‘Think Small First’ project wins major enterprise award

A Latvian initiative which aims to help micro-enterprises has been announced as the main winner of the seventh European Enterprise Promotion Awards.

The awards ceremony took place in Vilnius, Lithuania, as part of the SME Assembly, the focus of European SME Week. European Commission Vice-President with responsibility for Industry and Entrepreneurship, Antonio Tajani, commented: “The latest information available shows that SMEs continue to form the backbone of the European economy, with around 21 million firms employing almost 87 million people and accounting for more than 99.8% of all enterprises.

“Promoting entrepreneurship and improving the business environment is therefore critical for Europe’s continued growth and success. This is why we recognise the great work that the winners of the European Enterprise Promotion Awards do for micro, small and medium enterprises,” he added.

The Grand Jury Prize was awarded to the ‘Think Small First’ project which promoted the creation of a special tax rate and simplified tax accounting system for microenterprises, making it cheaper and easier for small companies to operate in Latvia. The project was developed by the Latvian Chamber of Commerce and Industry. Best in category prizes were also won by projects from Finland, Ireland, Belgium, Portugal, Turkey and Slovakia.