(Source: European Court of Auditors)
Small and medium-sized enterprises (SMEs) are key to the EU’s economy. But they have not really benefited from EU action aimed at enhancing their competitiveness. That is the conclusion reached by the European Court of Auditors in a special report published today. EU funds stimulated SMEs’ willingness to invest, but their impact and effectiveness on competitiveness were rather limited, to the extent that most supported SMEs did simply not derive any real benefit from the EU support. The auditors urge the European Commission and the Member States to make better use of EU funding so that it effectively helps SMEs.