European SMEs Road to a Sustainable Recovery

Submitted by Imogen Allan on 11 May 2021

Business leaders and policymakers across the Single Market are starting to outline long-term economic recovery plans as the EU’s vaccine programme increases.

The global crisis has caused challenges for industries across ecosystems, however in planning for a sustainable recovery, the Single Market needs to make use of the economic approaches adopted by regions that managed the crisis best.

This year’s winning regions at the European Entrepreneurial Region Awards highlighted how the COVID-19 crisis has provided an opportunity to reset their economic developments whilst showcasing the need for SMEs to reconsider their business models and resilience of their supply chains.

The French Provence-Alpes-Côte d'Azur region was praised for including its SME-strategy in its regional development plan. The plan aims to create a model of sustainable economic recovery.

Structural reforms and European funds have enabled development of strong connections for SMEs, resulting in successful long- term international collaboration. The Silesian region in Poland, which is a major hub for mining and metalwork, has seen recent structural reforms whilst receiving European funding.

By focussing on sustainable practices, the EU can help SMEs benefit from the opportunities the Single Market has to offer.

Read the full article here.

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