As a Directorate-General established by former President of the European Commission Romano Prodi in 2000, DG Enterprise has the responsibility to implement the activities of former DGs for Industry and SMEs (Small and Medium-sized Enterprises) as well as Innovation activities previously attached to the Information Society DG. Former Enlargement Commissioner Guenter Verheugen is currently Commissioner for Enterprise and Industry in the Barroso Commission. The Italian, Antonio Tajani is the Barroso's Commissionate-designate for Industry and Entrepreneurship

Enterprise policy addresses the entire business environment, working to enable enterprises, whatever their size, their legal form, sector or location, to grow and develop in a way that is compatible with the overall EU goal of sustainable development. It plays a major role in implementing the Lisbon strategy for growth and jobs. The main tool for the implementation of this goal is the Annual Management Plan (2009).

The policies of DG Enterprise and Industry aim to:

• promote the Lisbon Growth and Jobs Strategy;
• strengthen the sustainable competitiveness of EU industry;
• increase innovation;
• encourage the growth of small and medium-sized enterprises (SMEs) and improve the environment for businesses by reducing administrative burdens and enhancing their access to finance;
• give businesses access to all EU markets by removing the remaining national barriers - this is where the single market comes in. DG Enterprise and Industry manages the single market for goods while DG Internal Market & Services manages the internal market for services;
• strengthen the space sector and improve security technology;
• increase sustainability, and
• help EU businesses find their place and expand on the global market.