Improving the business environment and access to finance for SMEs

Paris, 28 April 2016

Kristin SCHREIBERDirector, COSME ProgrammeDG Growth, European Commission

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

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

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

4

Responsive administrationExample: Improving start-up times (in days)

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

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

EU financial instruments 2014-2020

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

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.

EU support in Western Balkan & Turkey

Albania BiH

Bulgaria

CroatiaFY

RM

Montenegro

RomaniaSe

rbiaTurke

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5

10

15

20

25

30

35

WB EDIFStructural FundsRSIProgressInnovFinEIBEaSICOSMECIP

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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

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

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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