The Capital Markets Union (CMU) Action Plan of September 2015 set out a comprehensive programme of actions to overcome information barriers that prevent SMEs and prospective investors from identifying new opportunities to secure funding or to make investments. The CMU Action Plan is based on three main pillars:
- Strengthening the feedback given by banks when turning down credit applications from SMEs, in order to allow rejected SMEs to adjust their business model to have better access to external funding;
- Mapping local or national support and advisory structures across the EU to promote best practices in assisting SMEs; and
- Investigating how to develop or support pan-European information systems that link up national systems to bring finance-seeking SMEs together with finance providers
Is this the right mix of strategies? How and when will it be implemented? What progress has been achieved to date and what are the next steps? Are there alternative strategies worth pursuing?