improving the business environment and access to finance for smes
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Improving the business environment and access to finance for SMEs
Paris, 28 April 2016
Kristin SCHREIBERDirector, COSME ProgrammeDG Growth, European Commission
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What is the Small business act (SBA)?• Communication in place since 2008,• A set of politically binding principles, and • A set of concrete measures (legislative and non-
legislative)
Objectives:1. Improve the overall policy approach to
entrepreneurship in Europe2. Anchor the “Think Small First” principle in policy-
making by removing the remaining barriers for SMEs3. Promote SMEs’ growth
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What are the 10 SBA principle areas?1. Entrepreneurship2. "Second Chance"3. "Think small first"4. "Responsive administration"5. Public Procurement6. Access to Finance7. Single Market8. Skills & Innovation9. Environment10. Internationalisation
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Think Small First
1. Public administration responsive to SMEs' needs
- e-government solutions
- 'only once' principle- common
commencement dates
Simplifying the regulatory and administrative environment for SMEs
2. Impact assessment for new legislation
- exemptions for micro-enterprises
- SME Test
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Responsive administrationExample: Improving start-up times (in days)
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Start-up initiativeConsultation on improving environment for start-ups in Europe Open until 31 July 2016
Set of measures to increase and diversify the funding sources for Europe’s businesses
Capital Markets Union
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Data from "Survey on the Access to Finance of Enterprises (SAFE)"December 2015
Access to finance as the most important issue in South East Europe
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EU financial instruments 2014-2020
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COSME Financial Instruments
• Support those SMEs which would otherwise not obtain financing through: Debt financing: Focus on higher risk SMEs/riskier transactions Equity financing: Focus on SMEs in their growth and expansion
phase
• Overall target: Provide support to up to 330 000 SMEs; mobilise up to €25 billion in financing
• Total budget of approximately €1.4 billion for both instruments, allocated on demand
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EU debt financial instruments (31/03/2016)
Since roll-out in summer 2014 over €5.5bn has already been committed to agreements with financial intermediaries in 27 countries.
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EU support in Western Balkan & Turkey
Albania BiH
Bulgaria
CroatiaFY
RM
Montenegro
RomaniaSe
rbiaTurke
y0
5
10
15
20
25
30
35
WB EDIFStructural FundsRSIProgressInnovFinEIBEaSICOSMECIP
NO o
f agr
eem
ents
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Over 100 agreements with financial institutions in Western Balkan & Turkey such as with …
• COSME agreement - (Romania):
• EU support is expected to mobilise EUR 53 million to the benefit of over 1,650 companies.
• InnovFin (7 countries in Western Balkan):
• The umbrella agreement will help to finance innovative companies with a total of EUR 250 million
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More than 100,000 companies already benefited from new EU financial programmes (2014-2020) across Europe
• COSME support for Basarom Com (Romania): Vendor of machineries for agriculture and construction
• WB EDIF support for Biohem (Bosnia & Herzegovina): laboratory for medical diagnostics
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How to apply for EU Finance Financial institutions invited to apply by Sept 2020
www.eif.org
Businesses invited to apply for EU finance www.access2finance.eu
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