Editor's note
International Internet Magazine. Baltic States news & analytics
Tuesday, 09.06.2026, 05:53
The Baltic States can choose best businesses and be rewarded
Print version
Promoting business in EU has become a new Commission’s initiatives; in March 2012 the Commission launched a new “promotion competition for SMEs” called European Enterprise Promotion Awards. Its aim is to rewards the successful examples of private, public bodies and public-private partnerships in promoting enterprise and entrepreneurship. One of the subjects for the 2012 competition will be SMEs funding for those entrepreneurs that want to extend their business and enter new markets.
The role of SMEs
In the current economic situation, the SMEs in Europe are acknowledged to be main contributors to the EU-2020 strategy for growth and jobs. The SMEs acquire enormous creative potentials as about 85 per cent of all new jobs in the EU are provided by small and medium enterprises, SMEs.
Besides, public authorities in the EU support SMEs with a large number of initiatives. Those SMEs that are most impactful and creative will be chosen by an expert jury and receive their awards (during the 2012 SME Assembly in November in Cyprus).
Main objectives
The objectives of the European Commission’s annual European Enterprise Promotion Awards are the following:
- To identify and recognise outstanding initiatives that promote enterprise and entrepreneurship;
- Showcase and share examples of best entrepreneurship policies and practices;
- To create a greater awareness of the role entrepreneurs play in society, and
- To encourage and inspire potential entrepreneurs.
The competition consists of two stages: applicants first have to compete at national level; this is a good opportunity for the Baltic States’ authorities and stakeholders to choose the best candidates. Then, each country can select two entries to be nominated to the European competition by July 16, 2012.
The options for nomination are numerous; there are five different award categories:
- Promoting the entrepreneurial spirit;
- Investing in skills;
- Improving the business environment;
- Supporting the internationalisation of businesses, and
- Responsible and inclusive entrepreneurship.
The European Commission is of the opinion that every year the European Enterprise Awards bring to the fore successful initiatives from all European states that have created win-win situations for business and communities. Commission’s Vice-President Antonio Tajani, responsible for industry and entrepreneurship said that the EU needs to multiply the SMEs concrete success stories to make Europe more business-oriented and business-friendly. This strategy is essential for job creation and recovery of European economy.
Vice-President Antonio Tajani, responsible for industry and entrepreneurship speech, see:
Reference: Press Release, IP/12/226, 8 March 2012.
Vital information websites:
- on the European Enterprise Awards
- on the Study on the SMEs' impact on the EU labour market, and
