New European programme for SMEs (2014/2020)

The Programme for the Competitiveness of Enterprises and SMEs, COSME will focus on financial instruments and support to the internationalisation of enterprises.

The Programme has the following general objectives:

- Improve access to finance for SMEs in the form of equity and debt: First, an equity facility for growth-phase investment will provide SMEs with commercially-oriented reimbursable equity financing primarily in the form of venture capital through financial intermediaries. Second, a loan facility will provide SMEs with direct or other risk-sharing arrangements with financial intermediaries to cover loans.

- Improve access to markets inside the Union and globally: Growth-oriented business support services will be provided via the Enterprise Europe Network to facilitate business expansion in the Single Market. This programme will also provide SME business support outside the EU. There will also be support for international industrial cooperation, particularly to reduce differences in regulatory and business environments between the EU and its main trading partners.

- Promote entrepreneurship: activities will include developing entrepreneurial skills and attitudes, especially among new entrepreneurs, young people and women.

The Programme is expected to assist yearly 39 000 firms, helping them create or save 29 500 jobs and launch 900 new business products, services or processes, yearly.

Download a more detailed leaflet of the new programme