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Financing SMEs in the EU – overview

FINANCING SMALL AND MEDIUM ENTERPRISES


IN THE EUROPEAN UNION

SME UNION of the EPP


22 Rue de Pascale, 1040 Brussels
www.sme-union.org
sme@sme-union.org

By
Krisztina Jekkel
Project Manager

Brussels, November 2006

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

Content

Foreword ......................................................................................................... 4.
Userguide: Different types of financial means for SMEs ............................ 5.
European Commission................................................................................... 6.
Competitiveness and Innovation Framework Program ................................ 6.
The Seventh Framework Program............................................................. 10.
INNOVA..................................................................................................... 12.
LIFE+......................................................................................................... 14.
European Structural Funds........................................................................ 16.
Risk Capital-Venture Capital...................................................................... 19.
Commission Funded Activities and Private Information Networks.......... 23.
European Investment Bank - European Investment Fund ........................ 31.
JASPERS .................................................................................................. 31.
JEREMIE ................................................................................................... 33.
JESSICA ................................................................................................... 35.
Venture Capital.......................................................................................... 37.
Other means of financing SMEs in the member states ............................. 41.
Austria ....................................................................................................... 41.
Belgium ..................................................................................................... 47.
Bulgaria ..................................................................................................... 52.
Cyprus ....................................................................................................... 56.
Czech Republic ......................................................................................... 59.
Denmark .................................................................................................... 63.
Estonia ...................................................................................................... 72.
Finland....................................................................................................... 73.
France ....................................................................................................... 79.
Germany.................................................................................................... 85.
Greece....................................................................................................... 90.
Hungary ..................................................................................................... 94.

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Content
Ireland ..................................................................................................... 100.
Italy.......................................................................................................... 104.
Latvia....................................................................................................... 107.
Lithuania .................................................................................................. 108.
Luxemburg .............................................................................................. 110.
Malta........................................................................................................ 113.
Netherlands ............................................................................................. 114.
Poland ..................................................................................................... 118.
Portugal ................................................................................................... 119.
Romania .................................................................................................. 121.
Slovakia ................................................................................................... 130.
Slovenia................................................................................................... 132.
Spain ....................................................................................................... 136.
Sweden ................................................................................................... 140.
United Kingdom ....................................................................................... 144.
EBRD............................................................................................................ 146.
National banks......................................................................................... 149.
Bulgaria .............................................................................................. 149.
Czech Republic .................................................................................. 155.
Estonia ............................................................................................... 160.
Hungary.............................................................................................. 163.
Latvia ................................................................................................. 167.
Lithuania............................................................................................. 170.
Poland ................................................................................................ 173.
Romania............................................................................................. 180.
Slovak Republic ................................................................................. 188.
Slovenia ............................................................................................. 193.
Regional and sectoral equity financing investments ................................ 197.

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Financing SMEs in the EU – overview

Foreword
At a time when Small and Medium Enterprises are the key drivers of the
European Economy, and their specific support is still not completely fulfilled by
the European institutions, this document provides help for SMEs in order to find a
way to finance their objectives. Improving the access to funds, loans and venture
capital is vital in developing entrepreuneurship, competition, innovation and
growth in Europe. Additionally many European small and medium enterprises
have to face difficulties while accessing the financial means of supporting their
projects. Not only the adaptation to the constantly changing financial environment
but the complexity and extent of financial reporting impede obtaining adequate
and sufficient capital to produce and further extend their activities. This document
helps to find the best financial solution for the SME’s projects.

Such an overview can never be fully completed. Because of obvious reasons, it


is not possible to contact all of the regional banks, national programs and private
financial institutions. In the first part of the report we tried to give some overall
view how small and medium enterprises can obtain financial means from the
different type of institutions.

Further we tried to collect all the European programs provided by the European
Commission (EC), European Investment Bank (EIB) and European Investment
Fund (EIF) that can provide capital for the small and medium enterprises. Some
of the programs listed do not provide direct funding for SMEs such as the
Competitivenes and Innovation Program (CIP), but they are co-funders for
national programs. Some other programs have very stringent requirements or
only addressed to organisers of national initiatives of which SMEs could benefit
indirectly.

Moving towards the national level we listed governmental organisations,


chambers, SME advisory services, business information centres, financial
institutions, intermediaries for SME support and contact points for sales, export-
import, cooperation and joint-ventures. We provided also the EBRD regional and
national programs mainly in the new member states of the European Union.

Finally we would like to stress that our aim was not to give a complete description
about all financial services in the European Union. We rather wanted to give
contact points of possible programs, institutions where SMEs individually can
turn in case of financial needs. I want to express my special gratitude to my
colleague Krisztina Jekkel, who compiled all this important information during
weeks of research. Hopefully this report will be a helpful guide for European
small and medium enterprises.

Patrick Voller
Secretary General
SME UNION of the EPP

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Financing SMEs in the EU – overview

Userguide: Different types of financial means for SMEs

Let us examine the main sources of institutional funding for small and medium
enterprises. According to a Eurobarometer survey (September 2005, in the EU
15) 79% of the small and medium enterprises go to a bank in order to obtain
capital.
Credits from banks represent around 70% of the SMEs external financing.
Althoug it is the most popular way of financing many SMEs feel that their access
to bank credit is difficult and sometimes banks credits are even harder to access
than normal loans. Banks require too much information; it takes too much time
and slows down the actual implementation of the project. Terms laid down by the
banks are not enough transparent and very often banks act with mistrust and
protecting their own interests. From the other side, banks are often complaining
that SMEs do not have strategic plan for long term loan, their equity capital is too
small to sustain a serious risk, and they do not manage to present their project
properly.
Renting and leasing is the most common in Germany, Austria and Sweden but
also 24% of European SMEs get financial means from that. Leasing has gained a
strong foothold as a specialised and highly flexible pathway to banking finance.
However leasing is limited to the acquisition of equipment and property
investment. Moreover, funding investment with leasing leaves the business
without additional resources to cover its working capital needs for the operation.
From public finance institutions (most of them listed below) 11% of SMEs get
access to financial instruments. These agencies present themselves as specialist
in financial engineering. However they focus on setting up larger businesses and
then on providing financial and consultancy services for medium enterprises.
Venture capital companies do not give very frequently loans to small
businesses. They prefer medium sized enterprises with a high growth objective
and leading market position as possible target. Moreover they require high cost
analysing the project and most of the enterprises get rejected.
Business angel networks are looking at smaller amounts around 100 000 euro
and can become crucial players in providing capital if the businesses meet their
eligibility criteria. These networks bring together private and company
investors. Additionally they not only provide financial means but also advice and
give other information services for companies. Micro-credits form a major part of
loans to small businesses part. As a result micro credits represent one-third of
credit applications from SMEs. Micro credits can be given by banks or other
financial institutions as well.
Finally there are different programs established by European Union institutions
all together with national agencies in order to finance small and medium
enterprises. First of all European institutions and their programs are listed in this
document; further more the national level institutions are also described that
provide information and capital. Contact details are described under every single
program and institution.

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Financing SMEs in the EU – overview

EUROPEAN COMMISSION PROGRAMS

Competitiveness and Innovation framework Programme (CIP)

The European Commission has adopted a coherent and integrated response to


the objectives of the renewed Lisbon strategy. Running from 2007 to 2013, it
proposes a budget of more than 4 billion euros.The proposal was adopted on 6th
April 2005. The CIP is supposed to become one of the main Community actions
to make economic growth and create more jobs. It will draw together into a
coherent framework specific Community support programmes and relevant parts
of other Community programmes in order to boost European productivity,
innovation capacity and sustainable growth, and to address complementary
environmental concerns. The CIP will be harmonized the relevant actions, and
those conducted by Member States. CIP brings together already existing EU
activities that support competitiveness and innovation. Thus it will be more
transparent and comprehensible for the public, ensuring continuity of the
programmes with a proven and successful track record.

There are three specific programmes run under CIP:


1. Entrepreneurship and Innovation Programme
2. ICT Policy Support Programme
3. Intelligent Energy-Europe Programme

Each of these has its own objectives, benefits its target beneficiaries and
answers to its own stakeholders. Each of them will establish its annual work
programmes, which in turn will be submitted to a specific management
committee composed of CIP participating countries’ authorities.

1. Entrepreneurship and Innovation Programme


This programme brings together those actions that were isolated in the
Multiannual Program for Enterprise and Entrepreneurship (MAP), measure for
Industrial Competitiveness and elements of the LIFE-Environment Programme.
CIP will also build on innovation activities previously developed in Research
Framework Programmes.
It aims to help enterprises innovate by providing access to finance: sharing risks
and reward with private equity investors and providing counter or co-guarantees
to national guarantee schemes.
Through this programme, SMEs will also have simple, clear and efficient access
to the EU – its legislation, programmes and opportunities through the business
support networks.

The conditions for innovation will be improved through better policies based on
exchanges of best practices between member states and evidence (innovation
trendchart, innobarometer, innovation scoreboard) targeted to:
• improving the regulatory environment for enterprise and innovation

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Financing SMEs in the EU – overview

• improving access to finance for SMEs in their start-up and growth phases
and
• helping SMEs navigate the single market, and channel feedback on
businesses concerns to improve EU policy making.

2. ICT Policy Support Programme


ICT Policy Support Programme will use the previous outcome and actions of e-
TEN, Modinis and e-Content parallel to the new strategy 2010-European
Information Society.

The ICT programme will:


• stimulate the new converging markets for electronic networks, media
content and digital technologies
• test solutions to the bottlenecks that delay wide European deployment of
electronic services
• support the modernization of public sector services that will raise
productivity and improve services.

Actions under the ICT-policy support programme will


• underpin regulatory and research actions of the Commission to stimulate
emerging digital economy based on the convergence between network
services, media content and new electronic devices
• provide a bridge between research investment and wide adoption, by
providing a testing ground for pan-European electronic services in both
the public and private sectors
• reinforce European cultural and linguistic identities by support for the
production and distribution of European digital content
• assist the development of an open and inclusive European Information
Society through stimulating innovative approaches to inclusion, quality of
life and public services.

3. Intelligent Energy-Europe Programme


The programme will encourage the wider use of new and renewable energies
and improve energy efficiency. It aims to accelerate actions parallel to the agreed
EU strategy and targets in the field of sustainable energy, enlarge the share of
renewable energy and reduce our final energy consumption.

It includes actions to:


• increase the uptake and demand for energy efficiency
• to promote renewable energy sources and energy diversification, and
• to stimulate the diversification of fuels and energy efficiency in transport.

New actions
• CIP will add a new risk capital instrument (the High Growth and Innovative
Company Facility - “GIF2”) to the existing instrument fostering SME start-
ups. This is aimed specifically at innovative and high growth SMEs, which

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in Europe face a lack of capital at their most crucial growth phase. A


significant proportion of resources will be dedicated to supporting SMEs
developing or using environmental technologies.

• An instrument for securitisation of bank loan portfolios will free up further


SME loan capacity amongst smaller and regional banks, which are the
typical interface for family businesses. This is important to develop the
availability of proximity financing for more traditional small businesses.

• Euro Info Centre and Innovation Relay Centre networks will be


developed to offer one-stop-shops for services in support of business and
innovation. Their role in providing feedback for developing EU policy will
be enhanced, as will their role in improving SME access to EU
programmes in particular the framework programmes for research.

• A scheme to support the cooperation between national and regional


programmes for business innovation (BISS) will increase the opportunities
for SMEs to benefit from creativity, know-how and market opportunities in
other EU Member States, without having to go through the EU
administrative processes. This new scheme will allow tailoring trans-
national programmes to specific regional or sectoral technology and
innovation needs. It aims to give an incentive to regions to support
investment in innovation by enterprises, which is essential for more
competitiveness in a knowledge-based economy.

• The Intelligent Energy Programme will place its emphasis on the mass
replication of new and renewable energy sources and energy efficient
technology, and in the faster implementation of the regulatory framework
in the sustainable energy field.

• In order to help Member States drive forward administrative and


economic reforms, our “open method” policy development tools will be
complemented through twinning activities helping Member States and
regions to learn from examples of good practice.

