The COSME programme addresses four main objectives:
Ease access to finance for SMEs by providing loan guarantees and risk capital (access to finance)
Help companies access new markets, within and outside the EU (access to markets)
Create a business-friendly environment by reducing the administrative burden on SMEs (improving conditions for businesses)
Encourage an entrepreneurial culture (encouraging entrepreneurship)
The European Commission designs policies and is responsible for the programming. It delegates parts of the implementation of EU programmes, such as COSME, to executive agencies. The Executive Agency for Small and Medium-Sized Enterprises (EASME) manages the parts of the COSME work programme addressing access to markets, improving conditions for businesses and encouraging entrepreneurship on behalf of the European Commission. Financial instruments under access to finance are managed by the European Investment Fund (EIF).
The COSME programme disposes of a EUR 2.3 billion budget from 2014 to 2020.