Sme Definition in Europe

ENTERPRISE AND INDUSTRY PUBLICATIONS The new SME commentary User guide and modelling announcement European fit This guide contains: Details and explanations of the new SME definition which took marrow on 1/1/2005. A model declaration that individual companies may complete themselves when applying to SME support schemes in put in to establish their SME status. DISCLAIMER: This SME User Guide serves as a general orientation for entrepreneurs when applying the new SME definition. It does not have whatsoever legal value and does not bind the Commission in any way. Commission Recommendation 2003/361/EC as print in the Official Journal of the European Union L 124, p. 36 of 20 May 2003 is the sole authentic founding for determining the conditions regarding qualification as an SME. © Cover: istockphoto Micro, small and medium-sized enterprises (SMEs) ar the engine of the European economy. They are an essential source of jobs, pass water entrepreneurial spirit and innovation in the EU and are thus crucial for fostering competitiveness and employment. The new SME definition, which entered into cast on 1 January 2005, represents a major step towards an better business environment for SMEs and aims at promoting entrepreneurship, investments and growth.

This definition has been elaborated aft(prenominal) broad consultations with the stakeholders involved which proves that listening to SMEs is a key towards the self-made implementation of the Lisbon goals. Günter Verheugen, Member of the European Commission Responsible for Enterprise and Industry © Photos.com Introduction 5 6 6 Table of contents Importance of a European SME definition Objectives of this guide 1. Why a new definition? To To To To To update thresholds promote micro enterprises improve access to working capital promote innovation and improve access to R&D take account of different relationships between enterprises 8 8 9 9 10 10 2. Applying the new SME definition 2.1 Am I an... If you involve to get a full essay, order it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.