PROGRAMME 'S OVERVIEW

What are the programme's objectives?

Facilitating business exchanges between new and experienced entrepreneurs;

Up to six months on-the-job-training enabling a successful business start-up;

Exchanging experience and knowledge about obstacles and challenges when starting and developing businesses;

Enhancing market access and identifying potential partners for new and established businesses in other European countries;

Networking by building on knowledge and experience from other European countries.

Which countries can participate?

The programme is accessible to all European new and host entrepreneurs who have their permanent residence in one of 27 European Member States, Liechtenstein, Norway, Croatia, the Former Yugoslav Republic of Macedonia, Iceland, Montenegro,Turkey, Albania, Serbia or Israel.

What is the European Union definition of micro, small or medium-sized enterprise (SME)?

The European Commission Communication defines SMEs as follow: "An enterprise is any entity engaged in an economic activity, irrespective of its legal form". "Enterprises qualify as micro, small and medium-sized enterprises (SMEs) if they fulfil the criteria laid down in the Recommendation which are summarized in the table below. In addition to the staff headcount ceiling, an enterprise qualifies as an SME if it meets either the turnover ceiling or the balance sheet ceiling, but not necessarily both.

You can check EU's SME definition here

Who can participate?

Eligible entrepreneurs are those in the early stages of their business start-up (new entrepreneurs) and experienced owners or managers of a micro or small enterprise (host entrepreneurs).

The term "new entrepreneur" includes both nascent entrepreneurs, who are firmly planning to start their own company in the coming months, or those who have already set up their own business in the last three years. Whether planned or already existing, the business can be in any sector. New entrepreneurs must demonstrate a sound educational and vocational background and a viable business idea. They must be a permanent resident in one of the 27 European Member States and should be able and willing to raise additional funds to cover the costs of the stay that exceed the EU's grant.

Host entrepreneurs are experienced businessmen or women (i.e. more than three years of activity), ideally owners of a micro or small enterprise (SME) in the European Union or persons directly involved in entrepreneurship at SME board level, abiding by the EU definition of micro, small or medium-sized enterprise. They must be willing to cooperate with the new entrepreneur towards developing his/her entrepreneurial skills and know-how.

Is there any funding available?

The European Union foresees financial assistance for new entrepreneurs, which contributes to travel costs to and from the country of the stay and covers subsistence costs during the visit. This financial assistance is paid by the new entrepreneur's intermediary organisation and its amount is subject to an agreement between both counterparts.

Once the exchange has ended, new entrepreneurs must provide their intermediary organisation with proof of expenditures. If the total expenditure is lower than the amount of financial support new entrepreneurs received as an advance payment, the paying intermediary organisation is entitled to reclaim the excess amount.

Do all entrepreneurs benefit from the funding?

The programme does not foresee any European funding for host entrepreneurs. The details of the financial support are subject to an agreement between the new entrepreneur and his/her intermediary organisation and reflect the overall living costs of the country of the stay.

What are the most important documents relevant to the programme?

Before registering for the programme, applicants are encouraged to read the Users' Guide, available in three languages: German, French and English. It contains all the general information about the conditions on how to apply for the programme. Entrepreneurs are equally recommended to read the Registration Guide for host entrepreneurs & new entrepreneurs before starting the registration process, as it specifies the documents to have at hand when applying online. At this stage, it is not possible to save half completed questionnaires.

May I participate in the Erasmus for Young Entrepreneurs programme if I have already participated in other projects funded by the European Union, such as Erasmus Mundus for Students or Leonardo?

The objectives of the programmes differ from one programme to another. A former Erasmus student may participate in Erasmus for Young Entrepreneurs providing his exchange with the Erasmus for Students programme has ended.

NEW ENTREPRENEUR

Who grants the financial support to new entrepreneurs?

