The European Commission will adopt the review of the Small Business Act for Europe, Europe’s policy framework for SMEs on February 23.

The review will present an overview of the progress made in implementing the SBA launched by the Commission in 2008 and propose ways to improve its uptake.

The review, based on consultation of SME business associations and the relevant public authorities in member states, will maintain the 10 guiding principles. It will also insist on the full implementation of the existing actions set out in the SBA, in particular the ‘Think Small First’ principle.

New actions will be proposed to take into account the latest economic developments and ensure a close link with the priorities of the Europe 2020 strategy.

SMEs represent 99.8 per cent of all enterprises.

Adopted in June 2008, the Small Business Act for Europe reflects the Commission’s political will to recognise the central role of SMEs in the EU economy.