Byers urges EU to adopt SME charter

Speaking to businesses in Lisbon, Byers revealed new figures that showed the need to cut start-up costs for new businesses.

He contrasted the position in Europe – where on average it takes 12 weeks and costs $2000 to set up a business – with that in the United States where it takes about a week and costs $500.

Byers said that with small companies accounting for two out of three jobs in Europe, regulation can be a barrier to economic growth and job creation.


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