|
||
|
||
 |
recent releases from Leicester Shire Development Agency, Business Link for Leicestershire and Business Link Lincolnshire & Rutland | 
|
|
|
4 September 2002
NEWS RELEASE
LEICESTERSHIRE BUSINESSES BENEFIT FROM NEW DEFINITION
Small businesses in Leicestershire look set to benefit from a decision to revise the definition of small and medium-sized enterprises (SMEs), according to the Euro Info Centre at Business Link for Leicestershire.
The European Commission is making the changes to ensure that only businesses meeting specific criteria receive extra benefits and special treatment.
At present SMEs are recognised as businesses with less than 250 employees and a turnover of up to 40 million euros (about £24 million). A 'small business' has less than 50 employees and a turnover not exceeding seven million euros (about £4.2 million), and a 'micro enterprise' has less than ten employees.
Under the new guidelines, there are plans to increase financial thresholds and give special attention to micro-enterprises. This category would be extended to include all types of enterprise whatever their legal status - bringing extra benefits to family businesses and craftsmen.
As an SME, a business has access to specific treatment in several areas including national state aid schemes, Regional Funds and community programmes to support research and innovation. They also have access to free information and advice from business support agencies such as Business Link.
Sarah Wilson, Euro Info Centre manager, said, "SMEs are recognised as having an important social and economic function and in light of this they receive many benefits. We welcome anything that gives more businesses the opportunity to access these high levels of support and funding."
Ends
For further media information
CONTACT Kate Downs on 0116 254 4472
|
|
  | ||