For further information


European Commission Enterprise & Industry DG
Fax: +32 (0)2 298 88 22
E-mail: entr-general-coordination@cec.eu.int

Euro Info Centers inform, advise, and assist businesses on Community issues.
They also provide feedback to the European Commission about community
matters affecting SMEs. They are well integrated in the local and regional
business environment, while their teams are familiar with European
practices. They constantly contact with the European Commission and get

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access to a business support network comprising of more than 300 centres


across more than 45 countries.

For further information:


http://ec.europa.eu/enterprise/networks/eic/eic.html

Innovation Relay Centre is established in order to support innovation and


transnational technological co-operation in Europe with a range of
specialized business support services. IRC services are primarily targeted at
technology-oriented small and medium-sized enterprises (SMEs), but are also
available to large companies, research institutes, universities, technology centers
and innovation agencies.

For further information:


http://irc.cordis.lu/home.cfm

EraSME will network national and regional programmes promoting co-operation


between SMEs and research organizations from 19 European countries and
regions and interface with programme owner and programme agencies in the
participating member states and regions. EraSME is funded within the ERA-NET
scheme of the 6th European Framework Programme.

For further information:


http://www.era-sme.net/public/

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Financing SMEs in the EU – overview

The Seventh Framework Programme (FP7)

Research and development activities have been supported by the European


Union through the Framework Programmes (FPs) in almost all scientific areas.
FP7 will be launched operationally on January the 1st in 2007 and it expires in
2013. The main purpose of the program, similarly to its predecessors, is to create
the European Research Area and carry out the development of a knowledge
based economy and society in the European Union.The maximum overall
amount for Community financial participation in the EC Seventh Framework
Programme should be more than EUR 50 000 million for the period 2007 - 2013.
For nuclear research and training activities carried out under the Euratom treaty
EUR 2751 million are foreseen for 2007-2011.

Four basic components of European research within the programmes will be


supported in the proposed Seventh Framework Programme:

Cooperation
Whole range of research activities can be supported that are carried out in trans-
national cooperation, from collaborative projects and networks to the coordination
of national research programmes. International cooperation between the EU and
third countries is also integrated part of the program. The action is industry-driven
and divided into four sub-programmes that are the following:
• Collaborative research
• Joint Technology Initiatives
• Coordination of non-Community research programmes
• International Cooperation

Ideas
Dynamism, creativity and excellence of European research is central component
in all scientific and technological fields, including engineering, socio-economic
sciences and the humanities. This action will support new ideas and will be
overseen by a European Research Council

People
The objective is to strengthen quantitatively and qualitatively the human
resources in research and technology in Europe.

Capacities
The point of this action is to prop up research infrastructures, research for the
benefit of SMEs and the research potential of European regions (Regions of
Knowledge) as well as to stimulate the realisation of the full research potential
(Convergence Regions) of the enlarged Union and build an effective and
democratic European Knowledge society.

On the other sides European social, economic, environmental and industrial


challenges also underline the need of research. The overall idea is to contribute

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to sustainable development therefore the following high level themes were


proposed for EU action:
• Health
• Food, agriculture and biotechnology
• Information and communication technology (IST)
• Nanosciences, nanotechnologies, materials, new production technologies
• Energy
• Environment (including climate change)
• Transport
• Socio-economic sciences and the humanities
• Security and Space

In addition, two themes are covered by the Euratom Framework Programme:


• Fusion energy research
• Nuclear fission and radiation protection

The Community financial contribution will cover a maximum of 50% of eligible


costs minus receipts both for research and for demonstration activities. For
SMEs, public bodies, secondary and higher education establishments and non-
profit research organisations, there will be a top up of a maximum of 25% for
research activities. Frontier research actions would be reimbursed at 100% for all
entities. All other activities, including those relating to coordination and support
actions, and actions for the training and career development of researchers,
would be reimbursed at up to 100% for all entities.

For more information: http://cordis.europa.eu/fp7/

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INNOVA

Europe INNOVA is an initiative for innovation professionals supported by the


European Commission under the 6th Framework Programme (continuing under
the 7th Framework Programme). The fundamental objectives of this initiative fall
in line with the policy direction set out within the FP6 priority of "Structuring the
European Research Area". In acting as the focal point for innovation networking
in Europe, Europe INNOVA aspires to inform, assist, mobilise and network the
key stakeholders in the field of entrepreneurial innovation, including firm
managers, policy makers, cluster managers, investors and relevant associations.
Europe INNOVA adopts a sector-based approach that is strategically designed to
identify and analyse the leverages and barriers to innovation within specific
sectors. It is intended that this approach will lead to sound and targeted policy
measures. Furthermore, the sector-based approach will activate cooperation
between business clusters in Europe through the establishment of networks
between clusters that operate in the same or different domains. Through such
cooperation it is envisaged that existing clusters will adopt "outward looking"
approaches by establishing learning platforms for exchanging experiences,
information, good practice and knowledge.
Europe INNOVA builds upon Gate2Growth and PAXIS and further develops the
approach of networking innovation players, by combining analytical expertise
with grass roots experience. Europe INNOVA brings together more than 300
partners from 23 Member States, and is currently composed of the elements
depicted in the diagram.

Financing Networks:
European companies are facing global competition. There is agreement that
financing of innovation will be crucial in preparing for this global market. Whereas
Europe can compete with the most successful regions in the world in terms of
R&D, the situation is not as good when it comes to turning RTD results into
market success. The innovation capability of SMEs in particular strongly depends
on the availability of innovation financing. But European investment markets do
not perform like those in the US and Asian markets.
The main barrier to achieving the Lisbon objectives will be the development of a
much more effective innovation finance system within Europe. There are specific
gaps in the system (such as early stage financing) which can only be addressed
by public-private partnership models. Sectoral situations need to be analysed in
detail in order to identify gaps and develop instruments to overcome the barriers.
Europe INNOVA via its Sectoral Financing Networks brings together a range of
actors from across Europe (enterprises, business associations and incubators,
the financing community, academia and policy makers) to identify the critical
factors involved in obtaining funding and to enable better access to capital for
innovative enterprises. Each network will identify and analyse sector-specific
problems ranging from the drafting of business plans and the preparation of
appropriate IP strategies, to the identification of the most likely sources of
funding.

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This structured sectoral approach will enable gaps and market failures in
innovation financing to be addressed by the development of tailor-cut tools.
Policy recommendations will be formulated to overcome sectoral specific pitfalls
and stimulate the performance of European capital markets in relation to
innovation financing.

For further details look at: www.europe-innova.org

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LIFE+

The first phase of LIFE ran from 1992 to 1995. It coincided with the first time that
EU environmental policy was given a firm Treaty basis, in the Single European
Act, and with the Fifth Environment Action Programme, which was adopted in
1992. This was to set the pace of environmental reform for the next decade and
the LIFE programme was one of its essential tools. Detailed priorities were set
each year. For example, in 1993, the sustainable development and
environmental quality component of LIFE I focused on projects relating to the
textile, tannery, paper and agro-food industries; waste reduction and recycling
demonstration projects; decontamination of polluted sites; sustainable
development in agriculture, transport and tourism; urban transport; and
modernisation of environmental monitoring networks. During its lifetime, LIFE I
funded a total of 731 projects , rising from 105 in 1992 to a high point of 245 in
1994 (in 1995, slightly fewer - 237 projects - were funded).
The first phase of LIFE was succeeded by LIFE II (1996-1999), also running for
four years but with an increased budget of ECU 450 million, covering an enlarged
EU During LIFE II, the split of the programme into three categories - LIFE-Nature,
LIFE-Environment and LIFE-Third countries - was completed. The third phase of
the LIFE, called LIFE III programme ran for a five year period (2000-2004),
though it was implemented in four rounds due to late adoption of the legal base.
Its budget was increased to EUR 640 million. Later it was extended until 2006.
The proposal for an extension of the programme was based on the positive
assessment reached in a mid-term evaluation report. Specifically, the report
examined the role of the LIFE programme in implementation and development of
European environmental policy and legislation, and the actual management of
the LIFE III.
The new phase of LIFE, known as LIFE+, for the period 2007-2013 was currently
accepted. Life+ also means grants for innovating environment projects that
contribute to strengthening the EU environmental policy. Altogether with SMEs;
research centers, local and regional authorities, federations, unions,
administrations of states, agencies, chambers, universities and associations can
apply for funding. The principles of the proposed programme have been agreed
though final approval on the budget can only take place in the context of
agreement on the overall EU budget.
LiFE+ will focus on three components:

1. LIFE+ Nature and Biodiversity


This strand of LIFE+ will contribute to the implementation of Community
policy and legislation on nature and biodiversity, with particular reference
to the Birds and Habitats Directives, and will support further development
of the Natura 2000 network. This strand will also work to build up a
knowledge base for evaluating Community nature and biodiversity policy,
and will support development of monitoring tools in this respect, as well as
working for better environmental governance, and broadening stakeholder
involvement.

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2. LIFE+ Environment Policy and Governance


This strand of LIFE+ will support innovative policy approaches, with a
special focus on climate change, environment and health and quality of
life, and natural resource use and waste.
3. LIFE+ Information and Communication
This strand of LIFE+ will disseminate information and raise awareness on
environmental issues, including forest fire prevention, and will support
accompaning measures, such as information campaigns, conferences,
publications and training.

The major change in LIFE+ compared to LIFE is that the new programme will be
decentralised with around 80 percent of the budget allocated to the EU Member
States for financing projects and measures through national programmes.
Finance will be allocated to Member States depending on their population,
population density, number of Sites of Community Interest (SCIs) and number of
SCIs relative to the EU total. Weightings will be attached to all of these factors to
ensure a fair dispersal of funds and several corrective measures will apply.
Member States will distribute funds according to national annual working
programmes, which they will develop in consultation with the European
Commission. These programmes will be in accordance with EU added value
criteria: they should support the objectives, show Community value and
represent value for money. There will be two multi-annual programming periods:
2007 to 2010 and 2011 to 2013.

For more information look at: http://ec.europa.eu/environment/life/life

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Financing SMEs in the EU – overview

European Structural Funds

Cohesion policy, supported by the Structural Funds, increasingly focuses on


knowledge, research and innovation. Where regions, Member States and the
Commission foster development within a bottom-up approach, based on
partnership and shared management, it has proven to be a strong instrument
resulting in increased growth and job creation. A strong effort has already been
made in the present programming period (2000-2006); spending on research and
innovation amounts to 7.4% of the total European Regional Development Fund
for less developed regions (EUR 7.5 billion) and 11% for regions under economic
restructuring (EUR 2.4 billion). The Commission has proposed that Member
States significantly increase expenditure in this area in the next programming
period. Similar efforts are being made with the European Social Fund.
This approach is reflected in the Commission’s draft Strategic Guidelines for
Cohesion Policy, which expect the Structural Funds to fully back the
implementation of the Partnership for Growth and Jobs. A broad range of
research and innovation related actions may be funded, such as regional and
transregional clusters, poles of excellence, technology transfer, business support
services and actions to develop human capital and to help workers and
enterprises anticipate and adapt to economic change. Regions and Member
States can use the Structural Funds in a flexible manner to help meet their
specific needs and exploit the synergies with FP7 and CIP.
Innovative actions will also be co-financed by European Agricultural Fund for
Rural Development to develop new high quality and value added products and to
promote the sustainable use of natural resources. The Commission will, through
the strategic guidelines and its interactions with Member States and regions,
promote the use of Structural Funds and Rural Fund to improve knowledge and
innovation for growth.
Member States are invited to take full advantage of the Structural Funds and the
European Agricultural Fund for Rural Development to strengthen and build strong
research and innovation systems.

For more information: http://ec.europa.eu/regional_policy

Structural Funds are designed to help reduce disparities in the development of


regions, and to promote economic and social cohesion within the European
Union. The European Commission therefore co-finances regional projects in the
Member States. Nevertheless, it is important to stress the fact that direct aid to
SMEs to co-finance their investments is only possible in the economically less
developed regions (the co-called “convergence” regions). In other regions,
priority has been given to actions having a high leverage effect (e.g.
entrepreneurship training, support services, business incubators, technology
transfer mechanisms, networking, etc.), as opposed to direct aid to individual
SMEs.

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• European Regional Development Fund


For the period 2007-2013 the strategy and resources of cohesion policy are
grouped into three priority objectives, with a total allocation of € 336 billion:
Convergence: speed up the economic convergence of the less developed
regions (78.54% of the budget);
Regional competitiveness and employment: strengthen regional
competitiveness and attractiveness and help workers and companies to adapt
themselves to economic changes (17.22% of the budget);
European territorial co-operation: strengthen cross-border, transnational and
interregional co-operation (3.94% of the budget).

