EFRAG to Assess Interest in potential New EU Voluntary Reporting Template for SMEs and Start-Ups

EFRAG is set to explore the development of a voluntary, KPI-based reporting template for SMEs (Small and Medium size Enterprises), that could be made accessible via the European Single Access Point (ESAP). The request, outlined by the European Commission in a letter to EFRAG on 29 July 2025, aims to meet a twofold objective:

• enhancing the accessibility and comparability of financial information for SMEs and start-ups within the European Union;
• attracting investors and facilitate better access to finance for these businesses, especially innovative and fast-growing ones.

At present, EFRAG is actively working with its Administrative Board, Financial Reporting Board (EFRAG FRB) and Technical Expert Group (EFRAG FR TEG) to allocate the necessary resources to this initiative. On 10 September 2025, EFRAG FRB and FR TEG held a joint meeting to discuss the assignment, and the FRB agreed to undertake the project.

Next Steps

EFRAG will assess stakeholders’ interest in this initiative, considering the potential costs and benefits for both SMEs and investors. Specifically, EFRAG will evaluate:

• the views of both potential preparers (e.g. SMEs) and users (e.g. investors, banks, etc.) regarding such disclosure;
• the possible content and structure of the proposed template.

By June 2026, EFRAG will submit its assessment, in the form of a report, to the European Commission.