EFRAG publishes Assessment Report on voluntary information template for SMEs and Startups on the European Single Access Point
EFRAG publishes its Assessment Report on the voluntary information template for SMEs and startups at the European Single Access Point (ESAP)*, concluding that stakeholder interest is insufficient for the template to be a meaningful and impactful tool. The assessment is based on outreach activities conducted with more than 100 stakeholders and on feedback received in response to EFRAG’s draft Assessment Report, which was issued for public consultation on 2 April 2026.
Highlights from the findings
The main group of financing providers and financing facilitators expressing interest in using the voluntary template comprised smaller investors (including smaller venture capital firms) and IPO advisors screening across borders for potential startups and scale-ups in which to invest or advise.
Banks, insurance companies, pension funds, business angels, incubators, accelerators, university technology transfer offices, larger (later-stage) venture capital firms, larger private equity funds, and larger IPO and M&A advisers were generally (with some exceptions) not interested in using information that would be available through the template.
SMEs and startups in need of financing were interested in using the voluntary template when it would improve their chances of obtaining finance and when the benefits outweighed the associated costs and effort. However, given that only a limited number of financing providers were interested in the template, most SMEs have little to gain from using it.
* This initiative is not related to the VSME Digital Template that EFRAG has developed for sustainability reporting.