UNDER EMBARGO UNTIL 01 October 2015 12:15
FSB reacts to EU plan for Capital Markets Union, stresses the need to deliver tangible benefits to small businesses
Commenting on the European Commission publication of an action plan for the Capital Markets Union, John Allan, National Chairman for the Federation of Small Businesses, said:
“We welcome this plan and look forward to working with the European Commission and Commissioner Hill to ensure it delivers tangibly better funding solutions for small businesses, and helps diversification away from bank finance. The ‘think small first’ principle must provide the guiding focus to this plan as it seeks to address ongoing challenges facing small businesses and supports economic growth.
“Some of the initial measures in this action plan are promising, notably around encouraging cross-border angel investing, sharing credit data, promoting securitisation and modernising the Prospectus Directive. We look forward to working with the European Commission to see their successful development and implementation. Since the development of markets vary so widely, it is vital that each EU member state has the ability to implement this action plan in the format that best suits them. Sharing best practice should be the preferred route rather than harmonisation.”
Area Administrator - North & Midlands
The Federation of Small Businesses is the UK's largest campaigning pressure group promoting and protecting the interests of the self-employed and owners of small firms. Formed in 1974, it now has around 200,000 members across 33 regions and 188 branches.
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