Despite the fact that European Union as a single market has been around already for a while since its formal announcement back in January, 1993, we still getting many inquiries to explain what are the main advantages what European market can offer to someone who looking to start business in Europe. And since there are really unique opportunities related to EU single market from entrepreneurs perspective, we decided to compile them into one list:
World’s largest single market
With the single EURO currency, doing business in the EURO area is more cost-effective and less risky. With a single currency, there are no longer a cost involved in changing currencies and it’s easier to compare prices in different European countries because they all are in EUROS. This enables companies to source cheaper materials and for consumers to buy cheaper goods.
One set of rules
- Easier access to funding
- Clearer and more effective legislation
- Protection for shareholders, creditors and employees
- A reduction in the administrative burden on businesses