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Glossary of summaries

Glossary of summaries

EU ENTERPRISE POLICY

EU enterprise policy aims to provide an environment that is conducive to business creation and development, and particularly that of small and medium-sized enterprises (SMEs), which account for the vast majority of companies in the EU and roughly two-thirds of jobs.

Businesses, whatever their size, are key to the EU’s competitiveness and prosperity. In Article 173 of the Treaty on the Functioning of the European Union, the EU has set itself the goal of creating the best possible conditions for competitiveness.

EU enterprise policy seeks to support businesses in a number of ways, including:

  • supporting sustainable growth, digitisation, competitiveness and resilience;
  • facilitating access to finance (e.g. venture and seed capital to encourage start-ups);
  • promoting an entrepreneurial culture (education, training and capacity-building);
  • making it easier to transfer business ownership;
  • destigmatising business failure and allowing honest entrepreneurs a second chance after bankruptcy;
  • reducing regulatory burden and facilitating market access within the EU’s internal market and internationally.

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