(3)The COVID-19 crisis makes Union companies, in particular small and medium-sized enterprises (SMEs) and start-ups, more fragile and vulnerable. Where appropriate in order to facilitate and diversify funding sources for Union companies, with a particular focus on SMEs, including start-ups and middle-capitalisation companies, the removal of unjustified barriers and excessive administrative burden can help to promote the ability of Union companies to access equity markets, in addition to promoting more diverse, longer-term and more competitive investment opportunities for retail and large investors. In that regard, this Regulation should also aim to make it easier for potential investors to learn about investment opportunities in companies, since potential investors often have difficulty evaluating start-up companies and small firms with a short business record, a situation which leads to fewer innovative openings, especially for persons starting a business.