UK SMEs urged to exploit European markets
Commercial insurance
13th October 2009
Small and medium-sized enterprises (SMEs) in Britain should ensure that they make the most of new opportunities being offered within Europe.
Appealing to companies operating in the services sector in particular, business minister Ian Lucas called on them to take advantage of the new European Union (EU) Services Directive.
The legislation, which comes into effect at the end of 2009, will enable insurance for business customers to operate more easily in the EU by reducing levels of red tape and barriers to trade outside their home country.
According to the Department for Business, Innovation and Skills, the move will benefit a range of sectors, including construction, leisure, consultancy and legal services.
"The market for services in Europe is opening up," Mr Lucas explained. "It's important that UK firms, including SMEs, are ready to grasp the opportunities this presents for new jobs and growth."
Earlier this month, Alibaba.com chief executive David Wei wrote in the Telegraph that small businesses are increasingly signing up to the website in order to trade with suppliers and buyers overseas and weather the current recession.
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