CALL: EUROPEAN NETWORK FOR EARLY WARNING AND FOR SUPPORT TO ENTERPRISES AND SECOND STARTERS
Call identifier: COS-EARLYWARNINGEU-2016-4-01 Publication date: 23 March 2016
Call summary and aims
In Europe almost 50% of enterprises do not survive the first 5 years of their existence while an average of 200,000 firms are going bankrupt across the EU each year, resulting in direct job losses of 1.7 million people. It is essential to have modern laws and efficient procedures in place to help businesses, which have sufficient economic substance, to overcome financial difficulties and ensure that entrepreneurs get a "second chance".
Insolvencies are a fact of life in a dynamic, modern economy. Yet, insolvency frameworks in many EU countries continue channelling viable enterprises in financial difficulties towards liquidation rather than restructuring while experience shows that the earlier companies in difficulties are able to restructure, the higher their chance of succeeding. But early restructuring (before formal insolvency proceedings are started) is not yet provided for in several EU countries. Furthermore, long discharge periods and conditions for failed entrepreneurs are often so strict that bankruptcy effectively bars a failed entrepreneur from a quick second start and sometimes even results in a "life sentence" away from business.Budget Information:
The total budget earmarked for the co-financing of projects is estimated at EUR 3,800,000.00.
EASME expects to fund 1 (one) proposal.
The grant is limited to a maximum reimbursement rate of 75% of eligible costs.
- 23 March 2016 00:30 The submission session is now available for: COS-EarlyWarningEU-2016-4-01(COSME-GA)
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