Why are standards important?
Standardisation is an important instrument for the European internal market policy. It is a way to strengthen innovation in promoting competitiveness. In this context, SMEs have an important role to play since they represent 99% of the European companies.
The application of standards ensures SMEs decisive advantages such as:
- enlarging the potential market for products,
- facilitating product compliance
- lowering transaction costs
- achieving economies of scale
- reducing external effects (like environmental impact)
- Improving compatibility and interoperability and simplifying product development, and speeding time-to-market.
- improving management systems