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).

Objectives

• 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 the 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.