The Methods of Regulatory Influence on Small and Medium-Sized Businesses in European Countries

Abstract

The article shows the importance of regulatory policy in the context of support and development of small and medium-sized enterprises (SMEs) in Europe. The authors have demonstrated how different regulatory instruments affect SMEs in an international context, especially in the face of rapid global and technological change. It is emphasized that SMEs are key players in European economies that create a significant number of jobs and foster innovation. As regulatory policy has a direct impact on the stability and predictability of the business environment, its role in shaping the conditions for SMEs is crucial. The article emphasizes the importance of harmonization of norms in the European Union and its impact on the cross-border activities of SMEs. The specific features of the application of various instruments for regulatory impact assessment, including RIA (Regulatory Impact Assessment), the iREG (International Regulatory Evaluation Group) survey and the Regulatory Quality Index, are analyzed. It is shown that a significant advantage of the Regulatory Quality Index over other methods is the consideration of a wide range of aspects of regulatory policy and the ability to generate a numerical expression of the quality of regulatory policy, which makes it possible to compare countries and regions. Each of these instruments is considered in terms of its potential, advantages and limitations in the context of analyzing the impact of regulatory policy on SMEs. The need for a combination of different assessment methods to obtain a complete and balanced view of the quality of regulatory policy is emphasized, which represents a multifaceted approach to understanding and improving the regulatory environment that contributes to the development and competitiveness of SMEs in Europe. It is shown that the regulatory policy of the European Union and Ukraine in relation to small and medium-sized businesses has a number of differences, which can be explained by different institutional frameworks, level of economic development and historical factors.

Keywords

• regulatory policy
• small and medium-sized enterprises (smes)
• european union
• ireg
• regulatory quality index
• regulatory impact assessment