Mihalache, Ştefania
September 2010
Annals of the University of Craiova, Economic Sciences Series;2010, Vol. 3, p1
Academic Journal
In the context of the economic crisis, the European Union has found a solution in order to support Small and Medium Sized Enterprises, representing the backbone of the European economy. Small Business Act represents a policy initiative which aims to promote a SMEs-friendly environment. Having in mind that most jobs in the EU are provided by SMEs, companies of 250 employees or less and that they have a crucial importance for the future development, but very often face enormous bureaucratic hurdles and obstacles, we may state that the European SMEs deserve to be better assisted to fully unlock their potential of long term sustainable growth and of more job creation. To achieve this goal, the European Commission has conceived the Small Business Act for Europe (SBA), a policy initiative based on ten guiding principles and proposes policy actions to be undertaken by both the Commission and Member States.


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