Nurturing an economy for all: The role of SMEs and open data
Recognising that the prosperity of individuals and businesses hinges
on an economy tailored to their needs, the European Commission has
emphasised the necessity of cultivating an economy that adapts to the
people. This prioritisation, deeply embedded within the EU's
distinctive social market economy framework
[https://commission.europa.eu/strategy-and-policy/priorities-2019-2024/economy-works-people_en],
not only seeks to promote economic growth but also strives to mitigate
inequality across Member States.

A central focus within the broader agenda of crafting an economy that
benefits all is the bolstering of small and medium-sized enterprises
(SMEs)
[https://single-market-economy.ec.europa.eu/smes/sme-strategy/improving-smes-access-marktets_en].
The European Commission aims to fortify SMEs, recognised as the
backbone of the EU economy, through initiatives that
promote standardisation processes
[https://single-market-economy.ec.europa.eu/smes/sme-strategy/improving-smes-access-marktets/standardisation-and-smes_en],
consequently reducing costs, enhancing innovative capacity, and
augmenting competitiveness. Additionally, efforts are directed towards
facilitating SMEs' access to crucial market information, essential for
informed decision-making and strategic planning.

An indispensable tool in realising these objectives is the strategic
utilisation of open data. By fostering greater accessibility and
transparency of data, businesses, particularly SMEs, can glean
valuable insights into labour market dynamics, emerging business
trends, and shifting consumer behaviour. Notably, platforms such as
the SME support webpage
[https://single-market-economy.ec.europa.eu/smes_en]
and data.europa.eu [https://data.europa.eu/en] provide SMEs with
useful information, facilitating evidence-based decision-making and
enabling targeted interventions to enhance competitiveness. 

With our portal offering access to nearly 90,000 datasets in the
economy and finance category alone, organisations can harness valuable
open data to drive innovation, foster entrepreneurship, and ultimately
contributing to fuel economic growth of EU.

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Publication Date/Time
2024-05-20T08:00:00+00:00
How the European Commission prioritises prosperity and equity through
SME support and open data initiatives