With a budget of € 2.5 billions over the period 2014-2020, the Programme for the Competitiveness of Enterprises and SMEs, COSME is a funding instrument, which is largely continuing the activities under the current Competitiveness and Innovation programme (CIP). The new programme targets in particular: 1) entrepreneurs, in particular SMEs, which will benefit from easier access to funding for their business, 2) citizens who want to become self-employed and face difficulties in setting up or developing their own business, 3) Member States’ authorities, which will be better assisted in their efforts to elaborate and implement effective policy reform.

European Commission Vice President Antonio Tajani, responsible for enterprises and industry, said: “Easing SMEs access to finance, markets and entrepreneurship policies, is key to overcome the crisis. This programme will help to unlock the growth potential of enterprises focusing on boosting the real industry. We will strengthen competitiveness of businesses and create new jobs, and ultimately reinforce the growth potential of the EU economy.”