| Author (Corporate) | European Commission: DG Communication |
|---|---|
| Series Title | Press Release |
| Series Details | IP/07/1452 (8.10.07) |
| Publication Date | 08/10/2007 |
| Content Type | News |
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The average cost for setting up a new company in the EU 15 has fallen to €554 in 2007 compared to €813 in 2002 and coping with the administrative procedures to register a company was reduced from 24 days in 2002 to about 12 days today. As they are also the biggest providers of new jobs in the EU, small and medium sized enterprises (SMEs) have become truly central to policy-making in the EU. This is the main conclusion of the European Commission’s mid-term review on SME policy, published on 8 October 2007. It takes stock of the progress achieved since 2005 in five main areas of the Commission's SME policy: cutting red tape, improving access to markets, promoting entrepreneurship and skills, improving growth potential and strengthening dialogue with stakeholders. The SME dimension is more and more integrated in EU initiatives and legislation. The Commission has also adopted a communication on the stigma of business failures, proposing action to prevent bankruptcy and to promote a fresh start for non-fraudulent bankrupts. Furthermore an action plan has been launched to help small companies to integrate environmental concerns into their production processes and products, in particular through a better compliance with legislation (see IP/07/1457). |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/07/1452&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
