Finally we are going to address the opportunities that exist within the EU level. The European Commission supports access to funding for businesses through local financial institutions in EU countries and partners countries. These institutions determine the exact ﬁnancing conditions – the amount, duration, interest rates and fees. The following are some of the EU programmes that support SMEs:
1 European Fund for Strategic Investments has a dedicated SME Window offering up to a total of EUR 5.5bn of either funding resources or guarantee capacity to support a number of products to be implemented through the European Investment Fund (EIF).
2 Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises aims to make it easier for SMEs to access finance in all phases of their lifecycle – creation, expansion, or business transfer.
3 EU Finance for Innovators consists of a series of integrated and complementary financing tools and advisory services covering the entire value chain of research and innovation in order to support investments from the smallest to the largest enterprise.
4 EU Programme for Employment and Social Innovation. The target beneficiaries are vulnerable groups, micro-enterprises and social enterprises. It promotes a high level of quality and sustainable employment, guaranteeing adequate and decent social protection.
5 Cultural and Creative Sector Guarantee Facility. The programme offers loans and other financial products to creative enterprises through intermediaries such as banks.