The European Commission has launched its first Single Market Programme (SMP) to support Europe’s small businesses and protect consumers. The COVID-19 pandemic has shown the importance of a well-functioning Single Market for the resilience of Europe’s economy. This Programme, which brings together activities financed under six predecessor programmes in business competitiveness, consumer protection, financial services, food chain and more, will provide €4.2 billion to support and strengthen the Single Market over the period 2021-2027.
The SMP will reduce overlaps and improve coordination and ensure continuity in the efficient delivery of the Single Market on the ground while providing better value for money for EU citizens and allowing a focus on priorities essential for economic recovery. Moreover, the Programme will support better enforcement of EU law and promote the competitiveness of small and medium-sized enterprises (SMEs).
The Single Market Programme will be of great interest to ICC and European cities in general. Cities are the engines of Europe’s economy and, more specifically, of the economic recovery after the COVID-19 pandemic. The financial package will directly benefit cities’ inhabitants and businesses, particularly SMEs. The Single Market Programme is a successor of the COSME programme, under which the ICC initiative is being carried out.
The SMP is designed to foster a favourable business environment and entrepreneurial culture to enable SMEs to thrive. Consumers will be more protected than before through improved product and food safety.
Margrethe Vestager, Executive Vice-President for A Europe Fit for the Digital Age, said: “A well-functioning Single Market has a significant and positive impact on jobs, growth and health; it offers more choice and lower prices for consumers. And it allows businesses to exchange products and services. The new Single Market Programme regulation will make the Single Market more effective and will contribute to a sustainable recovery and successful green and digital transitions.”
Commissioner for Internal Market, Thierry Breton, said: “The Single Market has proved, time and time again, to be our engine for growth, jobs and resilience. The agreement on the very first-ever EU programme to strengthen the Single Market in all its diversity is a good sign for the years to come. It will benefit on the ground citizens, consumers and companies alike, in particular SMEs that continue to be deeply affected by the COVID-19 pandemic.”
The Single Market Programme Regulation was adopted on 28 April, with the Regulation published in the EU Official Journal on 3 May and apply retroactively from 1 January 2021.
Find out more: Single Market Programme factsheet