Further details: http://ec.europa.eu/regional_policy/funds/2007/index_fr.htm


The web site of the Directorate-General for Regional Policy provides
information on the European Union's action in support of regional
development:
http://ec.europa.eu/regional_policy/index_en.htm
This includes:
a list of the managing authorities of structural funds in every region:
http://ec.europa.eu/regional_policy/manage/authority/authority_en.cfm and
http://ec.europa.eu/regional_policy/country/prordn/index_en.cfm

• European Social Fund


For the period 2007-2013, the European Social Fund provides support for
anticipating and managing economic and social change, with a number of
opportunities for supporting SMEs. The four key areas for action under the
“Regional competitiveness and employment” objective are:
o increasing adaptability of workers and enterprises;
o enhancing access to employment and participation in the labour
market;
o reinforcing social inclusion by combating discrimination and
facilitating access to the labour market for disadvantaged people;
o promoting partnership for reform in the fields of employment and
inclusion.
In the least prosperous regions, the Fund concentrates on promoting
structural adjustment, growth and job creation. To this end, under the
“Convergence” objective, the ESF also supports:
o efforts to expand and improve investment in human capital, in
particular by improving education and training systems;
o actions aimed at developing institutional capacity and the efficiency
of public administrations, at national, regional and local level.

Further details:
http://ec.europa.eu/employment_social/esf2000/2007-2013_en.html

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Financing SMEs in the EU – overview

• Rural Development Fund


The Rural Development Fund for the period 2007-2013 focuses on three
thematic axes: improving competitiveness for farming and forestry;
environment and countryside; improving quality of life and diversification of
the rural economy. A fourth axis also introduces possibilities for locally based
bottom-up approaches to rural development.
For each set of priorities, Member States prepare national rural development
strategies on the basis of the following six community strategic guidelines:
1. improving the competitiveness of the agricultural and forestry sectors;
2. improving the environment and the countryside;
3. improving the quality of life in rural areas and encouraging diversification;
4. building Local Capacity for Employment and Diversification;
5. translating priorities into programmes;
6. complementarity between Community Instruments.

Further details: http://ec.europa.eu/agriculture/rurdev/index_en.htm

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Financing SMEs in the EU – overview

Risk Capital – Venture Capital


Risk capital or venture capital is an equity investment and typically involves
higher risk potentially rewarded by higher returns. It is often used by innovative
growth-oriented firms that often require large amount of financing in order to
invert in R&D, marketing and training. Venture Capital investment were 10,8
billion euros in the European Union in 2004 versus 16,5 billion euros in the
United States of America. The current obstacles for obtaining risk capitals in the
EU are the lack of early-stage private investors, the fragmentation of the markets
in Europe, the lack of entrepreneurial spirit and the lack of investment readiness
of entrepreneurs.

The European Commission seeks to enhance the functioning of a single


European financial market. Between 2001-2006 financial instruments were
developed in the framework of the MAP programme with a budget of 500 million
euros. Under the Competitiveness and Innovation Programme (CIP), the budget
has increased to 1,1 billion euros for the period 2007-2013.

The financial instruments cover SMEs’ different needs according to the stage in
their life-cycle:
1. High Growth and Innovative SME Facility (GIF) provides equity to
venture capital funds for seed and early-stage investments in SMEs to
reduce the gap in early-stage investment by investing in venture capital
funds.
2. Debt and hybrid instruments: SME Guarantee Facility provides co-and
counter-guarantees to guarantee schemes. These schemes stimulate
the supply of loans to SMEs by credit institutions. It also provides direct
guarantees to these institutions under four guarantee windows: loans,
microloans, quasi-equity and equity and SME securitisation (more info,
see below)
3. Capacity building: The Seed Capital Action – that finishes in 2006 –
supports the recruitment of specialised staff by seed capital funds and the
Partnership Action will support bank lending, notably in new Member
States.

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Financing SMEs in the EU – overview

COMMISSION

BEFORE AFTER
Period: 2000-2006 Period: 2007-2013

MAP CIP

Budget: € 400 million Budget: € +/-1 billion

ETF-Start-ups High Growth and Innovative CIP and EIB risk capital
(€ 170 m) SME Facility (€ +/- 500 m) mandate for the
ƒ VC early-stage investments ƒ VC funds: period 2007-2013 (est.):
− Early stages 10% of the European
− Expansion stages for VC market (base: 2005 early-stage
innovative companies investments EVCA Annual Report).
ƒ Co-investments in side-
funds with business angels

SME Guarantee Facility (€ 340 SME Guarantee Facility (€ +/-


m) 500 m)

Capacity Building Capacity Building


(€ 60 m) (€ +/- 100 m)

1. High Growth and Innovative SME Facility (GIF)


The aim of the GIF is to increase the availability of risk capital to innovative SMEs
during their creation and their early stage development.
The EIF invests in specialised venture capital (VC) funds established
specifically to provide equity or other forms of risk capital to SMEs. The funds
considered under this Facility are small or newly established ones, including funds
operating at regional level, those focusing on specific industries or technologies
and funds that finance the exploitation of R&D results.
Investments are made on equal terms with other equity investors. The GIF
Investment Guidelines specify that investments must represent between 10% and
25% of the total capital of a VC fund or business incubator, or 50% in exceptional
cases such as new funds which are likely to have a particularly strong catalytic role
in the development of VC markets for a specific technology or in a specific region.
Investments can be made up to a maximum amount of EUR 10 million. In

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Financing SMEs in the EU – overview

exceptional, duly substantiated cases the amount committed may be higher, but
will not in any case exceed EUR 15 million.
Following the approval of a VC fund proposal by the Commission, the EIF
signs contractual agreements. Thereafter EIF disburses the amounts committed to
the VC funds in accordance with their investment opportunities and corresponding
financing needs.
According to figures of EVCA (European Private Equity and Venture Capital
Market Association) European early-stage VC market stands at 2 billion euros
today. The expected tripling of the European early-stage VC market to 6 billion
euros by 2013 is based on the following assumptions:

2. SME Guarantee Facility


The Facility provides
- support for higher volumes of guarantees for the existing guarantee
products of the financial intermediaries (FIs),
- access to financing for a larger number of small companies for a wider
variety of investments and guarantees for riskier loans and
- supports the creation and development of new guarantee schemes.
The Facility covers part of the losses incurred under the guarantees up to a pre-
determined amount (the “cap”). It is managed by the European Investment
Fund and other International Financial Institutions on behalf of the EU. The EIF
evaluates and selects potential FIs.
The SME Guarantee Facility applies to companies with up to 100 employees.
The FIs may have stricter SME eligibility criteria depending on their specific
guarantee or loan products. In any case, the origination and risk assessment, with
regard to the final SME beneficiaries, is the full responsibility of the selected
financial intermediaries.
New sub-windows to the Facility (to expand the range of available guarantee
instruments):
Loan guarantees: support enterprises with growth potential and up to 100
employees. Under this window, the EIF issues partial guarantees to cover
portfolios of loans or guarantees. Micro-credit guarantees: support micro-loans
for very small enterprises with up to 10 employees. Under this window, the EIF
issues partial guarantees to cover portfolios of micro loans. Equity Guarantees:
counter- or co-guarantees to guarantee schemes to cover equity investments in
SMEs with fewer than 250 employees (no direct guarantees to VC funds). SME
securitisation: securitisation of SME debt finance portfolios, shall mobilise
additional debt financing for SMEs under appropriate risk-sharing arrangements
with the targeted institutions. Support for those transactions shall be conditional
upon an undertaking by the originating institutions to grant a significant part of the
resulting liquidity of the mobilised capital for new SME lending in a reasonable
period of time
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Financing SMEs in the EU – overview

One Euro invested by the Commission becomes a total of 75 Euro


invested: Leverage effect
Guarantee schemes in general have a very high leverage effect. Loan
guarantees have high leverage as they are often provided in the form of counter-
guarantees to institutions that in turn provide guarantees to other actors such as
intermediaries and banks. Due to the risk-sharing between these various actors,
the leverage is very high:
SME Guarantee Facility – Leverage (gearing)

Table Leverage effect (gearing) achieved at 31.12.2005 with the Community


funds in terms of estimated volume of loans,

Estimated Maximum EIF Leverag


Allocated underlying loan Guarantee e effect
budget volume Amount
(signed) supported
EUR EUR million EUR million
Loan guarantee
window 173.8 12,352.5 3,624.1 75

Micro-credit
window 32.1 259.1 177.6 8.1

Equity guarantee
window 17.3 306.3 89.4 17.7

Total 223.2 12,917.9 3,891.1 60.34

MAP: Leverage effect: CIP: Leverage effect:


ƒ SMEG: 340*70= +/- 24 bn ƒ SMEG: 500*60= +/- 30 bn
ƒ VC fund: 170*5= 0.85 bn ƒ VC fund: 500*5= 2.5 bn
ƒ Total = +/- 25 bn ƒ Total = +/- 32.5 bn (rounded to €
30 bn)
Nb of SME beneficiaries: 250,000
Nb of SME beneficiaries: 400,000

It is expected that, some 400 000 small and medium-sized enterprises


(SMEs) will receive EU support to invest in all forms of innovation and
growth between 2007 and 2013.

For more information about SME Guarantee Facility:


http://www.eif.org/Attachments/productdocs/loans_guarantee_policy_updated_01
.04.pdf

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Financing SMEs in the EU – overview

Commission Funded Activities and Private Information


Networks

1. European Business Angels Network (EBAN)


EBAN was established by the European Association of Development Agencies
(EURADA) with the support of the European Commission in 1999. It is a non-
profit association which has the purpose of:
• Encouraging the exchange of experience among business angels
networks and encouraging "best practice"
• Promoting recognition of business angels networks
• Contributing to working out and carrying out local, regional and national
programs of assistance to the creation and development of a positive
environment for business angels activities

BAN offers its members a comprehensive and varied set of services:


• Exchange of experiences and good practices between network managers;
• Awareness raising in EU and candidate countries on business angel
activity and the benefits of informal venture capital investment;
• Privileged contacts with the EU through its regular dialogue with the
Commission, in particular DG Enterprise;
• Economic intelligence and prospective ;
• European central point on business angel and business angel network
activities in Europe ;
• European visibility for its member associations;
• Organisation of high level events : 1 annual awareness Congress, 1
annual Technical Event, and ad hoc meetings on specific topics;
• A monthly EBAN Flash to keep members up to date with the most recent
evolutions and fresh news on the business angel scene in Europe and
worldwide;
• A bi-annual EBAN Info, a very complete publication reviewing the actuality
of EBAN members and trends in the industry every 6 months;
• An annual Statistics Compendium on the activity of business angel
networks in Europe , keeping track of the number of deals made to
evaluate and promote the impact of informal investments on
entrepreneurship;
• A Yellow Book of the informal venture capital experts that gravitate around
the association and constitute our added value in today's knowledge-
based society;
• Information and the possibility of participating in European projects

For more information visit: http://www.eban.org/


European Directory of Business Angel Network in Europe:
http://www.eban.org/download/Directory%20of%20Networks%202005.pdf

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Financing SMEs in the EU – overview

2. Business Dialogue
This site, created by the European Commission’s Directorate-General for the
Internal Market, is presented as a one-stop shop for business. It contains
information on key issues such as public procurement, technical harmonisation,
and funding opportunities. It also contains the Single Market rules, preparatory
documents, an advice section, fairs and exhibitions world-wide, and a Business
Directory. Contact: www.europa.eu.int/business

3. CORDIS – business incubators


The service aims to provide the interested parties with a single entry point to all
business incubators in Europe, regardless of type (virtual or real-estate),
business sector or location. Its objectives are to:
• assist entrepreneurs with new business ideas find the incubators develop
these ideas into commercially and technically viable products and/or
services;
• facilitate networking among business incubators in Europe, and
• help national, regional and local authorities to access information on more
than 950 business incubators spread throughout Europe today.
Contact: http://cordis.europa.eu/incubators/funding.htm

