The development of a European Private Company Statute (EPCS) should not be delayed, according to two small business associations.

Eurochambres and Businesseurope, which together represent millions of small and medium-sized enterprises (SMEs) across Europe, have organised a symposium to urge action on EPCS.

The organisations believe that EPCS could help SMEs consolidate the European internal market, while simplifying the legal framework for firms and enabling cross-border markets.

Pierre Simon, president of Europchambres, remarked: "By lifting the barriers to cross-border trade, a European statute would bring more legal certainty and allow easier calculation of risks with respect to liability for the enterprise and the entrepreneurs.

"It is up to the [European] Commission to put a proposal on the table by the end of 2007."

Eurochambres is the Association of European Chambers of Commerce and Industry, which represents a network of 2,000 regional and local chambers with more than 19 million member companies.