Technology and the internet are becoming an essential base for many companies in Europe. Many digital and non-digital businesses decide to take their enterprise to the digital age. As soon as the European Union took note of this development, it followed the concept of its own Internal Market in order to create a common one. In May 2015, the Europe Commission started planning the creation of a digital single market among all members of the EU. For the moment, this plan is to be continued until 2020. It is based on a series of initiatives, to which companies and European Commission are obligated in order to improve the access to information, e-commerce and the implementation of information and communication.
Although the digital market in Europe is growing, it still has to overcome some deficiencies that prevent it - in a way – from creating a more developed and stronger industry. This plan is established to resolve difficulties that may arise when companies want to conduct business via Internet. According to estimates, the creation of a common digital market would imply an income of 415.000 million Euros a year for the European economy. Furthermore, it would stimulate the development of the continent’s entire digital market and thus generate employment in this sector.
Legal regulations that differ from country to country together with the lack of opportunities contribute to the situation that attaining free digital trade and realizing the full technological potential are still huge challenges for Europe. In this sense, it is the Start-ups that is risking and innovating new business models and that achieve an increase of investment over time. In spite of this, the European Commission is still under discussion to decide on the implementation of this project and on which will be the participating member countries.
Reference: Juncker, J. (2016). Political Guidelines for the next European Commission. 1st ed. [PDF] Strasbourg: Jean-Claude Juncker. Available at: http://www.eesc.europa.eu/resources/docs/jean-claude-juncker---political-guidelines.pdf [Accessed 8 Jun. 2016].