If substantial achievements have been attained in the development of the internal market for goods, there are other areas where companies still face serious problems. One of these is the entry barrier for companies, particularly SMEs with limited financial and personnel resources, which wish to set up Europe-wide company structures. The adoption of the Societas Europaeas (SE) allowing the creation of European-wide type of company was already a step in the right direction for this issue but it is essentially suited to the needs of large businesses.


 
European Private Company
 
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Among the measures we promote for improving the business environment for engineering companies we support the creation of the European Private Company (EPC). In the essential requirements for the model of company statutes we proposed that an EPC must be as simple as possible to set up, with minimal bureaucracy and incorporation costs and a minimum level of capital which is not set too high.

A position paper was submitted calling for the simplifying of the legal environment for companies through the promotion of European Private Company development which we believe could be better adapted to the needs of SMEs. The Commission is still awaiting the outcome of its proposed statute for the “European Co-operative Society”, and has indicated that it will study further our proposals.

 

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