Approximately one third of EU citizens would prefer to be self employed. This figure has decreased over the past three years, down from 45% to 37%. This figure is lower than any of the European Union's competitors.

In January of this year the European Commission adopted the Entrepreneurship 2020 action plan. The action plan contains three pillars. The first pillar concerns education and training. The aim is to provide secondary school students with entrepreneurial skills. This could be achieved by involving students in projects such as mini company programmes. There is evidence to show that students involved in such activities are three to six times more likely to start up their own company later in life. In addition, it also increases the employability of young people as they develop skills which are essential for any working environment. Such an initiative is already in place in Austria. It is a voluntary initiative entitled the Entrepreneurs' skill certificate. It provides secondary school students with economic and financial knowledge as well entrepreneurial skills. Another means of providing young people with entrepreneurial skills is Erasmus for Young Entrepreneurs. This programme is an essential part of the competitiveness for Entrepreneurs and SMEs 2014 to 2020 initiative.

The second pillar aims to create a more entrepreneur friendly environment. Six main actions are envisaged by the European Commission. It is hoped these measures will provide assistance to both new entrepreneurs as well as already existing businesses. The main obstacle in starting up a business in access to finance; the Commission therefore intends to address this issue providing easier access to financing for both start up and established companies. Measures will also be taken to reduce the administrative and regulatory burdens on entrepreneurs. In particular it is hoped the red tape of SMEs and be simplified. Living in a digital age, the Commission hopes to this will open new opportunities for business and in particular SMEs. It is envisaged the development of clusters and business networks to assist SMEs in keeping up to date with the technological advances and make them more competitive globally. The European Commission also intends to reduce the discharge time applicable to honest bankrupt entrepreneurs thus giving them a second chance. In addition, the Commission wishes to remove barriers which act as obstacles to cross-border business transfers. Finally, the Commission hopes to reduce the time frame associated with administrative procedures such as the obtaining of licenses and authorisation to start up a business. It hopes that by 2015 it will only take thirty days to start a business.

The third and final pillar of the proposal focuses on releasing untapped entrepreneurial potential. This would involve intergeneration mentoring to promote good entrepreneurial practices. It also requires an increase in the representation of groups which are generally under represented such as ethnic minorities, migrants and women. Only one third of all entrepreneurs are women despite representing 52% of the population. These under represented groups of society are also those which are mostly likely to be affected by unemployment.

Entrepreneurs particularly in the form of SMEs can greatly boost growth and employment. Every year approximately four million jobs are created by SMEs. They are the biggest contributors to employment in the European Union. SMEs provide an estimated two thirds of jobs in the private sector. The European Commission's action plan is currently being examined by the European Parliament. The Parliament supports the introduction of such an action plan. In addition to the measures in the Commission's action plan the Parliament wishes to simplify tax regulations which are applicable to start up businesses. It also would like to see a one stop shop created which would provide businesses all the information necessary regarding procedures and obligations. An example of such a one stop shop is Austria's business service portal. Finally, the Parliament hopes to align the legal framework of both the self employed and of employees. This would include allowances such as sick pay and maternity leave.