The COSME programme is the programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises running from 2014 – 2020 with a planned budget of EUR 2.3 billion. The programme is giving SMEs all around Europe the opportunity to flourish through EU funding that can help them take their activities to the next level.
SMEs constitute the backbone of the European economy, providing almost 85% of all new jobs. The EU with actions taken is aiming at promoting entrepreneurship and improve the business environment for SMEs thus giving them the opportunity to realise their full potential and have an active role in today’s global economy.
The programme is able to help business in four different ways:
1) Opening Markets
The programme can help businesses gain access to markets all around the EU and across the globe. The Enterprise European Network is funded by the programme and it helps SMEs find other businesses and technology partners as well as understand the EU legislation. It also funds the Your Europe Business portal, a portal that provides information on doing business within the EU. Finally the programme finances a great number of IRP (Intellectual property rights) SME Helpdesks.
2) Supporting Entrepreneurs
The programme has been built in such a way to manage and support entrepreneurs. That is achieved through entrepreneurship education, mentoring, guidance and many other services provided by the programme. These actions are able to support specific groups of potential entrepreneurs that find it difficult to reach their full potential. Like for example, young people, women, and senior entrepreneurs. The programme also offers people access to digital technologies that can help them access even more business opportunities..
3) Improving Business conditions.
Another one of the programmes aims is to reduce the administrative and regulatory burden on SMEs. This is achieved by creating a business-friendly environment. The programme helps businesses to be more competitive by encouraging them to adopt new business models and include innovative practices to their routine. There are certain areas that are highly profited by these actions due to the potential growth they can bring, such as the tourism section.
4) Accessing finance
Last but not least COSME makes it a lot easier for SMEs to gain access to better finance, in all the different faces of their lifecycle. The EU supports business and thanks tou EU funding businesses now have much better access to guarantees, loans and equity capital. EU ‘financial instruments’ are channelled through local financial institutions in EU countries.
To find a financial institution in your country, and all available funding through the COSME programme visit the eucalls.net platform. Create the profile of your SME or business today and start searching for the right COSME funding opportunity. Start the networking with other SMEs and explore possibilities of collaboration under new EU funding project proposals!
