Transcript Slide 1

SME Financing:
EU Programmes and EFSI
Roger Havenith
Head of Unit
Financing of competitiveness, innovation
and employment policies
European Commission
DG Economic and Financial Affairs
Ljubljana, 15 May 2015
SMEs in the EU

28 million SMEs in the EU:
Share of total number of EU companies
 account for more than 99% of
all companies
 employ 66.5% of all privatesector workforce

Slovenia
 115,000 SMEs
 72% of all privatesector workforce

Very flexible

Stable employer, source of organic
growth and innovation
Source: Eurostat, Commission Communication on
Modern SME policy for Growth and Employment
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SMEs: Access to finance in Slovenia
Short term interest rates
for loans
 Slovenia: higher rates
than in peer countries
(SK – in the euro area;
PL, CZ – outside euro
area)
 Higher rates than EU
average (EA – in red)
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Eco-system for SME Financing
 Healthy fiscal situation, sound financial markets:
Assistance to countries in difficulty, creation of new legislation
and institutional infrastructure
 Legislation supporting financial market efficiency (work on
pan-European banking market or truly European venture
capital industry)
 Entrepreneurship support
 catering for the needs of SMEs,
 information and partnership network,
 start-up programmes, incubators, awards
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Information and Networking
 One-stop-shop for SMEs: Enterprise Europe Network
 600 business support organisations in 53 countries
 Information and advice on EU funding programmes, EU
legislation and other matters related to doing business in
other European countries
 Facilitating cross-border business cooperation, R&D
and technology transfer
 Feedback to the Commission on EU legislation
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Financial Support to SMEs
 Grants (for research, innovation, climate change, etc.)
 Financial instruments
 Guarantees to financial intermediaries that provide lending to e.g.
infrastructure projects, SMEs, persons at risk of social exclusion
 Equity/risk capital, e.g. venture capital to SMEs with high growth
potential or risk capital to infrastructure projects
 Other risk-sharing arrangements with financial intermediaries
in order to increase the leverage capacity of the EU funds
 or a combination of the above with other forms of EU financial
assistance in single instruments (e.g. grants, or as joint
instruments with Structural Funds)
Source: Financial regulation (EC) No 966/2012, Commission delegated regulation of 29.10.2012 on the rules of application
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1998-2013: EU Financial Instruments for SMEs
Debt Financing
 SME Guarantee Facility
2007-2013: So far approx. EUR 595m of EU budget generated EUR 19.3bn of lending to
368,000 SMEs, volumes are increasing fast.
 Risk-Sharing Finance Facility (RSFF)
2007-2013: Dedicated guarantee for SMEs, supporting lending of 2.8bn to research and
innovation intensive SMEs and small mid-caps.
Equity
 Investments in venture capital funds
2007-2013: So far, EUR 553m of EU resources generated EUR 3bn of total investment
volume available, amounts growing fast. 458 highly innovative SMEs covered so far.
In addition
 Structural Funds
2007-2013: EUR 11.5 billion dedicated to financial instruments for SMEs
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Financial Instruments for 2014-2020
EU-level Instruments
Research,
Development
Innovation
Growth, Jobs
and Social
Cohesion
Regional / National
Instruments
Horizon 2020
Equity and Risk Sharing Instruments
(EUR 2.7 bn, including at least EUR 1.5bn for
SMEs)
SME Window
(SMEs and small
mid-caps)
Instruments under
European
Structural and
Investment Funds
Competitiveness
& SME (COSME)
Equity & guarantees
Creative Europe
Guarantee Facility
(EUR 1.4 bn)
(EUR 121m)
Joint with EU level
Social Change
& Innovation (EASI)
Erasmus+
Guarantee Facility
Off-the shelf
instruments
(EUR 192m)
Infrastructure
Investment
Plan - EFSI
(EUR 517m)
Connecting Europe Facility (CEF)
Risk sharing (e.g. project bonds) and
equity instruments
Infrastructure
and Ionnovation
Window
Tailor made
instruments
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SMEs: Where to look?
http://access2eufinance.ec.europa.eu
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New Investment Plan (EFSI)
SME Window

Support to SMEs and mid-caps is foreseen. A specific SME Window
will be created.

Financial support must be additional to what will have been delivered
under the existing and already foreseen programmes in the period
2015-2018.

The SME Window should have a budget of up to EUR 5 billion

The SME Window should mobilise more than EUR 75 billion of
investment. Around 185,000 SMEs and small mid-caps are
expected to benefit from the support.
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