Five Good Reasons To Boost Your Business with Erasmus For Young Entrepreneurs

March

28

2019

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SMEs represent 99% of businesses in Europe and contribute to 60% of European private sector employment, creating 85% of new jobs. Enabling them to benefit even more from the Single Market is a priority for the European Commission. And in this light, it has been already 10 years since the European Union-funded program Erasmus For Young Entrepreneurs was launched as an initiative of the European Parliament. As a critical action of the Entrepreneurship 2020 Action Plan, the program aims to reignite entrepreneurial spirit in Europe, support new businesses in crucial phases of their lifecycle and help them to grow.

In essence, Erasmus for Young Entrepreneurs is a cross-border programme facilitating the exchange of entrepreneurial and management experience. The exchange is implemented by a stay of a newly established or potential entrepreneur with a well-experienced entrepreneur running a small or medium-sized enterprise in another country.

The two main actors are 1. The New Entrepreneurs (NE), understood both as nascent entrepreneurs, who are firmly planning to start their own business and entrepreneurs who have recently launched their own business with less than three years of operability and 2. The Host Entrepreneurs (HE) or successful and experienced entrepreneurs directly involved in entrepreneurship at SME level with more than 3 years of entrepreneurial experience.

The exchange is facilitated by national Intermediary Organisations (IOs) that have been officially appointed to establish contacts between NEs and HEs and to ensure successful relationships between them. They exist to provide with the perfect match and help both parts with everything related to promotion, information, induction, validation or improvement of applications, arranging contacts, issuing contracts, logistical support, or simple advice and guidance through the process.

Seems like a good deal,  right? But if you still need a thought, get convinced by these five additional excellent reasons to boost your business with Erasmus for Young Entrepreneurs.

1. It brings fresh air to your business

3. It doesn’t entail any extra cost

4. It is flexible

5. It is easy

Numbers speak for themselves! With more than 21,000 applications and 7000 established relationships set up, 61% of new entrepreneurs and 54% of host entrepreneurs have reported an increased turnover after participating in the programme. No magic wands, just hard work, and brilliant ideas! Ready?

Read the full original article on Forbes.