The Future of the Single Market 115 particularly SMEs. This excessive regulation imposes significant additional costs on businesses, proving unsustainable for SMEs and inadvertently favouring non-European businesses that are not subject to the same strict rules. This trend towards a risk-averse regulatory approach has led to an excess of overlapping regulations, creating legal uncertainty and imposing substantial compliance costs. Effective policies must remove barriers to the free movement of goods, services, workers and capital, while ensuring that the rights that facilitate these freedoms are protected. These challenges are addressed systematically through proposals organised into six distinct parts. This structure reflects the chronological stages of drafting, adoption, implementation and enforcement of rules, complemented by initiatives aimed at simplifying existing regulations. The report therefore argues that EU institutions should give clear priority to the use of regulations when formulating binding rules for the Single Market. 7. The Single Market beyond itsborders Faced with an increasingly complex and unpredictable geopolitical scenario, the European Union is forced to broaden its focus beyond internal concerns, placing greater emphasis on the external dimension of the Single Market. It is therefore imperative to strike a harmonious balance between integration into the global market and ensuring security, with the aim of increasing our competitiveness and resilience. The approach should aim to balance competitiveness, strategic independence and fair global conditions, while avoiding the imposition of harmful regulations and instead promoting strategic partnerships based on well-founded policies. Effectively addressing economic security, improving our trade policy, managing enlargement and governing our relations with key strategic partners is fundamental to the future of the Single Market.
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