Market Overview

SmartDebit Responds to the Recent Statistics from the Annual Report on European Small and Medium sized Enterprises


SmartDebit, the UK's leading Direct Debit Bureau, have responded the annual report on small and medium sized businesses across the European continent.

(PRWEB UK) 27 October 2012

The annual report on small and medium sized businesses in Europe has been released with worrying statistics. The report showed that small to medium businesses account for 98% of all enterprises, with 92.2% of that figure classed as micro-firms, employing fewer than ten employees. In total around 20.7 million firms employ over 87 million people throughout Europe.

The annual report on European small and medium sized enterprises underlines the urgent need for policy changes to stimulate economic recovery. Insiders believe that if small to medium businesses increase revenue it will begin the slow and steady process of economic recovery. European Commission Vice President Antonio Tajani, Commissioner for industry and Entrepreneurship said, ‘Small to medium businesses have the potential to restore growth in Europe. They are at the heart of our efforts. (We) have the most ambitious action plan to boost entrepreneurship Europe has ever seen. We will try and restore confidence so that small to medium businesses can make progress once again and drag us out of this current crisis.' The report indentifies that the sectors with most potential for growth are technology and knowledge intensive services.

Late payments and a lack of cash are said to be the prominent reasons why small to medium businesses are struggling. Introducing electronic payment methods, such as Direct Debit can help alleviate this problem.

Launched in 1998, SmartDebit is the UK's leading Direct Debit service ranked as ‘Excellent' in all 5 of their latest Bacs audit. A spokesperson from Smart Debit commented, ‘We understand the importance of small to medium businesses and how they affect the economy as a whole. Ultimately, these companies need more incoming revenue. Direct Debit for business can prevent late payments and provide a reliable source of income for businesses.'

About SmartDebit

SmartDebit is the UK's leading Direct Debit service providers, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent' in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.

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