Feeds

EU Commissioner wants to ease SMEs' red tape burden

Keeping the credit crunch wolves at bay

Application security programs and practises

The European Union yesterday called on Member States to participate in a major review of the accounting directives for small biz firms to help reduce the administrative burden on SMEs.

Charlie McCreevy, who is the EU Commissioner for the Internal Market and Services, said that during this “difficult period” of ongoing economic doom and gloom the small biz world, which many tech multinationals have increasingly punted their goods at in recent years, could be easily overlooked.

“All the talk in the press is about the banks, the big financial institutions, the mortgage lenders. We are all affected by what is happening. What we must not forget is that for small businesses, life goes on,” said McCreevy. “They remain the backbone of the European economy.”

He said the EU has already adopted measures aimed at cutting through the red tape for SMEs, as well as saving a few Euro cents in the area of company law for mergers and divisions. McCreevy claimed €1bn a year has been kept in the piggy bank since measures were fast-tracked in 2007 and April this year.

But the EU hasn’t gone far enough on accounting rules for SMEs, he said.

In July 2008 an independent finance group headed by Edmund Stoiber presented a report to the EU in which it found immediate savings of €5.7bn if diminutive outfits were exempted from the accounting framework and no longer had to prepare annual accounts.

Despite some objections to the findings among the Stoiber group, proposals were put forward to McCreevy in July to overhaul the system and exempt “micro entities” from the current accounting rules.

The Commissioner said that adopting the proposals would benefit European business and offered a better solution than simply making “piecemeal changes” in the current choppy economic environment. ®

Mobile application security vulnerability report

More from The Register

next story
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.