The details of the financial support are subject to an agreement between the new entrepreneur and his/her intermediary organisation and reflect the overall living costs of the country of the stay. As a new entrepreneur, you must provide proof of expenditure to your intermediary organisation paying the financial support. If the expenditure proves to be lower than the initial amount of financial support provided, the paying intermediary organisation is entitled to claim back the excess.

Is there a minimum age requirement to participate in the programme?

No, there are no age specifications to participate in the programme. However, other eligibility requirements for new and host entrepreneurs - for example, educational background, business experience, firm business start-up plan- make it very difficult for individuals below the age of 18 to participate in the programme.

Must the new entrepreneur find additional funds for his/her stay abroad?

Financial support to new entrepreneurs contributes to travel costs to and from the country of the stay and covers subsistence costs (in particular in terms of accommodation) during the visit. Under no circumstances will the European Commission accept an amount higher than the set ceiling of € 1,100 for average monthly financial assistance paid to new entrepreneurs. In the event where the financial grant is not enough to cover all expenses or in the unlikely case that other indirect costs exceed the set amount (e.g. company related expenses, insurance, social security etc.), the new entrepreneur must find other sources to cover such expenses.

Do new entrepreneurs benefit from financial assistance during the stay abroad?

Financial support to new entrepreneurs contributes to travel costs to and from the country of the stay and covers subsistence costs (in particular in terms of accommodation) during the visit. The details of the financial support are subject to an agreement between the new entrepreneur and his/her intermediary organisation and reflect the overall living costs of the country of the stay. Indeed, the amount of financial assistance is determined by the country where the new entrepreneur plans to undertake his exchange. As a new entrepreneur, you must provide proof of expenditure to your intermediary organisation paying the financial support. If the expenditure proves to be lower than the initial amount of financial support provided, the paying intermediary organisation is entitled to claim back the excess.

How can I find a host entrepreneur?

Once successfully accepted in the programme, all participants are listed in an online catalogue. Approved new and experienced entrepreneurs can search the programme's database for appropriate partners and make suggestions to their intermediary organisation.

Can I participate in the programme if my business exceeds 3 years of existence during my stay abroad?

Yes, entrepreneurs may apply as new entrepreneurs providing their business is younger than three years when registering for the programme.

What is a business plan?

A business plan is a document that summarises the operational and financial objectives of one's business, with detailed schemes and budgets to achieve the business start-up. New entrepreneurs can choose the format they like and if they encounter any difficulty, they can contact their intermediary organisation for a more information and advice.

The business plan should contain:

A description of the product or services on offer;

A market analysis including a definition of the target market and a competitor analysis;

A financial plan including a break even analysis.

In which language should I provide my business plan?

Candidates are requested to submit a full business plan and a summary of the business plan.

Your full business plan is a confidential document that will only be read by the intermediary organisation of your choice assessing your application. It should be submitted in a language that your intermediary organisation understands. It must equally be made available to the European Commission upon request.

The summary of your business plan should be submitted in English. Entrepreneurs and their intermediary organisations will be able to access your profile and summary of your business plan on the online database.

In which language should I submit my CV?

Entrepreneurs' CV can be submitted in any European language. However, English is generally understood by most users of the online IT tool, which may offer more matching opportunities.

How do I find about intermediary organisations?

Entrepreneurs wishing to participate in the programme must choose one intermediary organisation officially appointed by the European Commission, which will act as a guide and contact throughout the application process and exchange. The intermediary organisation should be active in the entrepreneur's country or region of origin. A complete list of the intermediary organisations involved in the Erasmus for Young Entrepreneurs programme is available in the section "Your local contact point".

How is my application assessed?

The intermediary organisations, who act as local contact points, are responsible for assessing new and host entrepreneurs' applications as well as matching potential entrepreneurs together for the exchange. Once these relationships have been accepted by the entrepreneurs and their intermediary organisations, they will be put forward to the European Commission for a final approval.

