The Small Business Act is an overarching framework seeking to improve the approach to entrepreneurship in Europe by simplifying the regulatory and policy environment for small and medium-sized enterprises (SMEs). The communication ‘Think Small First – A Small Business Act for Europe’ from the Commission to the Council lists ten guiding principles to promote growth in the small business sector. Principle one focuses especially on women and young people: the European Union (EU) and Member States should “care for future entrepreneurs better (…) particularly among young people and women, and by simplifying the conditions for business transfers.”
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