The EBF supports the initiative of the European Commission to consult on how the definition of micro, small and medium-sized enterprises (SMEs) could be improved to keep being fit for purpose. We fully agree on the importance of SMEs as the backbone of the EU economy and as key motors of new investment and job creation, this is why having an updated definition of these entities is clearly a step into the right direction. As financing the economy, and in a wider sense, financing growth, is a key central strategic priority for the EBF, we fully support an initiative that seeks to review the current definition to ensure that it remains fit for purpose and meets its objectives in the current economic environment.
The EBF is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
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