European Trade Policy to Support Small and Medium Enterprises in the Current Context

Abstract

The European Union's trade policy towards small and medium-sized enterprises (SMEs) is of utmost importance in the current context, given the two main challenges faced by the EU: limited access to external markets and reduced economic flexibility. The market access problem, in particular, manifests itself in the form of export difficulties, where EU companies face insufficient liberalisation of trade conditions, which limits their ability to sell goods and services on international markets. These obstacles ultimately constrain the EU's potential to increase production, specialisation and investment in research and development.

Daily challenges related to regulatory compliance, access to information, markets and finance are crucial for the sustainable development of European SMEs. The wide diversity of SMEs in terms of business models, size, age and entrepreneurial profiles, as well as their ability to attract highly skilled workers, reflects their key role in the European economy. SMEs range from micro-enterprises in the self-employment and service sectors to medium-sized industrial companies, from traditional crafts to innovative high-tech start-ups. The EU's Common Trade Policy is a unique mechanism for integrating different actors in the single market. The main objective of the EU trade policy is to remove barriers that hinder the development of SMEs.

The purpose of the article is to provide a comprehensive analysis of the EU trade policy and assess its impact on the development of small and medium-sized enterprises.

The following methods were used in the study: scientific analysis, observation, comparison, abstraction and specification.

The results of the study show that the EU trade policy has a significant impact on the activities and development of SMEs, which requires constant monitoring and support from national governments. The proposed measures are aimed at both short-term support and enhancing the long-term competitiveness and sustainability of SMEs.

The authors emphasise that there is an urgent need to further liberalise trade, remove barriers and provide comprehensive support to small and medium-sized businesses through the implementation of a common state regulatory policy in the field of trade, since SMEs are the foundation of the EU economy.