SME Flagship Initiative

The SME Flagship Initiative has been designed to address constraints that, to varying degrees, affect the development of SME’s in EaP Countries. These are:

  • An inadequate SME business regulatory framework and lack of inter-regional and international networking mechanisms.
  • Lack of available and/or cost effective advisory services for SME’s.
  • Lack of funding due to under-developed capital markets and a financial sector still in transition.

The objectives of the SME flagship initiatives are:

  • To encourage convergence with EU policies and “acquis” communautaire in the field of SME (Small Business act).
  • Establish networks between public and private institutions of the EU and the Partner Countries, strengthen business links at EaP regional level as well as between EaP and EU SME’s, enhance exchanges on matters such as customs regulations; market conditions, SME’s internationalisation.
  • Provide cost effective advisory services to SMEs and develop local expertise capacity Improve access to funding for SMEs to foster economic development and mitigate the impact of the financial crisis.

The SME flagship initiative will be implemented thanks to 3 instruments:

  • Institutional technical assistance:By means of the East-Invest programme managed by EUROCHAMBRES
  • Advisory Services: An « enhanced » TAM/BAS programme managed by the EBRD and funded by the European Union
  • Funding Facility:A financial facility for SMEs to be jointly implemented by the EIB and the EBRD

Related Website

http://eeas.europa.eu/eastern/initiatives/index_en.htm

This publication has been produced with the financial assistance of the European Union. The contents of this publication are the sole responsibility of EUROCHAMBRES and can in no way be taken to reflect the views of the European Union.

© 2011 East Invest Support Office
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