The review of the European Union’s internal market is not only geared towards enhancing consumer confidence and delivering more competitive products to the customer. There are a lot of initiatives already taking place to encourage and assist businesses, particularly those which merit particular attention – notably small and medium-sized enterprises. Better regulation, which involves removing unnecessary bureaucracy, is one of them – but there are also others.

The European Commission is planning to present a legislative framework for small businesses by next year, driven by the “think small first” concept. In its recent communication on the single market, it indicates that the so-called Small Business Act for Europe could act as a catalyst to further reduce unnecessary administrative burdens, encourage participation in EU programmes, facilitate access to public procurement and reduce hurdles to cross-border trading. The commission’s reasoning is that with one act, it would be able to group the fragmented legislation that currently relates to small business.

Another legislative proposal that is also on the cards is the creation of a statute for a European Private Company. This legal instrument will probably follow similar lines as those adopted for the European Company, the European Economic Interest Grouping and the European Co-operative Society. The companies that are targeted by such legislation are those carrying out cross-border trade. If the legislation is set, all so-called EPCs would have a similar legal framework and constitution in each Member State, regardless of their place of registration. This would in turn make it easier for them to set up operating companies in other EU countries.

The other step being contemplated by the European Commission is action relating to the tax environment. It continues to insist on reducing compliance costs and also indicates that new initiatives may be undertaken to reduce double taxation. A bolder suggestion is that of allowing companies to choose an EU-wide tax base. From the outset, the latter move may encounter tough opposition, particularly from various member states but also possibly from some representatives within the private sector.

The review does not limit itself to the internal workings of the European bloc. Efforts to open up new markets and have better access to current ones are continuously being made. These last weeks, for instance, included trade talks with India and China, but of course there are many other markets that can be further accessible to European companies. This too is mentioned as part of the review, with the European Commission signalling further initiatives involving the negotiation of Free Trade Agreements. Promoting the enforcement of intellectual property rights across the world is also highlighted, particularly since the abuse of IPRs is detrimental to European products and innovation. Increased global acceptance of EU standards and competition rules should also go a long way to improve third-country market access.

The single market is set to continue being bolstered by technological innovation. Next year, the European Commission is planning to present a legislative framework for electronic invoicing, an action plan on electronic authentication and electronic signatures (a vital tool to ensure the smooth transition from paper to electronic forms in various scenarios) as well as the start of the implementation of the electronic customs system.

The list of what needs to be done to further integrate what started as several economic markets has not yet been exhausted. Further initiatives are, no doubt, to be expected from the European Commission. Yet as this review takes shape, and the measures start being implemented gradually, it would mean another set of steps taken towards consolidating the present situation and fulfilling more of citizens’ and businesses’ wishes for a more efficient single market.

More detailed information is available on: http://ec.europa.eu/citizens_agenda/index_en.htm .

Mr Micallef is Consultation Coordinator at Forum Malta

fl-Ewropa.

The first part of this article was carried last Thursday