Press Release: € 2.5 billions to boost business competitiveness and SMEs 2014 – 2020

Promote access to finance and encouraging an entrepreneurial culture, including the creation of new enterprises are the core issues of the new financial support programme, tabled by the European Commission.

With a budget of € 2.5 billions over the period 2014-2020, the Programme for the Competitiveness of Enterprises and SMEs, COSME is a funding instrument, which is largely continuing the activities under the current Competitiveness and Innovation programme (CIP).

The new programme targets in particular: 1) entrepreneurs, in particular SMEs, which will benefit from easier access to funding for their business, 2) citizens who want to become self-employed and face difficulties in setting up or developing their own business, 3) Member States' authorities, which will be better assisted in their efforts to elaborate and implement effective policy reform.

European Commission: Memo/11/852: EU access to finance schemes created more than 175 000 jobs and will create more jobs http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/852&format=HTML&aged=0&language=EN&guiLanguage=en

---