The European Commission made the point strongly when it launched the Small Businesses Act last year, stating that “vibrant SMEs will make Europe more robust to stand against the uncertainty encountered in the globalised world of today”.
According to the Act, the “Think Small First” principle should apply to all public policies, including arrangements made to facilitate SMEs’ access to finance and to support timely payment in commercial transactions. In my speech I would like to address two important issues related to the economic situation of SMEs.