Setting up a business is just the beginning. Running a successful company requires the right skills, knowledge and access to information. Only then can small and medium-sized enterprises (SMEs) grow. The European Commission provides advice and information to entrepreneurs who are seeking to start their own business, successfully transfer a company or start again after they went bankrupt.
Starting and running a new company is not easy. Heavy administrative procedures often discourage potential entrepreneurs from setting up their own businesses. The European Commission's objective is to reduce the administrative burden and encourage more people to become entrepreneurs, create new jobs, and improve Europe's economic performance. Learn more about start-up procedures.
Buying an existing company is an alternative way of starting a business. It is often more advantageous than starting from scratch. Every year, around 450,000 firms and over two million employees are transferred to new owners. However, up to one-third of these transfers may not be successful. The European Commission believes that it is just as important to support transfers as start-ups because they are equally important to the EU economy. Learn more about transfer of businesses.
Even though bankruptcy is not uncommon, the stigma and practical difficulties faced by formerly bankrupt entrepreneurs often deters them from starting new ventures. Moreover, many Europeans fear the consequences of failure enough to deter them from setting up their own business in the first place. The Commission develops tools to help entrepreneurs assess their performance and identify problems to be solved. Learn more bankruptcy and second chance.