4. Gate2Growth
Gate2Growth is the pan-European Business Platform for:
• Entrepreneurs seeking financing (Business Matching),
• Investors (InvestorNet),
• Technology Incubator Managers (Incubator Forum),
• Knowledge Transfer Offices (Proton Europe),
• Academia in entrepreneurship, innovation and finance (Academic
Network),
• Innovative companies seeking expert service providers (Service Center)
Contact: www.gate2growth.com

5. International Network for Small and Medium Sized Enterprises (INSME)


The International Network for Small and Medium Sized Enterprises-INSME is a
non profit Association open to international membership. Its mission is to
stimulate transnational cooperation and public and private partnership in the field
of innovation and technology transfer to SMEs. This is justified by the challenges
posed by globalization that force SMEs to strive to be more competitive through
accessing innovation and technology. Policy Makers and Intermediaries play a
crucial role in assisting SMEs in this respect:
ƒ Policy Makers provide support through the creation of innovation policies
and by orienting public funding towards SMEs that need innovation
services;
ƒ Intermediaries provide more ‘hands-on’ support, working directly with
SMEs to resolve their problems.
Given this scenario, INSME’s role is to create a link between these entities so as
to enhance the level of support provided. In doing so, INSME acts as a hub,

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Financing SMEs in the EU – overview

multiplier and disseminator of knowledge, a facilitator for alliances, a promoter of


networking and a catalyzer to encourage North-South and South-South
international cooperation and political dialogue.
INSME was first launched as an informal multistakeolder community gathering
Governmental bodies, International Organizations and NGOs, Intermediaries and
their networks acting in the field of innovation, technology transfer and SME
related issues. In mid-February 2004 the network evolved into an independent
legal entity initially founded by organizations from Italy, Romania, Spain and
Switzerland. Membership in the Association is reserved for the above mentioned
categories. Individual SMEs cannot apply for membership in the INSME
Association, but they remain indirect beneficiaries of its activities.
The Association provides services and facilities to its Members, some of which
are also made available through this portal. Gathering and dissemination of
information are achieved through collaboration and exchange among Members,
which may occur through e-mail contacts, discussion in the dedicated rooms of
the Discussion Group Area of the portal, periodical meetings and conference
calls.
For more information visit: http://www.insme.info/page.asp
For financing programs look at:
http://www.insme.info/page.asp?IDArea=1&page=financings

6. EUREKA
EUREKA is a pan-European network for market-oriented, industrial R&D.
Created as an intergovernmental Initiative in 1985, EUREKA aims to enhance
European competitiveness through its support to businesses, research centers
and universities who carry out pan-European projects to develop innovative
products, processes and services. Through its flexible and decentralized
Network, EUREKA offers project partners rapid access to a wealth of knowledge,
skills and expertise across Europe and facilitates access to national public and
private funding schemes. The internationally recognized EUREKA label adds
value to a project and gives participants a competitive edge in their dealings with
financial, technical and commercial partners. Through a EUREKA project,
partners develop new technologies for which they agree the Intellectual Property
Rights and build partnerships to penetrate new markets. The EUREKA Clusters
play a key role in building European competitiveness, driving European
standards and the interoperability of products in a wide range of sectors. Each
year hundreds of individual projects are initiated by European companies, an
increasing number of which are SMEs. These contribute to improved wellbeing,
security, environment and employment in Europe and beyond.
BUSANET, a European network of Business Angels, signed a partnership
agreement with EUREKA in 2004. This non-profit making organization’s objective
is to develop funding activities and financial toolboxes to support innovation
implementation in Europe.
Each year the EUREKA Lillehammer Award is given to a project that has
demonstrated its outstanding contribution to the environment. The EUREKA Lynx

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Financing SMEs in the EU – overview

Award goes to the SME that has achieved or expects to achieve a significant
increase in turnover as a result of participation in a EUREKA project.
By encouraging and assisting businesses to innovate, the EUREKA Initiative
complements the European Union's Framework Programme in working actively
towards the common European objective of raising investment in R&D to 3% of
GDP by 2010.
For more information look at: http://www.eureka.be/home.do
For financing opportunities look at: http://www.eureka.be/contacts/fundingList.do

7. Trans European Research and Networking and Education Networking


Association (TERENA)
TERENA coordinates and carries out technical activities and provides a platform
for discussion to encourage the development of a high-quality computer
networking infrastructure for the European research community.
For more information look at: www.terena.nl

8. Joint Research Center (JRC)


The mission of the JRC is to provide customer-driven scientific and technical
support for the conception, development, implementation and monitoring of EU
policies. As a service of the European Commission, the JRC functions as a
reference centre of science and technology for the Union. Close to the policy-
making process, it serves the common interest of the Member States, while
being independent of special interests, whether private or national.
Contact: www.jrc.cec.eu.int
European Commission - DG Joint Research Centre
Public Relations Unit, SDME 10/78, B-1049 Brussels
Head of Unit: Ulla ENGELMANN
Tel: +32.2.2957624 Fax: +32.2.2996322
Email: jrc-info@ec.europa.eu
Ispra Sector Head: Ciarán Nicholl
Tel: +39.0332.789180 Fax: +39.0332.785409
Email: jrc-info@ec.europa.eu

9. G8 Pilot Project
The European Union’s Information Network for Small and Medium-sized Enterprises
provides links into Web sites which hold a wealth of information on small and medium
sized enterprises in the European Union. It is part of the G8 Global Marketplace for
SMEs Project.
For more information look at:
http://europa.eu.int/ISPO/ecommerce/g8/eug7sme.htm

10. Elexportal
Elexportal provides up-to-date information for non-specialist entrepreneurs and
business people, in particular for SMEs about legislative and regulatory matters
affecting eCommerce matters across the European Union. Access to this portal
is currently free of charge. It is possible to register to access various on-line

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Financing SMEs in the EU – overview

services (e-mail alerts; submitting contributions for publication on the portal;


accessing the Interactive Forum; and requesting support from the HelpDesk).
www.elexportal.com

11. Information Society


In 2003, presenting the European e-business Showcases - a sample of 22
examples of implementation of e-business in SMEs published under the
eEurope2005 Action Plan - Commissioner Erkki Likkanen observed that
"More than two-thirds of SMEs use the internet as a business tool. Surveys show
the mid-sized enterprises have already closed the gap with large enterprises and
small-and micro-enterprises are catching up rapidly (...) But e-business won’t
compensate for lack of entrepreneurship and the failure to move with market
trends. The challenges are plenty: new levels of interoperability of technology
and business applications with lower costs will enable businesses to switch from
one collaborative network to another. Technology development in broad band
access and 3G mobile communications is emerging as a further driver for new
forms of doing business. "
To make e-business more suitable for SMES, there is a need for:
• Improving their technical and management skills: training and managerial
change are key issues
• Making available appropriate e-business solutions for SMEs
• Addressing the high cost of ownership of ICT equipment
• Addressing security and privacy issues
• Making available SME-specific information on the uses of e-business, to
help them in their investment decisions
Contact: europa.eu.int/information_society/index_en.htm

12. Network of European Financial Institutions for SMEs (NEFI)


The Network of European Financial Institutions for SMEs (NEFI), which was
founded in 1999, consists of 11 financial institutions from 11 member states of
the European Union: ALMI (Sweden), AWS (Austria), Oséo/BDPME (France),
Finnvera (Finland), Hipoteku Banka (Latvia), ICO (Spain), KfW Bankengruppe
(Germany), MCC (Italy), MFB (Hungary), SNCI (Luxembourg) and SZRB
(Slovakia). These institutions share a public mission to facilitate the access to
finance for SMEs by offering them financial services and expertise. This mission
was entrusted to them by the government and the legislation in force in their
respective countries. Other, similar tasks have been assigned to the member
institutions in the fields of the environment and infrastructure, among other
things. All NEFI partners act complementarily to and in co-operation with the
national banking system through co-financing, risk-sharing, expertise and advice
in order to address shortcomings in the SME financial markets.
As a European network of specialised financial institutions, NEFI pursues the
following goals:
• to maintain a permanent and constructive dialogue on SME financing
issues with the European Union institutions or with other SME-related
European associations and federations

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Financing SMEs in the EU – overview

• to provide expertise and advice for the EU and its financial institutions in
the planning and implementation of EU-wide promotional and financing
schemes
• to facilitate the access of SME clients to both European and national
financing schemes.

In the past year NEFI institutions actively supported and financed a total of more
than 117,000 SMEs all over Europe with about € 20 billion of financing in the
form of loans and guarantees.

For more information: www.nefi.be


Members contact: http://www.nefi.be/default.asp?m=5&um=0&lan=1&ar=0
Brussels contact: NEFI 50, rue Wiertz B-1050 Brussels Tel.: +32 2 287 7600

13. EURADA
EURADA is the Association of Regional Development Agencies is a non
profit-making organisation aiming to promote regional economic development
through dialogue with the European Commission services, interchange of good
practice among members, transnational co-operation among members, regional
development agencies as a concept. EURADA gathers around 150 development
agencies from 25 countries of both the European Union and Central and Eastern
Europe.

Avenue des Arts 12 Bte 7, B-1210 BRUSSELS, BELGIUM


Tel. : 32 2 218 43 13 Fax : 32 2 218 45 83
E-mail : info@eurada.org Internet: www.eurada.org

14. FinNETSME
FinNetSME, the Network for Regional SME Finance, is a project designed to
encourage an intensive exchange between regional public financiers on how to
improve access to finance for Small and Medium Sized Enterprises. FinNetSME
gathers partners from all parts of the EU - from Spain in the West to Lithuania
and Latvia in the East, from Greece in the South to Finland in the North.
FinNetSME will collect and analyse data on regional financing instruments and
contact points as well as on public financing structures, support services and
schemes in the different regions.
FinNetSME addresses the need for an inventory of existing good practices in
regional SME finance by building a platform for public regional financiers. The
aim is to develop common regional tools and strategies promoting SME access
to finance and to bridge the market gap in SME finance by exploiting the given
financial sources in an innovative way. On the practical level, models of regional
SME finance will be elaborated to provide easily available advice on the
development of promotional instruments with EU support. The partners of the
network will accumulate their experience in setting up financial and non-financial
support instruments, co-operation strategies etc. They will develop them into

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Financing SMEs in the EU – overview

templates that can be used in other regions to start corresponding initiatives and
establish similar means.
For more information look at: www.finnetsme.org

15. FlexWork - New Ways of Working in Remote Regions


Flexwork offers Handbook of Flexible Working with advice on how to overcome
the problems faced by small companies, Guides to Flexible Working including
checklists and case studies to guide you and your clients in implementing flexible
working and Management Briefings covering a wide range of flexible working
topics relevant to Regional Development Agencies and regional Internet Service
Providers. Their free publications are aimed to help advisors give practical
guidance to small companies on how to adopt new ways of flexible working.
Publications are intended primarily for advisors of small business.
They can also help Regional Development bodies and regional Internet Service
Providers to plan for the introduction of flexible working methods, and for
development of the necessary high speed, flexible telecommunications
infrastructure.
For more information look at: www.flexwork.eu.com

16. International Economic Development Council (IEDC)


The International Economic Development Council (IEDC) is a non-profit
membership organization dedicated to helping economic developers do their job
more effectively and raising the profile of the profession. When we succeed, our
members create more high-quality jobs, develop more vibrant communities, and
generally improve the quality of life in their regions.
For more information look at: http://www.iedconline.org/

17. CULTURE 2007


The programme CULTURE 2007 provides grants to cultural co-operation projects
in all artistic and cultural fields (performing arts, plastic and visual arts, literature,
heritage, cultural history, etc.).
Further details: http://ec.europa.eu/dgs/education_culture/newprog/index_en.html

18. MEDIA 2007


This programme deals with the training of media professionals; the development
of production projects and companies; the distribution and promotion of
cinematographic works and audiovisual programmes and the support for
cinematographic festivals, grants to SMEs which are active in these areas.
Further details: http://ec.europa.eu/comm/avpolicy/media/index_en.html

19. Integrated Action Programme in Lifelong Learning


The Integrated Action Programme in Lifelong Learning for the 2007-2013 period
covers four specific programmes: COMENIUS for general education activities
concerning schools up to the end of the upper secondary level; ERASMUS for
education and advanced training activities at a higher education level;
LEONARDO DA VINCI for all other aspects of vocational education and training;

