The Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) will run from 2014 to 2020, with a planned budget of €2.5 billion (current prices) from the EU Budget.

Building on past experiences, the aim of COSME is to ensure continuity with initiatives and actions already undertaken by the Entrepreneurship and Innovation Programme (EIP). Although many successful features of the EIP will be maintained, the management of the programme will be simplified to make it easier for entrepreneurs and SMEs to benefit therefrom.

The first objective of COSME programme is to facilitate the access of Small and Medium-Sized Enterprises to required financing. Secondly, this programme seeks to create an environment which is favourable to business-creation and growth. Moreover, the programme endeavours to encourage an entrepreneurial culture in Europe while also seeking to increase the sustainable competitiveness of EU companies. The final objective of COSME is to help small businesses operate outside their home countries and to improve their access to markets.

The following are the main beneficiaries for the COSME Programme: Existing entrepreneurs (small businesses, in particular) – easier access to funding for the 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, EUwide data and statistics, best practice and financial support to test and scale-up sustainable solutions for improving global competitiveness.

The COSME programme is expected to commence on January 1, 2014.

In due course, an information session on the new programme will be organised by the European Commission Representation in Malta with a view to inform relevant stakeholders and to stimulate debate at the national level.

For more detailed information, one may contact the European Comission Representation in Malta on comm-rep-mt@ec.europa.eu.

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