Byers urges EU to adopt SME charter
Trade secretary Stephen Byers has called on the European Union to adopt a charter for small companies which will help deliver the environment in Europe necessary for small companies to prosper and grow.
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.