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Why a more accurate EU definition of SMEs matters!

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  • Infelise, Federico
  • Valiante, Diego

Abstract

As part of the European Union’s commitment to deliver greater access to finance for small- and medium-sized enterprises (SMEs), EU policy-makers will have to deal with a fragmented market landscape and responses by individual member states to address failures. On the basis of some early evidence, this Commentary calls for a rethinking on the part of the EU of its definition of an SME, which currently does not take into account the internal market dimension. A more accurate definition, reflecting the internal market and the stages of evolution of a firm and its financing needs, would allow better benchmarking and a comparison of policy responses that often claim to address market failures in SME finance.

Suggested Citation

  • Infelise, Federico & Valiante, Diego, 2013. "Why a more accurate EU definition of SMEs matters!," ECMI Papers 8599, Centre for European Policy Studies.
    • Handle: RePEc:eps:ecmiwp:8599
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    File URL: http://www.ceps.eu/system/files/FI%20%2526%20DV%20New%20Definition%20for%20SMEs_0.pdf
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