COSME

Agreement between the European Union and Bosnia and Herzegovina on the participation of Bosnia and Herzegovina in the EU Programme Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) (2014-2020)

The general objectives of the Programme are:

- Strengthening the competitiveness and sustainability of enterprises, especially small and medium-sized enterprises

- Encourage the culture of entrepreneurship and promote the establishment and growth of small and medium-sized enterprises.

The achievement of the general goals of the Programme will be accomplished through the realization of specific objectives, namely:

- Improving the access to financial instruments for small and medium-sized enterprises in the form of shares / equities and loans,

-  Improving access to the European Union and global markets

- Improving the framework conditions for competitiveness and sustainability of enterprises, especially small and medium-sized, including those in the tourism sector and

- Promoting entrepreneurship and entrepreneurial culture.

The main beneficiaries of COSME Programme are:

-          entrepreneurs, especially in small and medium-sized enterprises, who will benefit from facilitating access to funds for the development, consolidation and growth of their businesses,

-          citizens who wish to start their own business (self-employed), young people and women entrepreneurs who are faced with difficulties in the process of starting-up their businesses.

As a specific activity of the Program, the European Commission has endorsed the Enterprise Europe Network (EEN) in terms of business support to small and medium-sized enterprises.

The total budget of the Program for the period 2014-2020 amounts to EUR 2,298 billion. Bosnia and Herzegovina has participated in the Program since 1.1.2016.