European Commission report on procedures for creating start-ups in Europe

posted in: EU news

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On 18 February 2015, the Commission published a report on progress made by the Member States with a view to simplifying measures when starting a private limited company.

The report is available here.

The Commission welcomes the fact that, according to its figures, launching a start-up in Europe takes an average of less than three days and costs just 313 euros. As a comparison, in 2007 it took 12 days for a total average cost of 485 euros.

The Commission observes considerable differences between the Member States. For the Czech Republic and Sweden, it attributes the reduction in average times to start up a company to the simplifications implemented. For Greece and Bulgaria, it underlines the efforts made to reduce the average costs.

According to the report, only Denmark, Greece, Latvia, Romania, Slovenia and the United Kingdom respect both the European recommendations on reducing time and cost and the recommendation to implement one-stop-shops.

The report echoes the Single Act for Small Businesses of 2010, in which the Commission invited the Member States to reduce the time to start up a private limited company to only three days and the cost to 100 euros. The objective has therefore only been partially achieved.