The “Small Business Act” for Europe (SBA) introduces a comprehensive set of measures to establish the framework of all actions in support of SMEs

The main priorities are:

• Promoting entrepreneurship
• Reducing regulatory burdens
• Facilitating access to finance
• Enhancing access to markets and internationalisation

It anchors the “Think Small First” principle in law and policy making to strengthen SMEs’ competitiveness by tackling the obstacles that hamper SMEs’ potential to grow and create jobs

It applies to all companies which meet the SME criteria, including micro-enterprises
 

1. Create an environment in which entrepreneurs and family businesses can thrive and entrepreneurship is rewarded
2. Ensure that honest entrepreneurs who have faced bankruptcy quickly get a second chance
3. Design rules according to the “Think Small First” principle
4. Make public administrations responsive to SMEs’ needs
    

5. Adapt public policy tools to SME needs: facilitate SMEs’ participation in public procurement and improve use of State Aid possibilities for SMEs

6. Facilitate SMEs’ access to finance and develop a legal and business environment supportive of timely payments in commercial transactions

7. Help SMEs to benefit more from the opportunities offered by the Single Market
 

8. Promote the upgrading of skills in SMEs and all forms of innovation

9. Enable SMEs to turn environmental challenges into opportunities

10. Encourage and support SMEs to benefit from the growth of markets
 

Legislation that is guided by the “Think Small First” principle:

The “Think Small First” principle recognizes SMEs’ central role by inviting legislators to fully consider SMEs’ specific needs before introducing new laws and legislation.

By putting SMEs to centre stage, the "Think Small First" principle allows national governments to enact effective legislation and tailored rules in support of SMEs.