Micro, small and medium-sized enterprises are the backbone of the European economy. In 2003, the European Union introduced a common definition of which enterprises classify as SMEs in order to specifically target access to finance and EU support programmes at these enterprises.
SMEs need specific support to fully achieve their economic potential. However, especial support for micro enterprises is still lacking and administrative burdens as well as access to finance, innovation or public markets remain serious barriers that SMEs and crafts face. Accordingly, EBC contributes to the further development of an SME friendly business environment in the EU via an intensive cooperation with key European SME representatives such as SMEunited and Small Business Standards.
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