Analysing the development of entrepreneurship in the EU in terms of the Action Plan : a particular emphasis on the local scenario

Abstract

At Lisbon the goal was set for the European Union to become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth, more and better jobs and greater social cohesion. SMEs are considered as the backbone of the European economy. They contribute for innovation, employment as well as social and local integration in Europe. However, according to a 2002 Eurobarometer survey, Americans were involved in three times more new entrepreneurial ventures than Europeans and evidence show how European firms grow at a slower pace. In the 1990s, only one in twenty SMEs could be qualified as a "gazelle" as against one in five in the US. Europe's slow pace in entrepreneurship development together with the target of meeting the Lisbon goal led to the need for promoting successful entrepreneurship and to improve the business environment for SMEs. In the year 2000 the Commission launched a debate on entrepreneurship policy. This led to the publication of the Green Paper on Entrepreneurship which was then followed by the Action Plan based on the extensive feedback received. The Action Plan for Entrepreneurship sets out Europe's agenda for entrepreneurship around 10 Key Actions. Throughout my dissertation I analysed the developments made with respect to the Entrepreneurship Action Plan at EU level together with a major emphasis on the local scenario. My results demonstrated how in Malta progress have been made in certain Key Actions such as 'Access to Finance', 'Listening to SMEs', and 'Facilitating the Transfers of Businesses', whilst a lot of work is still required in other Key Actions especially in 'Improving social security' toward the entrepreneurs.