Business FinanceThe European Single Market that was founded in 1993 has great development perspectives for business finance. First of all, the Member States have the liberty of movement of goods, services, people and capital and also have a very competitive atmosphere in all domains and fields of activity. Also, the European Union presents great advantages for small businesses that need more than the personal finance of an administrator or associates.
The European Union has developed some instruments of support for any small business that would be noted as eligible according to their standards and their conditions. The support is granted directly or indirectly. The indirect support that the European Union may grant to any small business plan comes from the Union’s policies that provides a healthy competitive and innovative framework and through an entrepreneurship program. Through their programs and their initiatives, the European Union also wants to support and to provide to all entrepreneurs of small and medium enterprises an equitable finance program. If the business plan meets the requirements imposed by the European Committee, the business will also have great chances to be financed by the Union. A business finance plan must be accurate and also forecasted on the last 5 years, at least, but if decided to open a business in Europe you will have to know the exact eligibility conditions that the Union imposes for the candidates.
Another method by which the European Union supports small enterprises is directly, by granting funds to each eligible candidate for a specific domain of activity. They have numerous programs and conditions for any field that need to be met in order to receive the financial aid every starting business needs. The main areas or domains in which the Union grants financial management aid are: research and development, education and training, environment, energy and transport. All of these programs have a limited budget which will be divided as a business finance aid if they can come up with a good plan and a good project that can improve the current conditions.
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