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Financing SMEs in the EU – overview

and GRUNDTVIG for adult education. The LEONARDO DA VINCI programme is


of most direct relevance to enterprises, since it supports innovative trans-national
initiatives for promoting the knowledge, aptitudes and skills necessary for
successful integration into working life and the full exercise of citizenship.
Further details: http://ec.europa.eu/dgs/education_culture/newprog/index_en.html

20. eContentplus (2005-2008)


eContentplus Programme has a budget of €149 million (2005–08) to tackle
organisational barriers and promote the take-up of leading-edge technical
solutions to improve accessibility and usability of digital material in a multilingual
environment.
The Programme addresses specific market areas where development has been
slow: geographic coverage (as a key constituent of public sector content),
educational content, and cultural, scientific and scholarly content. The
Programme also supports EU-wide co-ordination of collections in libraries,
museums and archives and the preservation of digital collections so as to ensure
availability of cultural, scholarly and scientific assets for future use. More about:
http://europa.eu.int/information_society/activities/econtentplus/index_en.htm

21. Marco Polo II (2007-2013)


The Marco Polo Programme aims to reduce road congestion, to improve the
environmental performance of the freight transport system within the Community
and to enhance intermodality, thereby contributing to an efficient and sustainable
transport system. To achieve this objective, the Programme support actions in
freight transport, logistics and other relevant markets, including motorways of the
sea and traffic avoidance measures. The programme has a budget of €400
million for the period 2007-2013.
Further details: http://ec.europa.eu/transport/marcopolo/index_en.htm

22. Innovation Relay Centres Network


A network of centres in the European Union and beyond, providing local help to
promote technology partnerships and transfer:
The IRCs are innovation support service providers mainly hosted by public
organisations, to facilitate and promote the transfer of innovative technologies
among European SMEs.
The IRC Network is currently composed of 71 IRCs and 236 regional offices in
33 countries.
Find your local IRC Contact Point at: http://irc.cordis.lu/whoswho/home.cfm

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Financing SMEs in the EU – overview

EUROPEAN INVESTMENT BANK – EUROPEAN INVESTMENT FUND

EU Financial Instruments for SMEs


Funding sources
European Commission European Investment Bank
€1.000.000

Operations
European Investment Fund (EIF)
Guarantees Invests

EIF selects its Guarantor


financial intermediaries Guarantees
based on capability,
history and solidity Venture Capital
Bank Fund
Lends Invests

SMEs SMEs
European Commission

JASPERS

The Joint Assistance to Support Projects in European Regions (JASPERS)


is a major joint policy initiative of the EIB, European Commission (Regional
Policy Directorate-General - DG Regio) and the European Bank for
Reconstruction and Development (EBRD).

JASPERS will assist beneficiary countries (principally the new Member States
and acceding countries of the EU) to prepare major infrastructure projects which
will be assisted by the EU Structural and Cohesion Funds over the next
budgetary planning period 2007-2013. All assistance will be offered free of
charge. Assistance may be given to prepare individual projects or horizontal
studies that cover more than one project or more than one country.

JASPERS will:
• be complementary to the project preparation work carried out by national
and local authorities;
• provide upstream technical expertise as required from the early stages of
programming and preparation through to the final decision to grant EU
assistance.
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Financing SMEs in the EU – overview

Key areas for JASPERS include:


• Trans-European networks (TENs)
• The transport sector outside of TENs, including rail, river and sea
transport
• Inter-modal transport systems and their interoperability
• Management of road and air traffic
• Clean urban and public transport
• The environment, including energy efficiency and renewable energy
• Private public partnerships

Contact:
jaspers@eib.org
http://jaspers.europa.eu/

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Financing SMEs in the EU – overview

JEREMIE

The European Commission (Directorate General for Regional Policy), the


European Investment Bank and the European Investment Fund have launched a
joint program in order to facilitate financing SMEs in the framework of European
Regions.
The acronym JEREMIE is for Joint European Resources for Micro and Medium
Enterprises. The program will allow European Member States and Regions to
utilize part of their structural funds to attain a set of financial instruments to
support micro, small and medium enterprises. JEREMIE will make easier the
process whereby EIF will enable the European Member States and Regions to
use the part of ERDF that are allocated to SME access to finance, to obtain a set
of financial products specifically engineered for Micro, Small and Medium
Enterprises.
It will be balanced to other SME finance initiatives at EU level, notably the
Competitiveness and Innovation Framework Program (CIP).
JEREMIE has 3 main financial instruments:
1. Advisory, technical assistance
2. Equity and venture capital
3. Guarantees (for microcredit loans and SME loans)

Under JEREMIE it will be possible to transform part of the grants into financial
products. SMEs will use the financial products and will then reimburse the
amounts - once reimbursed, the funds will be rolled over and used again, instead
of simply granted once. This means that each Euro coming from the budget, the
sum of financing products could range from 2 to 10 euros. The multiplier effect
will mean that the sum of the financing products available will be increased,
bringing potential benefit to a higher number of SMEs than the grant system.

JEREMIE’s financial products will contribute to meet the financial needs of the
SMEs but also improving the supply side by providing a wide range of services
and products to local financial intermediaries such as technical assistance, loan
guarantees, first loss piece guarantees for securitization.

EIF may manage JEREMIE during the financial perspective 2007 to 2013. EIF
role will simplify the administrative process of funds disbursed from ERDF. EIF is
a pan-European SME finance platform with wide geographical coverage and
leads in several market segments (early stage venture capital investor,
microcredit guarantor). EIF will work with the support of EIB. Additional funding
capacity will be brought to JEREMIE by the EIB group, for example through SME
global loans from the EIB. EIF will act as a mediator for all other sources of
finance from other international, national, local financial institutions, investment
funds, micro-credit agencies and other organizations from both the public and
private sector. Funds will be channeled through EIF to local financial institutions
that will in turn provide financing to SMEs. To achieve this EIF will contact and
cooperate with local financial intermediaries such as venture capital funds,

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Financing SMEs in the EU – overview

guarantee schemes, banks and micro finance providers as channels for ERDF
funds to reach SMEs. EIF will not provide any direct financial support to SMEs.

On 1st January 2007, JEREMIE will enter its operational phase.

Eligibility Criteria:
• SMEs have to make investments in fixed assets and long-term working
capital
• Eligible enterprises are SMEs with the maximum of 249 employees, a
maximum annual turnover of EUR 50 million and/or a maximum annual
balance sheet of EUR 43 million
• Preference should be given to small (less than 50 persons; balance
sheet/annual turnover less than EUR 1 million) and micro enterprises (less
than 10 persons; balance sheet/annual turnover less than EUR 2 million)
• Eligible SMEs must have a majority private ownership and control or be in
the final stage of the process of privatization.
• They must not conduct business in the following activities: gambling, real
estate, banking, insurance or financial intermediation and the
manufacture, supply or trade in arms, or activities on EIF’s or EIB’s
exclusion lists.

For more information:


http://www.eif.org/jeremie/
http://ec.europa.eu/regional_policy/events/ifi/documentation.cfm?deploy=0

To request general information on JEREMIE, please send an email to


jeremie@eif.org

For specific requests on JEREMIE, please contact:


European Investment Fund, 43 avenue J.F. Kennedy, L-2968 Luxembourg
Tel.: (352) 42 66 881 Fax: (352) 42 66 88 280

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Financing SMEs in the EU – overview

JESSICA

JESSICA, Joint European Support for Sustainable Investment in City Areas, is an


initiative of the Commission in cooperation with the European Investment Bank
(EIB) and the Council of Europe Development Bank (CEB), in order to promote
sustainable investment, and growth and jobs, in Europe’s urban areas.

How JESSICA works


JESSICA will offer the managing authorities of structural funds programmes the
possibility to take advantage of outside expertise and to have greater access to
loan capital for the purpose of promoting urban development, including loans for
social housing where appropriate. Where a managing authority wishes to
participate under the JESSICA framework, it would contribute resources from the
programme, while the EIB, other international financial institutions, private banks
and investors would contribute additional loan or equity capital as appropriate.
Since projects will not be supported through grants, programme contributions to
urban development funds will be revolving and help to enhance the sustainability
of the investment effort. The programme contributions will be used to finance
loans provided by the urban development funds to the final beneficiaries, backed
by guarantee schemes established by the funds and the participating banks
themselves. No State guarantee for these loans is involved, hence they would
not aggravate public finance and debt.

For two possible approaches, the basic steps leading from the contribution from
the programme to support for a project on the ground are as follows:

(1) Direct relationship with Urban Development Funds


Managing authorities deciding to use the JESSICA framework will launch one or
more calls for expression of interest, addressed to urban development funds
and the resulting submissions would then be appraised in the usual way.
Relevant criteria in this context would include the investments and projects to be
targeted, the terms and conditions under which they would be financed,
ownership and contributions of co-financing partners of the fund, the justification
and intended utilization of the ERDF contribution, the winding up provisions of
the fund, etc.
As a result of the appraisal, a funding agreement would be signed between the
managing or other authority and the selected urban development fund(s),
specifying the terms and conditions, as well as the targeted investments for
allocating resources from operational programmes to them.
Urban development funds will select and support PPPs and other urban projects,
providing them loans, equity or guarantees, but not grants. It would be possible
for a given project to be supported partly by the non-grant urban development
funds, and partly by public grants (including from operational programmes).
Other private banks or investors may also participate. Project promoters could be
public, municipal or private sector enterprises, or joint enterprises involving these
actors in any possible combination between them. The funds will monitor

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Financing SMEs in the EU – overview

implementation of projects by final beneficiaries. They will report to the managing


authorities on their activities (selection of projects, implementation by final
beneficiaries).

(2) Organising JESSICA through Holding Funds


Managing authorities have the possibility to organise financial engineering for
sustainable urban development through the intermediary of holding funds.
Holding funds are those investing in more than one urban development fund,
providing them with equity, loans or guarantees. In such cases, the authorities
will have the option of awarding a grant to the EIB entrusting it with the holding
fund tasks.
A funding agreement would be signed between the Member States or
managing authorities and the holding fund, specifying the terms, conditions,
targeted investments, etc. Holding funds invest in more than one urban
development fund, providing them with equity, loans or guarantees. Urban
development funds are funds investing directly in public-private partnerships
(PPPs) and other projects in the urban context. Projects approved by the funds
for support will be financed only through equity or loans, and not through grants.
It is envisaged that a pre-condition would be that projects would be supported
only in the context of an integrated plan for sustainable urban development.
Urban development funds will be co-managed by professionals of the banking
and private sector, who should contribute financial, technical and managerial
expertise and flexibility to the management of projects co-financed by the
European Regional Development Fund.

For more information visit:


http://ec.europa.eu/regional_policy/funds/2007/jjj/jessica_en.htm

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Financing SMEs in the EU – overview

Venture Capital – European Investment Fund (EIF)

The EIF’s venture capital instruments consist of equity investments in venture


capital funds that support SMEs, particularly those that are in their early stages of
development and those that are technology-oriented.

EIF has significant means available for investment with a current portfolio of in
excess of 2,55 billion euros invested in 191 venture capital funds and an
objective to invest substantially more in the region over the next years.

There are two sources of funding:


• Capital from the EIB Group (EIB and EIF)
• Capital from the European Commission is allocated under two different
programmes: ETF Start-up Facility and Seed Capital Action

For the list of investments:


http://www.eif.org/venture/vinter/

1. EIF and EIB Resources for venture capital

EIB Group (EIB and EIF) resources for venture capital are managed by the EIF
as part of the Amsterdam Special Action Programme and the Innovation 2000
Initiative.

EIF aims to invest in:


• Independent management teams that raise funds from a wide range of
investors in order to provide risk capital to growing Small and Medium-
sized Enterprises.
• Funds targeting early stage companies that are developing or using
advanced technologies in industry or services.

Investment Target
We seek a minority position of between 10 and 35% of the total capital
committed in a fund. The exact size of the EIF’s investment varies according to
the size and characteristics of each fund.

