Weekly digest - EU news for businesses 11/12/2017
Events to look out for
Organise an event for Industry Week 2018. The European Commission (EC) is organising a second 'European Industry Day' on 22-23 February 2018 in Brussels. To accompany the event, a series of local events will take place across Europe during the same week as part of 'Industry Week'. Stakeholders from any sector of industry, research and innovation are now invited to submit their proposals for organising a local event.
Additional loans for cultural and creative small and medium sized-enterprises (SMEs) thanks to Cultural and Creative Sector Guarantee Facility. In order to strengthen the cultural and creative sector in Europe, the Cultural and Creative Sector Guarantee Facility of the Creative Europe programme has received an additional €60 million through the European Fund for Strategic Investments (EFSI). With this additional budget, the size of Guarantee Facility will increase from EUR 121 million to €181 million and is expected to generate more than €1 billion in loans for thousands of cultural and creative SMEs.
Two new agreements unlock €50 million of fresh funding for Finnish businesses. The European Investment Bank Group, Aktia Bank and Savings Banks Group in Finland signed a new agreement to finance small businesses in Finland. With a contribution of €20 million from the European Regional Development Fund (ERDF), this initiative is expected to generate €50 million of additional funding for the direct benefit of innovative Finnish businesses.
EIF and Crédit du Nord Group sign a €100 million agreement for innovative companies in France. The European Investment Fund (EIF) and Crédit du Nord Group together with its regional banks Courtois, Kolb, Laydernier, Nuger, Banque Rhône-Alpes, Société Marseillaise de Crédit, Tarneaud and Crédit du Nord have signed a guarantee transaction to increase lending to innovative small and medium-sized enterprises (SMEs) and small mid-caps in France.
EIB Group joined forces with local Banks to support businesses in Georgia. The European Investment Bank (EIB) and the European Investment Fund (EIF) – jointly the EIB Group – signed guarantee agreements with TBC Bank in Georgia to support the equivalent of over €90 million of lending to Georgian small businesses over the coming years.
EIF and ProCredit Bank sign first agreement in Bosnia and Herzegovina. The European Investment Fund (EIF) and ProCredit Bank in Bosnia and Herzegovina (PCBH) have signed an agreement to provide guarantees for €30 million of new loans to small and medium-sized local businesses. The proposed transaction will allow PCBH to offer new debt financing products with substantially reduced collateral requirements to local SMEs.
EU policies for better business
EU and Japan finalise Economic Partnership Agreement. The EU and Japan reached last week an agreement on the final details of the EU-Japan Economic Partnership Agreement (EPA) signed last July. As a next step, the European Commission will submit the text agreed for the approval of the European Parliament and EU Member States.
VAT: European Commission welcomes agreement on simpler and more efficient rules for businesses that sell goods online. The Commission agreed last week on a series of new measures to improve how VAT works for online companies in the EU. The new system will make it easier for consumers and businesses, in particular start-ups and SMEs, to buy and sell goods cross-border online.
EU institutions strike a deal to modernise the EU's trade defence. The European Commission, the Council and the European Parliament struck an agreement on a way to modernise the EU's trade defence instruments. The agreed changes will make the EU's anti-dumping and anti-subsidy procedures more adapted to the challenges of the global economy. The investigations will be shorter, more transparent and easier to use for smaller companies.
Targeted consultation on the scope and structure of a guide on socially responsible public procurement. The European Commission is looking to create a guide on socially responsible EU Public Procurement and would like to hear from you. What type of guidance should be published and how to make the best use of collected good practice? Have your say until the 1 March 2018.
Showcase your Intellectual Property (IP) success! The European IPR Helpdesk is looking for case studies of SMEs using IP to achieve business success. Submit your story directly to Alejandra Aluja (alejandra.aluja(at)iprhelpdesk.eu) and Paula Barnola (paula.barnola(at)iprhelpdesk.eu). No sure how to tell your story? Take a look at some examples in the online library.