Community Research and Development Information Service - CORDIS

Improving the financial environment of SMEs

Within the framework of the third multiannual programme for SMEs, the European Commission, DG XXIII, has published a call for proposals aimed at improving the financial environment of SMEs. The Commission intends to develop financial engineering instruments that can rectify weaknesses in financial structures in SMEs. This would not only be in terms of the volume of financial resources channelled towards SMEs, but also in terms of jobs created.

The call for proposals is aimed at the creation and development of:

- Networks connecting informal investors (business angels) on the one hand, and creators of SMEs, or young SMEs, on the other, thereby increasing the effectiveness of the informal venture capital sector;
- Mutual guarantee companies (MGCs), in order to increase the availability of medium and long-term loans to SMEs by providing guarantees on these loans.

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Economic Aspects
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