Excessive red tape and national gold-plating must now become a thing of the past.
The Small Business Act, adopted in February, is a policy framework covering a range of legislative proposals and non-legislative commitments with a range of measures to help small enterprises, which make up 98 per cent of EU businesses, to achieve considerable growth.
It consists of five legislative initiatives and ten guiding principles with corresponding pro-SME actions, including measures, strongly advocated by Conservatives, to simplify and encourage small business access to government contracts.
Promotion of SMEs and improved access to R&D funding are also covered. The heart of the Act is a commitment to cut vast administrative burdens faced by the EU's SMEs.
Conservatives have especially welcomed the inclusion of small business filter in all future impact assessments, which will ensure that legislation is looked at from the perspective if the entrepreneur.