European Union and US authorities set joint SME practises

The European Union and US authorities held a conference in June-2011 to discuss improvements in SME practises. The main issues raised were reduction to SME trading barriers, minimising administrative duties and improving regulation of services.

The conference hosted in Brussels brought officials and executives of the EU and USA that govern SME matters and also included large SME businesses. During the conference topics concerning SMEs were discussed in length particularly the barriers imposed on trading, reducing admin work, the use of green technology, access to the third world markets and governing intellectual-property (IP) via an online portal.

Authorities concluded in a collaborative report that the problems discussed at the conference will be followed up in a seminar at Washington in autumn-2011. Also further topics regarding SMEs that require attention were highlighted, this including the availability of finance, multiple entrepreneurship opportunities, export market access and cooperation between regulators and SMEs.