The new Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) will run from 2014 to 2020, with a planned budget of €2.3bn (current prices).

The objectives of the programme will be related to:
• • facilitating access to finance for Small and Medium-sized Enterprises (SMEs)
• • creating an environment favourable to business creation and growth
• • encouraging an entrepreneurial culture in Europe
• • increasing the sustainable competitiveness of EU companies
• • helping small businesses operate outside their home countries and improving their access to markets

COSME will:
• • ensure continuity with initiatives and actions already undertaken under the Entrepreneurship and Innovation Programme (EIP), such as Enterprise Europe Network, building on results and lessons learnt.
• • continue the many successful features of the EIP, while simplifying management of the programme to make it easier for entrepreneurs and small businesses to benefit.
• • support, complement and help coordinate actions by EU member countries. COSME will specifically tackle transnational issues that – thanks to economies of scale and the demonstration effect – can be more effectively addressed at European level.

Main beneficiaries:
• • existing entrepreneurs (small businesses in particular) – easier access to funding for development, consolidation and growth of their business.
• • future entrepreneurs (including young people) – assistance in setting up their own business.
• • national, regional and local authorities – tools for effectively reforming policy: reliable, EU wide data and statistics, best practice and financial support to test and scale up sustainable solutions for improving global competitiveness.

The Commission's proposal will be discussed by the European Parliament and the Council, which must agree to adopt it. COSME should start on 1 January 2014.

For more information, please visit: http://ec.europa.eu/cip/cosme/

Source: http://ec.europa.eu/cip/cosme/