Benefits of Doing Business in the European Union (EU)

Being the world’s largest single market, EU has a host of opportunities for rampant business growth. Doing business in EU ensures the ultimate success with the right business approach. External investments and foreign trades in EU are the keys elements for economic growth. There is no doubt about the fact, that the market offered by EU is highly competitive but, with a smart strategy and a rational approach, you can crack this hardest nut with your left hand. Having earned a good reputation in EU gives you an additional benefit because of it being the largest trading partner of U.S. Being the largest trading bloc in the world EU has everything to offer to boost businesses and trades.

Some major advantages of doing business in the EU are given as under:

  • The extent of competition among service providers is high because of the presence of myriads of competitors in the market.
  • Trade barriers are minimal.
  • Business cost reduces significantly.
  • Business efficiency is greatest in the market as largest as EU.
  • Eradication of anti-competitive practices e.g. cartels and monopolies.
  • Easier trade across borders.
  • Paperwork is greatly reduced because of the reforms EU has taken.
  • Homogenous safety and technical standards.
  • Doing business in EU gives you an extra edge for it is the largest trading partner of U.S.
  • Ease of common currency – Euro.
  • Easy mobility for citizens of member states to promote their businesses.
  • EU company law ensures the easiest funding access.
  • Effective and unambiguous legislation.
  • Tax-free trade for the Member States.
  • EU provides protection to employees, shareholders, and creditors.
  • Administrative burden, on enterprises, is reduced up to a great extent.
  • A wide array of goods and commodities are available for consumers to choose from.
  • Commodities and products are cheaper because of the pressure mounted by competitors.
  • Cross-Border Trade opens up free opportunities, which in return, alleviates poverty.
  • Peace maintenance and promotion among the Member States.
  • Sense of unity is prevailed all across the continent because of common economic culture and multi-national business enterprises.

The benefits of cross-border trade are immense and cannot be compared with local trade. Had it not been the single currency unit being valid all across the Member States, a lot of money would have gone into Money Exchange Operations, which is saved just because of the common currency i.e. Euro.

For more info check out the Euro Trade Union here.