|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 347|
Regulation of the European Parliament and of the Council of 11 December 2013 establishing the COSME Programme as a means of addressing key market failures that limit the growth of enterprises, particularly SMEs, in the European Union.
Enterprises, particularly small and medium-sized enterprises (SMEs), are an important contributor to growth and employment in the EU. If the Union is to deliver its Europe 2020 priorities of smart, sustainable and inclusive growth, competitiveness needs to be centre stage.
Union enterprises face the challenge of being competitive on a global scale. However, they are hindered by market failures that undermine their capacity to compete with counterparts in other parts of the world. The difficulties SMEs face have been aggravated by the recent economic and financial crisis and commodity and resource price increases. While actions to tackle these market failures are primarily the responsibility of the Member States and regions, in some areas there is the clear potential for EU added value.
In line with the Europe 2020 strategy, this Programme is designed to create the conditions for European enterprises to flourish and to ensure that SMEs are able to take full advantage of the Single Market's enormous potential, as well as encouraging them to look beyond it.
|Subject Categories||Business and Industry, Internal Markets|
|Subject Tags||Small and Medium-sized Enterprises [SMEs]|
|International Organisations||European Union [EU]|