f25896000009New
57327be2d1d1c56688000000 |
| activities/1/committees/2/shadows/2/name |
Old
DE BACKER PhilippeNew
WIERINCK Lieve |
| activities/2 |
|
| committees/2/shadows/2/mepref |
Old
4f1ac45bb819f25896000009New
57327be2d1d1c56688000000 |
| committees/2/shadows/2/name |
Old
DE BACKER PhilippeNew
WIERINCK Lieve |
| procedure/stage_reached |
Old
Awaiting committee decisionNew
Awaiting Parliament 1st reading / single reading / budget 1st stage |
2016-06-23Show (2) Changes | Timetravel
| activities/1/committees |
|
| activities/1/type |
Old
Vote scheduled in committee, 1st reading/single readingNew
Vote in committee, 1st reading/single reading |
2016-05-28Show (1) Changes | Timetravel
| activities/1/date |
Old
2016-06-14T00:00:00New
2016-06-21T00:00:00 |
2016-05-27Show (1) Changes | Timetravel
| activities/1/date |
Old
2016-06-13T00:00:00New
2016-06-14T00:00:00 |
2016-04-15Show (1) Changes | Timetravel
| activities/2/date |
Old
2016-07-04T00:00:00New
2016-09-12T00:00:00 |
2016-03-18Show (1) Changes | Timetravel
| activities/2 |
|
2016-03-15Show (3) Changes | Timetravel
| activities/0 |
|
| procedure/dossier_of_the_committee |
ECON/8/05643
|
| procedure/stage_reached |
Old
Preparatory phase in ParliamentNew
Awaiting committee decision |
2016-03-12Show (5) Changes
| activities |
|
| committees |
|
| links |
|
| other |
|
| procedure |
|