Directorate-General for Financial Stability, Financial Services and Capi-
tal Markets Union
European Commission
MINISTER FOR INDUSTRY,
BUSINESS AND FINANCIAL
AFFAIRS
The Danish Government’s response to
the feasibility assessment for a
potential EU referral scheme
MINISTRY FOR INDUSTRY,
BUSINESS AND FINANCIAL
AFFAIRS
The Danish government welcomes the opportunity to respond to the tar-
geted public consultation of the European Commission on the establish-
ment of an EU referral scheme.
We believe there might be a potential benefit of a referral scheme for some
SMEs that lack the knowledge of alternative sources of financing.
We suggest considering whether it is sufficient for banks to refer the SME
to specified sources of information, e.g. business hubs and relevant web-
sites, in order to make the scheme as efficient as possible and limit admin-
istrative costs resulting from the scheme. Additionally, the referral process
should be digital and simple.
In Denmark, publicly funded regional business hubs offer free counselling
to SMEs on a variety of issues, including financing. Furthermore, The Dan-
ish Business Authority offers a single entry point through a website for
Danish businesses seeking information on regulatory issues, sources of fi-
nancing etc.
Thus, in a Danish context, a referall scheme would primarily be a supple-
ment to the current counselling on financing options.
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