Eligibility Criteria
The EIF requires that its portfolio funds:
• Raise at least EUR 15 million.
• Focus principally their investments in the EU and the Acceding/Accession
Countries.
• Focus primarily their investments on early-stage, development or
expansion capital, preferably in technology-oriented SMEs.
• Target mainly SMEs, defined as businesses with less than 250
employees, with total turnover not exceeding EUR 50 million or a balance
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Financing SMEs in the EU – overview

sheet total not exceeding EUR 43 million, and that are independent (i.e.
not owned by more than a third of their capital by non-SMEs) at the time of
the fund’s first investment. In exceptional cases, a target
of enterprises with more than 250 employees can be considered.
• Be mainly independently and professionally managed, i.e.:
Selection/monitoring by a dedicated management team of professionals
with appropriate experience and skills; Investment/divestment decisions
taken either by the management team and/or by an independent board
whose members are independent from the investors.
• Provide a risk-adjusted return in line with that of the private equity market.
• Be mainly funded by Private sector investors, with the Public sector
investors (including the EIF) not exceeding 50% to total committed capital.

For further information:


http://www.eif.org/venture/eibres/product.asp?prod=87

2. European Commission Resources

A, ETF Start-up
ETF Start-up is intended to adopt a higher risk profile than the EIB Group
operations. It aims to invest in venture capital funds such as:
• seed capital funds
• business incubators
• smaller or newly established funds
• funds operating regionally
• funds focused on specific industries or technologies
• funds financing the exploitation of R&D results (i.e. funds linked to
research centres and science parks)

The investment target for ETF Start-up Facility is a minority position of between
10 and 25% of the total capital committed in a fund or business incubator. A
maximum amount of EUR 10 million will be invested in any single fund/incubator
(15 million in justified cases). Venture capital funds and incubators will need to be
able to support adequate professional management, make a sufficient number of
investments and be in a position to provide follow-up finance. Funds/incubators
will be required to raise at least EUR 10 million, however for justified cases the
ETF Start-up Facility may be available to smaller funds/incubators of EUR 5
million upwards.

Eligibility Criteria:
ETF Start-up will invest in specialized Venture Capital funds and Business
Incubators established specifically to provide equity or, as is the case for
Business Incubators, operational support to SMEs with growth potential at their
establishment and early stages (including seed capital). In particular, ETF Start-
up focuses on funds and incubators that:

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Financing SMEs in the EU – overview

• are commercially oriented and managed by independent teams with


sufficient business experience to demonstrate the necessary capability
and credibility to manage a VC fund/business incubator, although they
need not have prior direct experience of fund/business incubator
management;
• demonstrate a clear strategy, adequate deal flow and appropriate exit
policies;
• have a sufficient size to achieve a critical mass in the segment of the
market that they address;
• maximize private sector participation. Funds/incubators will normally be
expected to obtain an amount of at least 50% of total fund size from
private sources.
Currently, institutions from the Member States of the European Union, the
Accession Countries (includes Bulgaria, Romania, Turkey) and the EFTA
countries of Norway, Iceland, and Liechtenstein are eligible to participate in the
ETF Start-up programme.

For further information:


http://www.eif.org/venture/ecres/product.asp?prod=69
http://www.eif.europa.eu/publications/publication.asp?publ=17

B, Seed Capital Action


The support provided by the Seed Capital Action is aimed at the long-term
recruitment of additional investment managers to increase the number of
qualified personnel and to reinforce the capacity of the venture capital and
incubator industries to cater for investments in seed capital.
The nature of the support provided by the Seed Capital Action is a grant to cover
part of the management costs linked to eligible activities. For each additional
eligible staff member recruited the beneficiary will sign a facility grant agreement.
The maximum amount for each facility grant agreement is EUR 100,000 which is
payable subject to the conditions set out in the Seed Capital Action guidelines.
The maximum grant per beneficiary will not be more than either EUR 300,000 (3
people) or 5% of capital allocated to Seed Capital Investments at the time of
signature of the facility grant agreement. The beneficiary shall not receive a grant
for more than 50% of its overall professional staff.

Eligibility criteria:

Management of seed funds, incubators or similar organisations that include Seed


Capital Investments in their global investment programme.

For the purpose of this Facility, Seed Capital Investment is defined as "Financing
provided to research, assess and develop an initial concept elaborated by a
company that may be in the process of being set up or may have been in
business for a short time but has not sold its product commercially".

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Financing SMEs in the EU – overview

Eligible Beneficiaries
Eligible beneficiaries include venture capital funds, business incubators or any
entities acting as their management companies that carry out an eligible activity.
Currently, institutions from the Member States of the European Union, the
Accession Countries (includes Bulgaria, Romania, Turkey) and the EFTA
countries of Norway, Iceland, and Liechtenstein are eligible to participate in the
Seed Capital Action programme.
Beneficiaries must submit to the EIF an application and sign facility grant
agreements within 2 years of the final closing of the fund, incubator or similar
organization that is eligible under the Seed Capital Action.
A beneficiary whose management costs relating to the eligible activity are
supported by other direct EU or national subsidies is not eligible.

For further information:


http://www.eif.org/venture/ecres/product.asp?prod=70
http://www.eif.europa.eu/publications/publication.asp?publ=16

3. NEOTEC resources – available in SPAIN

This new type of fund-of-funds mandate was launched in 2005 with the Centre
for the Development of Industrial Technology (CDTI: Centro para el Desarrollo
Tecnológico Industrial), a Public Business Entity of the Spanish Ministry of
Industry, Tourism and Commerce.

EIF's investment will represent around 25% of the fund's final target size of some
EUR 200m. First closing was in February 2006 at EUR 175m. The programme is
intended to bring together Spanish public and corporate and banking private
sector investors for investments in Spanish SMEs fostering innovation and
research and development.

Building on similar initiatives in other Member States, notably in France and the
United Kingdom, the CDTI-EIF partnership will leverage EIF resources to ensure
a coordinated approach between EIF, national public bodies and the private
sector. Furthermore, it will give Spanish public and private investors access to
EIF's know-how in fund-of-funds management.
For further information, please contact EIF’s NEOTEC team: eifneotec@eif.org

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Financing SMEs in the EU – overview

Other means of financing SMEs in the member states

Austria

SME Advisory Services and Business Information Centres

1. Federation of Austrian Industry


The IV provides information and advice on financial and tax questions, legal
aspects, research and development, promotion programmes and environmental
protection, education and training and on co-operation.

Federation of Austrian Industry


Haus der Industrie, Schwarzenbergplatz 4, A-1031 Vienna, Austria
Phone: + 43 1 711 35 Fax: + 43 1 711 35 2910 or + 43 1 711 35 2507
E-mail: iv-wien@iv-net.at Website: http://www.voei.at

2. Bureau for International Research and Technology Cooperation (BIT)


BIT is the Austrian centre offering services to participants in European and
international programmes, actions and initiatives for cooperation in research,
technological development and demonstration (RTD). BIT provides information
and assistance relating to a wide range of RTD activities, in particular the
Framework Programme of the EU, EUREKA and INTAS. BIT supports
companies, universities, independent research institutes and other organizations
interested in transnational RTD cooperation. In addition, as the coordinator of the
INNOVATION Relay Centre Austria, BIT is actively involved in the transfer of
new technologies and in other measures supporting innovation.

Phone: +43 (0)5 7755 4011 Fax: +43 (0)5 7755 94011
E-mail: office.bereich4@ffg.at Internet: www.bit.ac.at

3. Institutes for Economic Promotion of the Economic Chambers


The aim of the WIFIs is the improvement of technical and entrepreneurial
qualifications of entrepreneurs and employees. Among others the following
services are provided: training, enterprise related advice and international know-
how transfer.

Institute for Economic Promotion of the Austrian Federal Economic Chamber


Wiedner Hauptstraße 63, A-1045 Vienna, Austria
Phone: + 43 1 501 05 3574Fax: + 43 1 501 05 253
E-mail: wfleit@wk.wifi.at Website: http://www.wifi.at

4. Austrian Institute for Small Business Research


The aim of the IfGH is to develop and make available to SMEs, their consultants
and institutions of economic policy, basic instruments and tools for decision

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Financing SMEs in the EU – overview

making. Among others it offers data bases, sector and business cycle reports
and ratio comparisons.

Austrian Institute for Small Business Research


Gußhausstraße, A-1040, Vienna, Austria
phone: + 43 1 505 97 61 Fax: + 43 1 505 97 61 22
E-mail: ifgh@ifgh.ac.at Website: http://www.ifgh.ac.at

5. Austrian Patent Agency


The Austrian Patent Agency offers access to information about new
developments and the state of the art regarding particular technical problems. It
also provides technical expert opinions on the patentability of technical solutions.

Austrian Patent Agency


Kohlmarkt 8 – 10, A-1014 Vienna, Austria
Phone: + 43 1 534 24 Fax: + 43 1 534 24 110
E-mail: info@patent.bmwa.gv.at Website: http://www.patent.bmwa.gv.at/

6. Austrian Business Agency (ABA)


The ABA informs foreign companies and potential investors about the Austrian
economy. It provides support and advice related to the establishment of business
activities or the acquisition of holdings in Austria.

Austrian Business Agency


Opernring 3, A-1010 Vienna, Austria
Phone: + 43 1 588 58 0 Fax: + 43 1 586 86 59
E-mail: austrian.business@telecom.at Website: http://www.aba.gv.at

Financial Institutions and Intermediaries for SME support

1. Austrian Control Bank


The OKB is the central financing and information service institution for export and
the capital market. It provides instruments for export financing and risk
management in export activities.

Am Hof 4, Strauchgasse 1 – 3, A-1010 Vienna, Austria


Phone: + 43 1 531 27 Fax: + 43 1 531 27 698
E-mail: oeffentlichkeitsarbeit@oekb.co.at, Website: http://www.oekb.co.at

2. BÜRGES Förderungsbank m.b.H.


The BÜRGES Förderungsbank m.b.H. is 100 % owned by the Republic of
Austria. Its obligations include the administration of promotional measures for
SMEs by the Ministry of Economic Affairs. It guarantees loans, provides
subsidies on interest payment or grants for the establishment or expansion of
SMEs.

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Financing SMEs in the EU – overview

Taborstraße 10, 1020 Wien


Tel.: 01/214 75 74-0 Fax DW 45
E-mail: buerges@buerges.com Internet: www.buerges.com

3. FGG - Financing company


The aim of the FGG is the stimulation of investments in Austria. The instruments
range from credit and participation guarantees for enterprises and equity funds in
Austria and abroad to the promotion of market studies.

Financial Guarantee Company


Gasometer A / Guglgasse 12, A-1110 Vienna, Austria
Phone: + 43 1 501 75 0 Fax: + 43 1 501 75 360
E-mail: fgg@fgg.at Website: http://www.fgg.at

4. ERP Fund
The fund supports enterprises, especially in the field of manufacturing, mainly by
credits with favourable interests. The central targets are internationalisation,
regional development and the use of innovative technologies.

Renngasse 5, A-1010 Vienna, Austria


Phone: + 43 1 534 64 4000 Fax: + 43 1 534 64 4015
E-mail: k.loeffler@erp-fonds.gv.at Website: http://www.erp-fonds.gv.at

5. Austrian Industrial Research Promotion Fund


The FFF is the most important financing fund for innovative projects in the
economy. It also provides expert assessment of projects and serves as a know-
how transfer institution.

Austrian Industrial Research Promotion Fund


Kärtner Straße 21 – 23, A-1015 Vienna, Austria
Phone: + 43 1 512 45 84 Fax: + 43 1 512 45 84 41
E-mail: mailbox@fff.co.at Website: http://www.fff.co.at

6. Innovation agency
The Innovation Agency supports the implementation of innovative projects. Its
programme comprises, among others, the support of technology oriented start-
ups, an exchange for Business Angels and patent exploitation.

Innovation Agency
Taborstraße 10, A-1020 Vienna, Austria
Phone: + 43 1 216 52 93 Fax: + 43 1 216 52 93 99
E-mail: innov@innovation.co.at Website: http://www.innovation.co.at

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Financing SMEs in the EU – overview

7. Bureau for International Research and Technology Co-operation)


The aim of BIT is the promotion and improvement of access to EU Framework
Programmes and other international research and technology activities and
initiatives. It offers consulting, training and support in the search for partners.

Bureau for International Research and Technology Co-operation


Wiedner Hauptstraße 76, A-1040 Vienna, Austria
Phone: + 43 1 58 11 616 Fax: + 43 1 58 11 616 16
E-mail: bit@bit.ac.at Website: http://www.bit.ac.at

8. Association of Technology Centres Austria


The VTÖ aims at the strengthening of experience and knowledge transfer in the
field of innovations. It provides the following services: support for start-ups,
advice in questions of promotion schemes, technology transfer and organisation
of partnerships.

