European Union Policy in favour of Small and Medium-Sized Enterprises in the years 2007-2013

This article aims to present and analyze the European Union policy in favour of entrepreneurship as well as small and medium-sized enterprises (so-called fifth multiannual program) as well as the most important directions of activities of the Community for Entrepreneurship and Innovation in the latest programming period 2007-2013. The article discusses the Community institutions implementing the EU policy for SMEs. Particular attention was paid to the analysis of the fifth multiannual program for SMEs - Entrenreneursip and Innovation Programme (EIP 2007-2013). The main directions of activities undertaken by the Community since the beginning of the current programming period, ie since 2007, were also discussed . At the end of attempts to analyze the available sources of Community financing for SMEs.entrepreneurhsip, small and medium-sized enterprises (SMEs), European Union