The Role of SMEs in the European Entrepreneurship Policy

László Borbás ()
Additional contact information
László Borbás: Óbuda University

from Óbuda University, Keleti Faculty of Business and Management

Abstract: According to EU’s ENTREPRENEURSHIP 2020 ACTION PLAN „Reigniting the entrepreneurial spirit in Europe” since 2008 Europe has been suffering the effects of the most severe economic crisis it has seen in 50 years. For the first time in Europe there are over 25 million unemployed and in the majority of Member States small and medium-sized enterprises (SMEs) have not yet been able to bounce back to their pre-crisis levels. Based on Small Business Act for Europe the EU had to rethink and partly revise its entrepreneurship and industrial policy. The new policy is based on three pillars : developing entrepreneurial education and training; creating the right business environment; role models and reaching out to specific groups. Entrepreneurship is considered to be a powerful driver of economic growth and job creation, while there is need for opening up new markets inside and outside of the EU. While new companies, especially SMEs, should represent the most important source of new employment, in the last decade the share of people preferring self-employment to being an employee has dropped significantly in the majority of the Member States. In our paper we try to give an analysis of the current challenges SMEs in the EU have to face from day to day while trying to follow the changes in the SME policy of the European Union.

Keywords: European Union; Entrepreneurship 2020; SMEs; Small Business Act for Europe; industrial policy; competitiveness (search for similar items in EconPapers)
Date: 2015
ISBN: 9786155460470
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://kgk.uni-obuda.hu/sites/default/files/05_Borbas_0.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://kgk.uni-obuda.hu/sites/default/files/05_Borbas_0.pdf [301 Moved Permanently]--> https://kgk.uni-obuda.hu/sites/default/files/05_Borbas_0.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pkk:meb015:71-88

Access Statistics for this chapter

More chapters in Volume of Management, Enterprise and Benchmarking in the 21st century II from Óbuda University, Keleti Faculty of Business and Management Contact information at EDIRC.
Bibliographic data for series maintained by Alexandra Vécsey ( this e-mail address is bad, please contact ).