The selection procedure is as follows:

New and host entrepreneurs complete the online registration form. The entrepreneurs must equally choose an intermediary organisation in their country of residence to submit their application.

The intermediary organisations assess the applications according to the programme assessment criteria and either accept the applications or put them on hold, if further information is needed. Unsuccessful applications will be refused.

Once accepted, entrepreneurs will be able to access the online catalogue to search for a potential business partner, with whom to start an exchange. A User Manual will be available for the accepted entrepreneurs, in order to help them through the matchmaking process.

The selection process can take up to 15 working days, but may take longer if applications are incomplete. To avoid waiting, we recommend entrepreneurs to read the Registration Guides for host and new entrepreneurs and Users' Guide, which contain all relevant information for the programme.

HOST ENTREPRENEUR

How many years experience must I have to be a host entrepreneur?

A host entrepreneur is a successful and experienced entrepreneur, with a minimum of three years' experience in his/her own business.

Can I participate in the programme if I run a registered association?

According to the European definition of a small and medium-sized enterprise (SME), an association is considered a SME providing it meets the following criteria:

the association must be regularly engaged in an economic activity;

the association employs fewer than 250 employees;

the annual turnover does not exceed 50 million euro, or an annual balance sheet which does not exceed 43 million euro.

Please note that training activities are considered economic (even if they are not commercial). Therefore, training organisations and centres are eligible to participate in the programme.

Can I participate in the programme if I run a franchise?

Following the European Union definition of small and medium-sized enterprise, entrepreneurs running a franchise can participate in the programme. However, an exchange between two franchisors of the same company is strictly forbidden.

What is the definition of permanent residence?

'Permanent residence' is defined as:

The place where the company of the applicant is registered, if the applicant has a registered company;

If a company has several establishments in different EU Member States or other participating countries, the entrepreneur should choose one of the countries as permanent residence;

The place where the applicant has spent 183 days or more in the course of the last 12 months, if the applicant does not have a registered company.

In which language should I submit my CV?

Entrepreneurs' CV can be submitted in any European language. However, English is generally understood by most users of the online IT tool, which may offer more matching opportunities.

How do I find about intermediary organisations?

Entrepreneurs wishing to participate in the programme must choose one intermediary organisation officially appointed by the European Commission, which will act as a guide and contact throughout the application process and exchange. The intermediary organisation should be active in the entrepreneur's country or region of origin. A complete list of the intermediary organisations involved in the Erasmus for Young Entrepreneurs programme is available in the section "Your local contact point". There are currently no intermediary organisations in Czech Republic and Luxembourg. Entrepreneurs from these countries can choose an intermediary organisation in the European country located the closest to their country of residence.

Is there a minimum age requirement to participate in the programme?

No, there are no age specifications to participate in the programme. However, other eligibility requirements for new and host entrepreneurs - for example, educational background, business experience, firm business start-up plan- make it very difficult for individuals below the age of 18 to participate in the programme.

How is my application assessed?

The intermediary organisations, who act as local contact points, are responsible for assessing new and host entrepreneurs' applications as well as matching potential entrepreneurs together for the exchange. Once these relationships have been accepted by the entrepreneurs and their intermediary organisations, they will be put forward to the European Commission for a final approval.

The selection procedure is as follows:

New and host entrepreneurs complete the online registration form. The entrepreneurs must equally choose an intermediary organisation in their country of residence to submit their application.

The intermediary organisations assess the applications according to the programme assessment criteria and either accept the applications or put them on hold, if further information is needed. Unsuccessful applications will be refused.

Once accepted, entrepreneurs will be able to access the online catalogue to search for a potential business partner, with whom to start an exchange. A User Manual will be available for the accepted entrepreneurs, in order to help them through the matchmaking process.

The selection process can take up to 15 working days, but may take longer if applications are incomplete. To avoid waiting, we recommend entrepreneurs to read the Registration Guides for host and new entrepreneurs and Users' Guide, which contain all relevant information for the programme.