Core Insights - European firms are focusing on reducing dependence on global resources and achieving sovereignty over their technology stack and digital platforms [1] - Despite these efforts, no European enterprise is expected to completely shift away from US hyperscalers by 2026 [1] - Geopolitical tensions, ongoing volatility, and new legislative acts are influencing these dynamics [1]

Core Viewpoint - The Association of Chartered Certified Accountants (ACCA) supports the simplification of regulatory procedures for small and medium-sized enterprises (SMEs) in the EU, responding to the European Commission's consultation on the proposed 28th Regime – The European Innovation Act [1][2]. Group 1: Regulatory Simplification - ACCA endorses the European Commission's efforts to streamline regulations, emphasizing the need to reduce the regulatory burden on businesses to promote growth and enhance cross-border commerce [2][5]. - The association identifies the nurturing of the SME sector as a critical priority for the EU, advocating for a partnership approach to support businesses in workforce skills development [2][3]. Group 2: Skills Gap and Workforce Development - ACCA highlights the skills gap as a significant challenge for European businesses, recommending that the European Commission ease administrative burdens related to training and the recognition of professional qualifications across member states [3][6]. - The organization suggests that promoting cross-border recognition of qualifications through guidance and best practices can help address the skills shortage [6]. Group 3: Confidence and Coordination - ACCA emphasizes that the framework of the 28th Regime must instill confidence and meet the needs of businesses, fostering consistency and coordination between member states [4][5]. - The association calls for the 28th Regime to complement existing initiatives like the EU Startup and Scaleup Strategy [5].