Tag ‘small and medium-sized enterprises’
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
Read the full original article on Forbes.
EEPA 2017 winner Business Generator from Sweden may be on a temporary pause, but they still have many company success stories from the people they helped. Today, project director Anette Rhudin tells us about some of the women involved in Business Generator and their entrepreneurial stories.
A local food application connecting farmers and customers
Kicki is a farmer from Värmland, who had the idea to create an app to make it easier for people to buy food directly from the farmers that produce it. Currently there is no “easy” connection between customers and farmers, and customers are forced to drive to several different farms to get the produce they are looking for. Kicki’s app creates that connection and allows farmers to directly communicate with their audience and promote their goods.
A local hotel benefitting local industry
When Marianne first came to Business Generator she was having a tough time with her hotel business and really needed help. During her time in the generator she learnt a lot and developed great skills surrounding customer questions and marketing. She worked hard and put a lot of money and her time to define her customers and “talk” to them.
As a result of her training with the generator she changed her trademark and developed cooperative relationships with other tourist attractions in this area. Her success has allowed her to expand the number of rooms and bring significant investment to her village. She also makes sure to use décor from the area and offer local food from farmers close to the hotel.
Generational business passes to a female entrepreneur
Anna is now a successful entrepreneur who is the fifth to run the Sahlströmsgården. Anna came to the Business Generator to successfully handle the generational shift and receive assistance with the associated legal changes. She handled all of this whilst still running the company and overseeing daily operations.
At the beginning of Business Generator it was not easy to attract women to take part as they prioritised their businesses and did not see how to make time for generator activities. Eventually some saw the benefits of the generator and joined in to benefit from the support.
Today on Promoting Enterprise we are catching up with European Enterprise Promotion Award (EEPA) 2017 winner Business Generator, from Sweden, specifically project coordinator Annette Rhudin. The European Enterprise Promotion Awards reward those who promote entrepreneurship and small business at the national, regional and local level.
The “Investing in entrepreneurial skills” category winner shares the future of Business Generator and what winning an EEPA prize and participating in the EEPA process meant to them.
In an ideal world all European issues would be looked at from a European perspective, like those of SMEs being considered by the European Commission. Through initiatives like the EEPA competition, SMEs have been identified and celebrated as the backbone of European economy and key sources of employment.
The EEPA competition also brings out certain issues that several SMEs face, and the support that projects, like Business Generator, are offering to entrepreneurs and enterprises across Europe. One thing that stood out for me, that has certainly been an issue for Business Generator, is disparity between regions and the need to adapt different strategies. Some regions are experiencing growth and have access to funds and resources, whereas others are struggling to grow and have little to no access to the same resources, like my own region of Värmland in Sweden. The EEPA competition is a fantastic opportunity to see what is going on in Europe, to meet others striving to help SMEs and ultimately gain visibility for the work you do.
The future of Business Generator remains uncertain, and despite coming “top of the class” in Europe, will not continue, for now. The Business Generator team had several meetings at both regional and national level, but the budgets have already been defined and there is no surplus to fund the continuation of Business Generator. Municipal budgets have also been defined, and due to how tight they are, unfortunately there is no room for Business Generator. This is not to say that there is no interest in Business Generator, but for the project to continue interest alone is not enough.
The project itself is new and innovative, and challenges old ways of thinking. Whilst this is the way forward for SMEs it is a daunting investment to make, and when budgets are tight means that it is less likely to receive support. This also represents the current situation in Sweden, where SMEs receive almost no government research and development funding, which is largely distributed to universities, large companies and the public sector.
In comments from the Swedish National Audit Office, SMEs and innovation were recognised “as keys to Sweden’s future growth”, yet the body also stated that only “a minor part of total state aid to the business sector is directed at R&D and innovations as well as at small and medium-sized enterprises”. Whilst this is somewhat disheartening I believe that the solution is to take care of SMEs, and show this through concrete actions.
I hope that there is a future for Business Generator and would be interested to know more about the situation in other countries regarding SME funding. Currently in Sweden, SME’s receive 3,7 % of the state aid, but deliver four out of five new jobs. My wish is that the funding statistics will change and that SMEs can continue to deliver jobs and receive the support they need both at national and European level.
Whilst the Business Generator journey may have temporarily come to an end, I would like to thank the European Commission, for helping to highlight the good work that is going on across Europe through the EEPA competition. Finally, my message to potential future applicants, apply for EEPA 2018, this is an important opportunity and you should take it!
Interested in finding out what happened to some of the companies helped by the Business Generator? Come back soon to find out right here on the Promoting Enterprise News Portal.
Watch the ‘winning moment’ for Business Generator from EEPA 2017: