EU plans to slash red tape for medium-sized companies

On Wednesday in Brussels, the European Commission presented another bus package, this time for small and medium-sized enterprises (SMEs). In order to make Europe more competitive, Brussels wants to soften and reduce countless laws and regulations. According to the new proposals, companies are to save annual administrative costs of EUR 400 million, for example by creating a new category for small and medium-sized enterprises.Also so-called small …

Brussels wants to relieve the burden on small and medium-sized enterprises and expand the EU internal market. Data protection requirements are also to be eliminated. This project not only meets with approval.

Brussels suggested exempting companies from 250 to 750 employees from establishing a register of use of personal data and removing the paper requirement for documents accompanying the products sold.

Brussels proposes to reduce the rules for 38,000 middle-sized companies. ...

EU plans to slash red tape for medium-sized companies

The EU unveiled plans Wednesday to cut red tape for medium-sized companies and abolish barriers for businesses to sell goods across the bloc as part of its efforts to catch up with China and the United States.

These companies will benefit from certain advantages and exemptions, so far reserved for smaller companies, in various areas such as personal data protection or financial reporting.