EU makes new plan for SMEs

Hurdles and beuracracy to be reduced

"Less red tape, more red carpet". This is the way Mr. Barrosso and the European Commission wish to facilitate the 23 million small and medium sized businesses in EU. The Small Business Act is regarded as a cruisial milestone and is a part of the Growth and Jobs Strategy. The commission also proposes a new form of European company, to help small firms move beyond national borders.

This new "European private company" rules would create a common start-up procedure throughout the EU and make it easier for companies to set up subsidiaries in other EU countries. Although small firms account for more than 99% of companies in the EU (and 70% of jobs), they remain mostly within national borders, unlike large companies

Find more info at the European SME portal

Small Business Act for Europe

Updated: 01. July 2008