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The EU Recovery Plan will be effective if it also benefits SMEs

The EU Recovery Plan will be effective if it also benefits SMEs

CPME welcomes the agreement reached by EU leaders on July 21st.

For the first time in its history, Europe borrows to invest and relaunch the economic machine, notably under the impetus of France. France could benefit from nearly €40 billion in subsidies to implement its own recovery plan.

However, this agreement, concluded at the price of major financial cuts, worry SMEs.

The budget extensions planned for some programs under the European Union’s 2021-2027 budget have been forgotten:

  • The Horizon Europe framework program loses €8,5 billion (from €13,5 to €5 billion),
  • The InvestEU program is reduced by €24,7 billion (from €30,3 billion to €5,6 billion); there is a risk that the SME component of the InvestEU program loses resources,
  • The Just Transition Fund, designed to support Green Deal and climate neutrality, is cut by €20 billion euros (from €30 to €10 billion).

As for the new solvency support instrument (SSI), originally worth €31 billion, it is disappearing, whereas it was intended to support SMEs recapitalization.

SMEs must not be left behind in this recovery plan.

CPME draws the attention of European Parliament, who will examine the plan on July 23rd, and requests that:

  • SMEs solvency be supported by all forms of equity and quasi-equity investments,
  • Resources allocated to the several programs be distributed simply and transparently and reach SMEs promptly.

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