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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