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The major trends of the 21st century, notably globalisation, digitisation, demographic change, recent developments within the EU, and the energy transition all represent major challenges for German business to tackle. If we are to successfully address these issues, we need to make our social market economy shipshape for the future. This is the over-arching task for the Federal Ministry for Economic Affairs and Climate Action.
Priority for SMEs and start-ups
The Federal Ministry for Economic Affairs and Climate Action wants our SMEs, the German Mittelstand, to remain vigorous, strong, and innovative. This is why we have developed a number of initiatives and programmes to support them. Our Central Innovation Programme for SMEs and our IGF and INNO-KOM programmes have been rendered more transparent and less bureaucratic. Our financing instruments for start-ups and young companies at the growth stage are also being extended and upgraded.
Generating investments, cutting red tape
Investments and innovation are key when it comes to improving competitiveness, creating lasting prosperity, and delivering a better quality of life. This is why the Federal Ministry for Economic Affairs and Climate Action is honing our business and investment environment to make it attractive for investors and innovators. Our goal is to reduce the administrative burden to the bare minimum and further improve young companies’ access to venture capital.
Promoting digitisation within industrial companies and SMEs
Inclusive prosperity and our competitiveness depend on our ability to uphold the strength of our industrial sector and safeguard the integrity of our value chains in Germany. We want to maintain and extend these value chains, which span from energy intensive raw materials industries through to finished high-tech products. Similarly, we also want to foster the clusters that have naturally formed between high-performing small, medium-sized and large companies and research institutions. The Federal Government will also undertake additional activities to support Industrie 4.0, artificial intelligence, and key-enabling technologies.
Designing the energy transition in a reasonable way
Our goal is to make the energy transition a driver for modernisation, innovation and digitisation – and to do this without compromising German industries’ competitiveness. We want our energy supply to remain affordable, secure and environmentally friendly and thus make the energy transition a success.
Continuing the development of the European Economic and Monetary Union
We want to develop an Economic and Monetary Union that is able to compete internationally and delivers on the European promise of democracy, the rule of law, security, stability, prosperity, and jobs. This includes stable public finances, a modern polity, an attractive investment environment and an open single market. The Ministry wants to help achieve this by using the legislative, administrative, and coordinating role it has in the fields of energy, industrial, innovation, competition, SME, and European policy.
Ultimately, it is a permanent goal for the Federal Ministry for Economic Affairs and Climate Action to ensure both Germany’s competitiveness and a high level of employment. The Ministry wants to help achieve this by using the legislative, administrative, and coordinating role it has in the fields of energy, industrial, innovation, competition, SME, and European policy.
The Ministry’s policy is guided by the principles of the social market economy, which have proven very successful, and particularly so in times in which the economic environment has not been so favourable. A forward-looking economic policy is about creating lasting prospects for greater employment, investments, and growth in Germany.
The Federal Ministry for Economic Affairs and Climate Action has six agencies:
Federal Office for Economic Affairs and Export Control / BAFA (Eschborn, Bochum)
Bundesnetzagentur (Federal Network Agency for Electricity, Gas, Telecommunications, Post and Railway) / BNetzA (Bonn)
Federal Institute for Materials Research and Testing / BAM (Berlin)
German National Metrology Institute / PTB (Braunschweig, Berlin)
Federal Institute for Geosciences and Natural Resources / BGR (Hannover, Berlin)
Modern state - modern administration
The Federal Government is guided by the vision of the "enabling state" and is meeting the growing challenges by implementing the "Modern State - Modern Administration" Programme. In this process of modernisation, the Federal Ministry for Economic Affairs and Climate Action focuses on "modern management methods", "red tape reduction" and "BundOnline 2005" (an e-administration initiative run by the Federal Ministries).
