SME competitiveness
Small and medium-sized enterprises are vital for the EU's economy, accounting for more than 99% of European businesses and two thirds of private sector jobs.
Enhancing sustainable growth and competitiveness of SMEs and job creation in SMEs, including by productive investments, is one of the specific investments for Cohesion Policy in the 2021-2027 period.
In addition, SMEs are also supported under other specific objectives, particularly in relation to research and innovation, the low-carbon economy and information and communication technologies.
The European Regional Development Fund (ERDF) ERDF is one of the main sources of support for SMEs competitiveness and their transition towards more sustainable and digital models.
The increased use of financial instruments mobilising additional EU, national and regional funds during the 2021-2027 funding period is also to benefiting SMEs.
These investments will foster SMEs competitiveness by:
- Fostering the creation of new firms, growth of start-ups / scale-ups, accelerators.
- Encouraging the entrepreneurial ecosystem.
- Promoting the participation of SMEs in global value chains.
- Internationalisation of SMEs.
- Supporting participation of SMEs in support networks.
- Facilitating access to finance and advanced business services to SMEs.