Responsible approach to business ‘can boost growth’
A more responsible approach to business can be the catalyst for sustainable growth among UK business and firms across the continent, the European Commission (EC) has claimed.The Commission is proposing to simplify accounting rules for SMEs, which could potentially save them up to €1.7 billion (£1.4 billion) per year.
According to the EC, the proposals would also reduce burdensome reporting obligations for listed companies, including SMEs, adding further to cost savings.
Commission vice-president Antonio Tajani, who is responsible for enterprise and industry policy, said the package of measures is in the interests of both enterprises and of European society as whole.
"It reduces administrative burdens on small and medium-sized enterprises, and sets the conditions for a strong, dynamic social market economy in the medium and long term," he added.
Commissioner for Employment, Social Affairs and Inclusion Laszlo Andor added that socially responsible business stems from a realisation that the crisis is not just economic and financial but also about ethics.
"This is where social business and Corporate Social Responsibility can have a decisive impact and thus also contribute to Europe's 2020 goals of more jobs and growth."
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Posted by John Oak and Wayne Bly
