This paper examines the role and importance of the freedom to conduct a business enshrined in Article 16 of the Charter of Fundamental Rights of the European Union (CFR). With the entry into force of the Lisbon Treaty, the CFR became legally binding, gaining the same legal value as the Treaties. It will be argued here that Article 16 CFR, which recognizes the right to economic initiative, can be an important force for European integration by acting as a new engine of European social, economic, and political integration. That said, Article 16 should be read bearing its limitations in mind.