Association of Technology Centres Austria


Taborstraße 10, 1020 Vienna, Austria
Phone: + 43 1 216 52 93 340 Fax: + 43 1 216 52 93 99
E-mail: info@inna.at Website: http://www.vtoe.inna.at

9. Austrian Cooperative Research (AcR)


AcR is the umbrella organisation of research institutions in the private sector and
assists SMEs in the field of innovation, product development and product
improvement. AcR provides technical opinions, certification, and transfer of
knowledge and technology.

Austrian Cooperative Research


Eschenbachgasse 11, A-1010 Vienna, Austria
Phone: + 43 1 587 36 33 Fax: + 43 1 587 01 92
E-mail: office@acr.at Website: http://www.acr.at

10. Credit Protection Agency of 1870


The KSV provides solvency statements, collection services, representation in
insolvency affairs and various information services.

Credit Protection Agency of 1870


Zelinkagasse 10, 1010, Vienna, Austria
Phone: + 43 1 534 84 Fax: + 43 1 534 84 8206
E-mail: ksv@ksv.at Website: http://www.ksv.at

11. Investkredit Bank AG


Investkredit Bank AG is a specialist bank based in Vienna with offices in Central
Europe which offers its financial services to corporates and real estate partners.
It is one of the three leading corporate financiers in the Austrian market. The new
Bank for Corporates can and wants to take on the function of a main bank for its

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Financing SMEs in the EU – overview

corporate customers. Quality, innovative power and trust are the key success
factors.
In the opinion of its customers, Investkredit has for many years led the field in
"Technical Competence". Investkredit is also an important lender for real estate
projects in Austria and, in particular, in Central and Eastern Europe. The London-
based international financial magazine “Euromoney” presented the “Euromoney
2005 Real Estate Awards” for the first time last year. In the “Commercial
Banking” category Investkredit Bank AG came out best four times: for Overall
Emerging Europe as well as for Romania, Czechia and Hungary.

Investkredit Bank AG
Renngasse 10, A-1013 Vienna
Tel: +43 1 531350 Fax: +43 1 53135983
E-mail: invest@investkredit.at Internet: www.investkredit.at

12. Public Venture Capital Agencies


In Vienna a public agency (KABAG, Kapitalbeteiligungsaktiengesellschaft)
provides venture capital to finance investment for structural change and
innovative activities. A silent partnership lasting from 10 to 20 years is
established. Agencies like this also exist in other states.

A-1030 Wien Ungargasse 64-66/4/Top 501


Tel.: +43/1/712 52 59 Fax: +43/1/712 52 59-28
E-mail: info@kabag.at

13. Credit Guarantee Institutions


Another agency (WKBG, Wiener Kreditbürgschaftsgesellschaft) provides
guarantees for credits by commercial banks. These credits have to be used for
investments into the productive structure (rationalisation, enlargement), R&D,
foundation, take-over or change of place of enterprises. The firm has to pay a fee
to cover administrative costs and as current guarantee fee. Guarantee
organisations on a regional level like this also exist in other states.

A-1030 Wien
Ungargasse 64-66/4/Top 501
Tel.: +43/1/712 52 59 Fax: +43/1/712 52 59-28
E-mail: info@wrkf.at

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Financing SMEs in the EU – overview

Contact points for sales, export-import, cooperation and joint-


ventures

1. Austrian Export Fund


The Austrian Export Fund is a financing institution for small and medium sized
enterprises engaged in exporting. It supports exports as well as projects
concerning the opening up of new markets by SMEs.

Austrian Export Fund


Neulinggasse 29, A-1030 Vienna, Austria
Phone.: + 43 1 712 61 51 Fax: + 43 1 712 61 51 30
E-mail: exportfonds@exportfonds.at Website: http://www.exportfonds.at

2. Economic Chambers
The Economic Chambers are representing the interests of the business
community. They provide a wide range of services in the field of taxation,
continuing professional training, foreign trade, marketing and legal affairs.

Austrian Federal Economic Chamber


Wiedner Hauptstraße 63, A-1045 Vienna, Austria
Phone: + 43 1 501 05 0 Fax: + 43 1 501 05 250
E-mail: callcenter@wko.at Website: http://www.wko.at

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Belgium

Financial Institutions and Intermediaries for SME support

1. Bourse de prÉactivitÉ (Enterprise Feasibility Grants)


In 2001, the Wallonia Region set up a special enterprise feasibility grant
mechanism (bourse de préactivité). The purpose of this scheme is to enable
business entrepreneurs seeking to develop their project in Wallonia to finance
their initial project setup costs (project evaluation and setup, travel, consulting,
intellectual property, documentation, equipment required to set up project etc.).
The grant is set at a maximum of 12,394.68 euros (or 15,493.34 euros fully
financed if the recipient stops working in order to concentrate exclusively on his
business plan). A supplementary grant is also possible.

2. The Fonds de Capital d'Amorçage (FCA)


The Fonds de Capital d’ Amorçage (FCA) seed capital fund specialises in the
financing of companies at the start-up or expansion stage. Finance (up to a
maximum of 125,000 euros) is provided in three main forms:
• Majority or temporary equity stakes (risk capital or venture capital)
• Unsecured loans at preferential rates
• Subordinated loans

Laurent Faille (071/27.03.82 - lfaille@heracles.be)


Philippe Chèvremont (071/27.03.11 - phchevremont@heracles.be)
Internet: http://www.heracles.be/fr_fca2.php

3. Fonds de participation (Social cohesion FUND)


The Fonds de participation is a public federal financial institution that supports
and promotes the entrepreneurial spirit by following a two-stranded socio-
economic objective:
• To facilitate access to bank loans in the case of self-employed
entrepreneurs, professionals and small companies at the start-up,
expansion or conversion stages,
• To combat unemployment by granting loans to individuals who are
seeking work and want to set up their own business.
The institution intervenes in various different ways:
• Co-financing: Professional loans shared between the bank and the Fonds
de participation,
• Starteo loans: Aimed at self-employed workers or SMEs who are in the
process of setting up or who have been in business for a maximum of 4
years,
• Optimeo loans: Geared towards companies at the expansion stage,
• Micro-finance loans: Micro loans with professional support used for
financing independent job creation,

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• Lancement loans: Start-up loans aimed at individuals who are not in


employment and want to set up their own business,
• Solidaire loans: "Social cohesion " loans aimed at disadvantaged
individuals who want to develop a self-employed business activity,
• Plan jeunes indépendants: Restricted to young self-employed
entrepreneurs under the age of 30 who already have a business plan. Co-
financing of risk capital: A supplementary loan is available to business
angels and entrepreneurs,
• Business Angel+: Innovative companies that are starting up or expanding
through the support of a business angel.

4. WABAN
WABAN is a business angel network or a tool used for sourcing the finance
required to set up or expand innovative companies on the basis of introducing
Business angels to potential entrepreneurs.

Business Innovation Centre "La Maison de l'Entreprise", 242 Chaussée d'Ath


B-7850 Enghien (Belgique)
Alix Housiaux - Coordinatrice WaBAN-Club B2A NPDC
Tel: +32(0)2-397 02 20 Fax: +32(0)2-395 62 12
E-mail: ah@waban-b2a.org Internet: www.waban-b2a.org

5. BAMS
BAMS provides entrepreneurs a methodology for creating attractive business
plans and includes examples of different Shareholder plans.

BAMS sa
Champ Vallée 17C, 1348 Louvain-la-Neuve Belgique
Tel: +32 10 48 50 20 Fax: +32 10 48 50 21
E- mail: mail@bamss.com Internet: www.bamss.com

6. Sowalfin - regional guarantee fund


Within the framework of expanding the business activities of companies in the
SME/VSME sector, the Sowalfin guarantee fund for the Wallonia region can help
with the financing issues facing very small and small- to medium-sized
companies through the granting of subordinated loans as a supplement to
medium-term bank loans. The interest rate applied to subordinated loans is 2
percentage points less than standard bank loans (currently set at 3.75% for a
loan over a period of x years).
Loans requested from the SOWALFIN fund must be used as an investment or as
a means to increasing working capital. The fund can also stand as guarantor for
bank loans granted to companies in the SME/VSME sector. By intervening in this
way, Sowalfin makes it easier for companies in the SME/VSME sector to gain
access to loan finance.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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13, avenue Maurice Destenay, 4000 Liège


Tél. : 04/237.07.70 Fax : 04/237.07.57
Email : info@sowalfin.be Internet: www.sowalfin.be

7. Belgian Venturing Association


The Belgian Venturing Association, BVA, was founded in 1986 as a professional
association. Its mission is to:
• Animate the Belgian private equity and venture capital industry by
deploying a series of activities for its members and for other stakeholders
in the prosperity of the VC/PE sector in Belgium. The objectives of the
main animation activities are:
o to foster active networking amongst members of the BVA and
between members of the BVA and other third parties;
o to provide extensive information to its members on all topics
relevant to the VC/PE industry;
o to improve the quality of the operation of the sector.
• Promote the well being of the Belgian private equity and venture capital
industry towards all relevant third parties. The objectives of the
promotional activities are:
o to pro-actively represent the Belgian VC/PE industry to third parties
as the industry's recognized spokesperson;
o to conduct active lobbying for (i) improvements to or (ii) the removal
of obstacles from the structural context in which the Belgian VC/PE
industry operates;
o to contribute to the continuous development of business in our
industry.

Internet: www.bvassociation.org

Regional organizations

1. Brussels Regional Investment Company


The general missions of Brussels Regional Investment Company is to represent
the regional SMEs and establish official contact for them. This representation
occurs both in a Belgian context and in an international context where each
region of Europe presents its economic policy in an official manner. The
Economics Administration is the official contact and the Inward Investment
Service is the only official region representative to federal and regional
authorities and the EU institutions. It also disseminate economic information
which means it gives general economic information for contacts in Brussels,
Belgium or abroad, from the public or private sector.
The organization also edits publication of promotional documents and brochures
devoted to the regional economy and intended for foreign investors in particular.
They participate in economic events, trade fairs, conferences, trade fairs or
seminars both in Belgium and abroad. Through its activities, this service is in
regular contact with various public organisations (SDRB, Technopole, SRIB, etc.)

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and private organisations (Chamber of Commerce, UEB) and collaborates with


the various services of the AEE.

G.I.M.B.
Stassartstraat, 32, B-1050 Brussel
Tel. +32 2.548.22.11 Fax. +32 2.511.90.74
E-mail: info@gimb.be Internet: www.srib.be

2. Brussels Regional Development Agency - BRDA


The Brussels Regional Development Agency has the role to support economic
development and employment of the Brussels-Capital Region. Its activities
concentrate mainly on in particular of the industrial and scientific parks and the
buildings for companies. Its activities focus mainly on providing business space
for companies’ business surfaces for companies, primarily in business estates
and science parks and other commercial buildings.

Rue Gabrielle Petit 6, 1080 Brussels, Belgium


Tel. +32 2 422 51 11 Fax +32 2 422 51 12
E-mail: info@brda.be Internet: www.sdrb.irisnet.be

3. Regional Investment Company of Wallonia


The S.R.I.W. Group is an institution at the heart of the financial market that
assists entrepreneurs in creating and developing businesses in the Walloon
region. It reflects the effort of Wallonian industry in facing the challenges of the
creation of economic value in the 21st century.
Since its creation in 1979, the Société Régionale d’Investissement de Wallonie
has continuously been expanding its abilities to adapt and anticipate as well as
its flexibility in order to meet the requirements of its partners who are confronted
with the evolution of the world economy.
The principles of good governance, a strong business culture and shared values
at the heart of the Group constitute important assets to capture the changing
realities of the market and progress in a sustainable development perspective.
The sense of responsibility and rigor in matters of management and loyalty forge
the identity and motivate the men and women who work for the Group.
In fact, human capital represents the cornerstone of the building, with its social
and cultural diversity as well as enriched expertise, thanks to a multitude of skills
and potential.
In the spirit of social business responsibility, the Group takes on civil actions and
commits itself to investment programmes with its partners. In doing so, it
contributes to the renewed creation of work opportunities and socio-economic
added value for the Walloon region, which are part of the priorities that define its
shareholders and the government of the Walloon region in particular.
These efforts will be continued to improve global performances by taking the
route that combines economic imperatives, respect for the environment and
social equity.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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S.R.I.W. s.a.
Société Régionale d'Investissement de Wallonie s.a.
13, Avenue Destenay, 4000 Liège, Belgique
Internet: www.sriw.be

4. Regional Investment Company of Flanders


GIMV is the only prominent investment company in Flanders specialised in
private equity i.e. investing in the equity of unlisted companies. Our portfolio is
evenly distributed over start-up companies, strong SMEs and large companies in
both traditional and innovative industries. Because GIMV is also often
represented on the board of these portfolio companies, we can not only ensure
the necessary financial resources, but can also pass on our valuable knowledge
and experience to the management.
Even though GIMV is a Flemish company, it invests in both foreign and domestic
companies. The most important condition is that these companies are willing and
able to grow. GIMV’s policy is to reinvest its profits in companies with healthy
prospects.

