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The Role of SMEs in the European Entrepreneurship Policy

Author

Listed:
  • László Borbás

    (Óbuda University)

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.

Suggested Citation

  • László Borbás, 2015. "The Role of SMEs in the European Entrepreneurship Policy," Proceedings- 11th International Conference on Mangement, Enterprise and Benchmarking (MEB 2015),, Óbuda University, Keleti Faculty of Business and Management.
    • Handle: RePEc:pkk:meb015:71-88
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    File URL: http://kgk.uni-obuda.hu/sites/default/files/05_Borbas_0.pdf
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    References listed on IDEAS

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    1. Dr. Imre Zoltán Nagy, 2011. "The Fight against income evasion in Hungary - Acta Politechnica Hungarica," Working Paper Series 1102, Óbuda University, Keleti Faculty of Business and Management.
    2. Dr. Nagy Imre Zoltán, 2011. "A jövedelemeltitkolás okai, következményei és visszaszorítási lehetõségei különös tekintettel Magyarországra," Tanulmánykötet - Vállalkozásfejlesztés a XXI. században,, Óbuda University, Keleti Faculty of Business and Management.
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    Cited by:

    1. Judit Oláh & Zuzana Virglerova & József Popp & Jana Kliestikova & Sándor Kovács, 2019. "The Assessment of Non-Financial Risk Sources of SMES in the V4 Countries and Serbia," Sustainability, MDPI, vol. 11(17), pages 1-19, September.

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