Budapest hosted Europe’s flagship event for small and medium-sized enterprises (SMEs), the SME Assembly 2024, from 18 to 20 November 2024 this week. Organized by the European Commission in partnership with the Hungarian Presidency of the Council of the European Union, this prestigious event brought together leaders, policymakers, and stakeholders under the theme: “SMEs: Shaping Europe’s Future.”
Key sessions of interest to EBC and its construction SMEs
The SME Assembly 2024 featured a diverse range of sessions designed to address critical challenges and opportunities for SMEs across Europe. Here follows a sample of the discussions most relevant to advancing the construction sector’s agenda:
18 November: Exploring Innovation for SME Success
The assembly kicked off with the 2024 Schumpeter ‘Innovation in Enterprise’ Lecture, delivered by renowned Swedish professor of entrepreneurship Johan Wiklund. His keynote delved into innovative strategies and practices that empower SMEs to thrive in a competitive market. He emphasised the need for a bottom-up and local approach for flourishing entrepreneurship instead of copycatting Silicon Valley approaches pushing for rigid ecosystems in European entrepreneurial policies.
19 November: A Focus on Standards, Procurement, and Regulation
A series of sessions on the second day provided actionable insights into improving SME involvement in various critical domains:
- Setting the Standards – Innovative approaches for SME involvement: This session, featuring Small Business Standards (SBS) and SBS expert Johannes Springinsfeld, explored how SMEs can take an active role in shaping and implementing industry standards. For construction SMEs, engaging in standard-setting processes is crucial for ensuring their needs and capabilities are reflected in sector regulations.
- Public Procurement – Innovative and SME-friendly: With contributions from EISMEA, this session focused on developing strategies to improve SME access to public procurement opportunities and increase capacity of public buyers.
- Stress-testing for Better Regulation: Led by SMEunited and DG Grow, this session examined how regulatory frameworks can be optimized to bolster SME resilience, by tackling burdensome administrative requirements and making effective stress-testing of policies essential to ensure a balanced approach.
- SMEs in the Proximity Economy: Boosted by DG Grow and the European Committee of the Regions, this discussion highlighted the vital role of SMEs in local economies and the need to support proximity-based economic models that foster regional development.
20 November: Addressing Late Payments
On the last day, the assembly featured the session Turning the Tide on Late Payments, with DG Grow and SMVdanmark, among others. Late payments are a persistent issue affecting the liquidity and stability of SMEs, particularly in the construction sector, where delays in payment can significantly impact operations. This session explored solutions to tackle this critical challenge, notably the work of the European Payment Observatory, ensuring SMEs are paid on time and can maintain financial health.
EBC’s advocacy for construction SMEs
EBC Secretary General Fernando Sigchos Jiménez attended upon invitation of the Commission to bring the interests of SMEs in the construction sector into critical discussions shaping the future of the industry.
EBC looks forward to the next edition in Denmark in the autumn 2025, for another set of high-level panels, expert round tables, interactive workshops, and networking opportunities for SMEs and their representatives across the EU and beyond.
For more information on the SME Assembly 2024 in Budapest, click here
