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Published byCamilla Holland Modified over 9 years ago
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Chapter Seven Entrepreneurship and SMEs in the European Union (EU)
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What are SMEs Firms employing less than 250 employees Account for 95 % of all businesses 60-70 % of employment Traditional domestic focus But group of SMEs increasingly international
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Importance Contribution to employment Role in restructuring and streamlining of large businesses Innovation Capability to export Flexibility Contribution to competitiveness Role as seedbeds Role in provision of services
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Impact in three areas Knowledge Effect on competition Effect on variety
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Entrepreneurship
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Rise in knowledge economy Support innovation Drive change within modern economy
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Entrepreneurship Involves: -Exploitation of creativity and/or innovation -Entrepreneurs -Applications of entrepreneurship
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Entrepreneurship EU poor record of SME creation In US higher. Why? -Lack of role models -Cost -Culture -Business environment
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SME Internationalisation
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Link between size and degree of internationalisation breaking down Emergence of Born Globals There is a process of rapid internationalisation
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Why rapid SME Internationalisation? Form and nature of management Knowledge driven strategies Global mind set of managers Learning through networks
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EU Enterprise Policy Key objectives - safeguard and improve the environment for business during the completion of the internal market and beyond; - develop policies that enable SMEs to exploit the opportunities created by the internal market; - ensure consistency between enterprise policy and other EU policies.
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Key Generic Actions education and training for entrepreneurship; cheaper and faster start up; better legislation and regulation; availability of skills; improving on-line access;
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Key Generic Actions getting more out of the single market; taxation and financial matters; enhancing the technological capacity of small business; successful e-business models and top class small business support; more effective representation at the EU and national level
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Entrepreneurship actions Fuelling the entrepreneurial mindset Encouraging more people to become entrepreneurs Gearing entrepreneurs for growth and competitiveness: Improving the flow of finance Creating a SME friendly regulatory and administrative framework
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