EU4Business projects have created more than 10,000 new jobs since the initiative launched in 2009, according to a Consolidated Report of its activities.
The Report, presented to the 1st EU4Business General Assembly in Brussels on 17 May, says a further 93,000 jobs in SMEs have been supported by business advice under the initiative.
Further achievements
From 2009 to 2016, other impressive results include:
- Almost 100 000 enterprises received 190 000 sub-loans for a total value of EUR 1.5 billion.
- Almost 40 proposals for policy strategies and legal reforms were made in the six countries.
- CO2 emissions were reduced by 172,444 tonnes per year by environmentally-oriented projects, while energy savings of almost 820,000 Megawatt-hours per year were registered.
Areas for improvement
There remain areas where further work is needed, however:
- Corruption, inappropriate tax policies and customs procedures are still hampering growth for SMEs.
- More enabling business environments and financial infrastructures are needed to allow for sustainable funding of the real economy.
- Institutions and bodies guaranteeing access to finance for SMEs need strengthening.
- Awareness needs to be increased about the advantages of starting a company and knowledge of entrepreneurship enhanced.
The Report draws on data and information in national reports in the six countries.
The number of projects under EU4Business continues to increase, up to 25 ongoing, six programmed and four completed in 2017, corresponding to a financial commitment of EUR 330 million. This compares to 17 in 2015 (EUR 198 million).