SMEs are the backbone of the EU’s business landscape, but they often struggle to adapt to new regulatory and tax requirements due to their limited resources. A report highlights that 55% of SMEs cited regulatory obstacles and administrative burdens as their most significant challenges. The fragmented regulatory environment in the EU imposes substantial challenges on SMEs, increasing compliance costs and often deterring smaller companies from expanding or even continuing operations. Europe struggles to translate innovation into commercialization, owing to inconsistent and restrictive regulations that hinder the scaling up of innovative companies.
Source Aleksandra Bal
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