EUROPA - EU law and publications - EUR-Lex - EUR-Lex - 240601_2 - EN // Disclosure of non-financial and diversity information by large companies and groups

In 2012, of the 22.3 million enterprises in the EU’s non-financial business economy, an overwhelming majority (92.7%) were micro-enterprises (with 0 to 9 persons employed) accounting for 29.2% of employment, 7.1% were small and medium enterprises (with 10 to 249 persons employed) accounting for 38.0% of employment, and 0.2% were large enterprises (with 250 or more persons employed) accounting for 33.0% of persons employed.

SMEs should be exempted from additional requirements, and the obligation to disclose a non-financial statement should apply only to those large undertakings which are public-interest entities and to those public-interest entities which are parent undertakings of a large group, in each case having an average number of employees in excess of 500, in the case of a group on a consolidated basis.

Although most participants in the wholesale financial market are large companies, the proposal could enhance the opportunities for small and medium sized financial entities because counterparties may be prepared to deal with entities with no, or a low, credit rating if they make a collateral arrangement in which they have confidence.

In spite of this methodological caveat, the first Observatory's report underlines a number of useful elements, namely as regards: - an indication to the existence of different problems, attitudes and behaviour within the SME sector, justifying the adoption of differentiated policy approaches aiming at micro, small and medium enterprises; - a differentiated contribution of SMEs to employment as only micro firms have been able to secure some net job creation in 1991-1992, these years being characterised by an important reduction in the number of both medium-sized and large enterprises as well as in their employment levels; - the importan ...[+++]ce to provide appropriate information and counselling, as well as adequate formation to newly created enterprises; - the Community's role in assisting cooperation and transnational business relationships, to stimulate the potential for cooperation, and to encourage those enterprises who are still apprehensive of cooperation; - the differences in financial problems, depending on the type of enterprise considered (size and sector) and the requirement to be met (creation, expansion, liquidity position or transfer); - the importance of the Community's efforts to provide assistance to enterprises and to promote economic development through transborder and transnational cooperation, namely by means of the INTERREG initiative and the intervention of Structural Funds; - the need of further improving the absorption of Community's funds by SMEs, alleviating financial burdens and helping develop financial institutions geared to the needs of SMEs, and assisting the development of managerial resources in less favoured regions.

In the course of the procedure it became clear that the Meppen site was a legally and financially dependent branch of a big company acting in several Member States of the EU and that therefore the financial situation of the whole company had to be examined and not only that one of the Meppen site.