The European Commission proposed on Wednesday to lighten certain regulatory obligations for 38,000 companies of intermediate size, between 250 and 750 employees, following a pro-company turn aimed at restoring Europe’s competitiveness against international competitors.
These groups will benefit from certain advantages and exemptions, until now reserved for smaller companies (less than 250 employees), in different fields, such as the protection of personal data or financial reports.
“The goal is to help SMEs grow,” said the vice president of the European Commission, Stéphane Séjéné.
This measure implements one of Brussels’s promises to relive growth in Europe, an emergency reinforced by the aggressive commercial policy of Donald Trump.
Objective: Reduce business administrative costs by 25%
The European Executive has pledged to reduce companies by 25% by 25% by 2029.
The proposal presented on Wednesday simplifies in particular the obligation of companies to establish a record for the use of personal data. Organizations with less than 750 employees will only have to keep these records if these data have a “high risk”.
The Commission also proposes to eliminate the obligation of the paper format for the documents that accompany the products sold in Europe, such as the instructions for use.
Its digitalization will allow companies to disseminate this information and national authorities to verify it more easily.
The digital champions, the United States but also China have fallen in recent years a gap in terms of economic growth with a stagnant Europe.
The EU intends to return to the career by applying the recommendations made last year by the former Heads of Italian Government Enrico Letta and Mario Draghi in two very publicized reports.
Source: BFM TV
