COSME

COSME was the EU programme for the competitiveness of enterprises and small and medium-sized enterprises (SMEs) which ran for the period 2014–2020. For the 2021–2027 period, its activities have been absorbed into the broader single market programme, while the financial instruments have been absorbed into InvestEU.

The programme included the following.

Facilitating SMEs’ access to finance at different phases of their life-cycle. Business creation, expansion or transfer through the Loan Guarantee Facility and the Equity Facility for Growth.
Supporting internationalisation and access to markets. Help for SMEs so that they can benefit from the EU’s internal market and opportunities in markets outside the EU. COSME co-financed the Enterprise Europe Network (to help SMEs find business and technology partners) and funded web tools (Your Europe business portal, the SME internationalisation portal and intellectual property helpdesks) to advise on intellectual property rights, standards and public procurement rules.
Creating an environment favourable to competitiveness. Reducing unnecessary administrative and regulatory burdens (for example, measuring the impact of EU law on SMEs and developing smart and business-friendly legislation), helping SMEs to take up new business models and promoting clusters of excellence, e-skills and e-leadership.
Encouraging an entrepreneurial culture. Mobility exchanges, research, diffusion of best practices and pilot actions.

COSME was designed to implement the EU’s ‘small business act’, reflecting the recognition of the central role played by SMEs in the EU economy.