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A unique Latvian initiative which aims to help micro-enterprises was announced as the main winner of the 7th European Enterprise Promotion Awards.

European Commission Vice-President Antonio Tajani, Commissioner for Industry and Entrepreneurship commented: "The latest information available shows that SMEs continue to form the backbone of the European economy, with around 21 million firms employing almost 87 million people and accounting for more than 99.8% of all enterprises. Promoting entrepreneurship and improving the business environment is therefore critical for Europe’s continued growth and success. This is why we recognise the great work that the winners of the European Enterprise Promotion Awards do for micro, small and medium enterprises.”

The Think Small First project promoted the creation of a special tax rate and simplified tax accounting system for microenterprises, making it cheaper and simpler for small companies to operate in Latvia. "Best in category" prizes were also won by projects from Finland, Ireland, Belgium, Portugal, Turkey and Slovakia. The Awards ceremony took place in Vilnius, Lithuania as part of the SME Assembly, the focus of European SME Week.

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