The Renew Europe Group has always recognised the importance of small and medium-sized enterprises as they are at the heart of the European economy and are the driving force behind innovation and future growth. However, the Covid-19 pandemic, including Member States’ uncoordinated restrictive actions to it and the resulting economic slump, the disruption of value chains, as well as Russia’s weaponisation of energy following its invasion of Ukraine have thrown a large number of SMEs in a precarious situation.
Renew Europe believes that there can be no real economic stability or growth in Europe without a thriving SME environment. In addition, SMEs are key drivers of the green and digital transitions that are essential to ensure that Europe remains globally competitive and innovative.
This paper outlines Renew Europe’s views on SMEs and includes the priorities the Commission’s upcoming SME Relief package should address. We outline actions that our Group sees as central to restore the health and growth prospects of European SMEs.