The European Commission adopted the Small Business Act for Europe in 2008.
The act is a policy framework intended to improve the environment for small and medium-sized enterprises across the European Union. Its central idea is summarized by the principle “Think Small First,” meaning that policymakers should consider the effects of new rules on smaller firms.
The framework addresses issues such as access to finance, entrepreneurship, public procurement, regulation, innovation, and internationalization. It is not a single law that creates one European definition of a small company or one uniform grant scheme.
The Small Business Act for Europe is also distinct from the U.S. Small Business Act. The European document is an EU policy framework, while the U.S. act established the legal basis for the American Small Business Administration.