The core issues of the new financial support programme for the period 2014-2020 was presented by the Commission. Among them, promote access to finance and encouraging an entrepreneurial culture, including the creation of new enterprises.

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

In addition, the COSME Programme will focus on financial instruments and support to the internationalisation of enterprises and it will be simplified – to make it easier for small businesses to benefit from it. This programme is related to the recently presented EU Framework Programme for Research and Innovation Horizon 2020.

Therefore, its general objectives include to improve access to finance for SMEs in the form of equity and debt; improve access to markets inside the Union and globally. Growth-oriented business support services will be provided via the Enterprise Europe Network to facilitate business expansion in the Single Market. And to promote entrepreneurship: activities will include developing entrepreneurial skills and attitudes, especially among new entrepreneurs, young people and women.