Karel Oomsstraat 37, B-2018 Antwerp, Belgium


E-mail: receptie@gimv.be Internet: www.gimv.be

For more innovation links look at:


http://trendchart.cordis.lu/tc_linklist.cfm?CO=2

Contact points for sales, export-import, cooperation and joint-


ventures

Belgian Chamber of Commerce


VBO vzw
Ravensteinstraat 4, 1000 Brussel
Tel: +32 2 515 08 11 Fax: +32 2 515 09 15
Email: info@vbo-feb.be Internet: http://www.vbo-feb.be/

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Bulgaria

SME Advisory Services and Business Information Centres

1. Agency for small and medium-sized enterprises


The Association of small and medium enterprises is a new non-governmental
organization. The terms for membership in the Association are detailed in the
website. Annual membership fees were decided on the first general assembly at
100 BGL for individuals and sole proprietors and 250 BGL for companies.
Membership provides you with access to the commercial section of this site,
where your business can be promoted and includes a subscription to the “Your
Business” magazine - the official media partner of the Association.

Mrs. Irena Petrounova, Executive Director


Triaditsa N 2, BG-1000 Sofia
Phone: (+ 359-2) 988 5065 and 867 2661 Fax: (+ 359-2) 875 440
E-mail: AMSP@BIA-BG.COM Website: http://www.asme.bg/

2. Union for Private Economic Enterprises (UPEE)


Established in December 1989, UPEE has almost 4,000 member companies and
50 regional and branch offices. In 1996, it was recognized as a member of IOE
through the Association of the Organizations of Bulgarian Employers. Since
1993, UPEE has been a member of the European Council for Small Business
(ECSB), and since 1994 a member of the International Council for Small
Business (ICSB). The chair of UPEE's managing council is Borislav Borisov.

Mr. Dantcho Dzikov, Member of SME Agency Board of Directors


Tzarigradsko Shousse Blvd. 47, floor IV. BG-1504 Sofia
Phone: (+ 359-2) 980-8289 Fax: (+ 359-2) 980-8318
http://www.ssi-bg.org/

3. Bulgarian Industrial Association (BIA)


BIA is a voluntary, non-governmental economic union of branch, regional and
other associations, state private and cooperative companies; research
organizations; institutes; banks; etc. It was founded in 1980 and is a successor of
the Union of Industrialists from 1884. BIA conducts financial, economic and
industrial policy providing for adequate environment through:
• raising specialized funds for financial and technical assistance of its
members;
• attracting foreign participation and investments;
• development of small and medium business;
• elaboration of legal acts drafts;
• elaboration of national, regional and branch development programs;
• training of personnel; carries out a number of managers' training
programs;

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• renders information support for a newspaper addressed to managers and


high level company executives.
• privatization; restructuring the economy; internationalization, including join
venture activities; promoting foreign relations and participation in
theInternational Business Organizations.
• distributes information received from the foreign companies and
institutions among the Bulgarian companies.
• carries out foreign representation in Bulgaria and abroad;

Mr. Georgi Shivarov, Member of SME Agency Board of Directors


16-20, Alabin Street BG-1000 Sofia
Phone: (+ 359-2) 980-9916 Website: http://www.bia-bg.com

4. Vuzrazhdane - Bulgarian Union of Private Entrepreneurs


The organization was founded on the 17th of September 2001 in Sofia, as a non-
profit organization created with a mission of "unifying active Bulgarians with
recognized skills in the sphere of business and the economy.

Mr. Ilian Nikolov, Member of SME Agency Board of Directors


122, Nishava Street, floor IV, A BG-1404 Sofia
Phone: (+ 359-2) 590-062
Website: http://www.union-vuzrazdane.com/

5. Bulgarian Small and Medium Enterprises Promotion Agency


The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) is a
government body under the Minister of Economy. It was established with the
amendments of the Law for SMEs in 2004 as a successor of the Bulgarian Trade
Promotion Agency (BTPA) and the Agency for Small and Medium-sized
Enterprises (ASME). BSMEPA has four specialized operational Departments:

• Information Services and Regional Coordination General Department


• Technological Development and Innovations Department
• Pre-accession Projects and Programmes Implementation Department
• Competitiveness and Entrepreneurial Skills Department.

Each of these departments has its own area of expertise and set of activities and
together they elaborate and implement the major functions of the Agency,
namely:

• information and consulting services,


• support to innovative projects and new technologies,
• assistance of Bulgarian companies in growing and entering into the
foreign markets,
• managers training and transfer of experience through the implementation
of international projects.

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1 Sv. Nedelia Sqr., 1000 Sofia, Bulgaria


Phone: +359 2 9805069 Fax: +359 2 9805869
E-mail: office@sme.government.bg

Financial Institutions and Intermediaries for SME support

1. Bulgarian Post Privatisation Fund


This venture capital fund provides new equity capital and management
assistance to private and privatized enterprises in Bulgaria. Its investments range
from €1 million to €6 million

Mr. Tony Diment, Fund Manager


Fritjof Nansen 9 BG-1000 Sofia
Phone: (+ 359-2) 980 8136/9292/8911 Fax: (+ 359-2) 981 5812

2. NACHALA Foundation
Nachala Cooperative is one of the few microfinance institutions in Bulgaria. It is
part of the Opportunity International network. Nachala Cooperative works toward
developing opportunities to establish income generating activities for poor and
disadvantaged groups through the encouragement of small business
development. Its work in Bulgaria is supported by USAID. By providing free
training, consultancy services, and rapid loans, Nachala Cooperative helps the
development of micro and small and medium sized enterprises in Bulgaria and
encourages entrepreneurship.

ул. "Кокиче" № 11, София 1164


Phone: (+359 2) 960831 Fax: (+359 2) 9608342
Email: sofia@nachala.bg Internet: http://www.nachala.bg

Contact points for sales, export-import, cooperation and joint-


ventures

1. Foreign Investment Agency


The Bulgarian Foreign Investment Agency was established in April 1995 as a
one-stop shop institution for foreign investors. It is a governmental body with the
Council of Ministers for co-ordination of the activities of the state institutions in
the field of foreign investments and for promotion of foreign investments in the
country. A key function of the Agency is to assist the companies in the
investment process. It provides to prospective investors up-to-date information
on the investment process in the country, legal advice, identification of suitable
Bulgarian partners, co-ordination of the investment policy with other institutions,
etc. The Agency has a staff of 27 experienced experts, and is headed by a

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President.

31 Aksakov Street, BG-1000 Sofia, Bulgaria


Tel. +359-2-985-5500 Fax: +359-2-980-1320
E-mail: iba@investbg.government.bg Internet: http://investbg.government.bg/

2. Bulgarian Chamber of Commerce and Industry


11-A, Saborna St. Sofia, Bulgaria
Phone: (+ 359-2) 872-631 Fax: (+ 359-2) 873-209
Website: http://www.bcci.bg/

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Cyprus
1. Centre for SMEs – Cyprus Development Bank
The Centre for SMEs is a department of the Cyprus Development Bank
dedicated to supporting Small and Medium Size Enterprises. Since its
establishment, in 1985, it has accumulated extensive knowledge on the different
sectors of the economy, the key players in each sector and general market
intelligence. It is therefore in a position to understand the particular needs of the
small business and its owner entrepreneur. By providing an ideally tailored
package of well-structured financing instruments, the Centre for SMEs acts as a
one-stop shop for small businesses.

Alpha House, 50 Arch. Makarios III Ave., CY-1065 Nicosia,


P.O. Box 21415, CY-1508 Nicosia.
Tel: +357 22846500 Fax: +357 22846600
Internet: http://www.cdb.com.cy/nqcontent.cfm?a_id=469

2. PROMITHEAS Business Information Centre Ltd


PROMITHEAS is a for-profit networked incubator. The vital advantages for the
newly established enterprises developed by PROMITHEAS' incubator are
reflected in the value that is added to them every time they pass from one step of
the incubation phase to the next. Examples of such advantages include: a) the
consolidation of efforts and negotiating abilities with suppliers (reduction of
operating expenses by dispersing resources between Incubatees), b) access to
the network (creation of partnerships and synergies, access to consulting
services and human resources), and c) improving of business dexterity
(encouragement of specialists to undertake business ventures and innovative
activities).

P.O.Box 25672, 1311 Nicosia, Cyprus


33 Klimentos str., 5th Floor, 1061 Nicosia - CYPRUS
Tel: +357 22 452 660 Fax: +357 22 374 096
E-mail: kek@promitheas.com.cy Internet: www.promitheas.com

3. ERMIS Research and Incubator Centre


ERMIS Research and Incubator Centre was established in 2003. The major
benefactor and sponsor of this initiative is A.S. Cyprus College supported by
three additional partners, RTD Talos, the Science and Technology Park of Crete
and Spidernet Services. The mission of ERMIS is contribute to the technological
upgrading of the country’s productive base and encourage and support local and
regional development. This will be accomplished through the realisation of the
following objectives:
• develop the necessary infrastructure and offer appropriate services to
support, nurture and transform innovative ideas into successful business
ventures,

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Financing SMEs in the EU – overview

• encourage spin-offs from research / academic establishments through the


exploitation of research results,
• upgrade existing production units through the utilisation of new
technologies developed at the incubator,
• train and upgrade human resources

Dr Alexandros Michaelides, General Manager


ERMIS Research & Incubator Center
6 Diogenous,ERMIS Building, 1st Floor, Egkomi, Nicosia
Tel: + 357 22559559 Fax: + 357 22559400
e-mail: ermis@ermis.org Internet: www.ermis.org

4. Research Promotion Foundation


Founded in 1996, the Research Promotion Foundation (RPF) was established at
the initiative of the Government of the Republic of Cyprus, to promote the
development of scientific and technological research in Cyprus due to the
fundamental importance of research in contemporary societies.

P O Box 23422, 1683 Nicosia, CYPRUS


Tel: + 357 22 660292 Fax: +357 22 666117
Email: ipe@research.org.cy Internet: www.research.org.cy

5. Guarantees for Loans to Small and Medium Enterprises


The proposed measure aims at encouraging the financing under short
procedures and favourable terms: (a) Of existing enterprises with business
turnover of up to EUR 1,736,000 (CYP 1,000,000) (last year) for the revitalisation
or/and expansion of their activities and more specifically: for the increase of
working capital, for investments in fixed capital, for any other need directly
concerning their enterprises excluding the repayment of already existing loans,
(b) For the establishment of new manufacturing units where the total investment
will not exceed EUR 868,000 (CYP 500,000).
The loans will be granted via the commercial banks or other financial institutions
which will declare in writing their willingness to give credit to their customers
(manufacturing units). A 100% Government guarantee will be afforded to existing
manufacturing units for a sum equivalent to 20% of the units´s turnover for its last
year of operation with the maximum amount being EUR 173,600 (CYP 100,000).
For new manufacturing units the guarantee will be 40% of the total investment
with a maximum amount of EUR 173,600 (CYP 100,000). The rate of interest on
the above Government guaranteed loans will be subsidised by up to two
percentage points provided that this is higher than 5% and for a period not
exeeding 7 years including any grace period.
The measure was introduced in the framework of the New Industrial Policy in
1999.

For more information look at:


http://agrino.org/hightech/newindustrialpolicyengl.htm

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6. State Grants for Upgrading Technology


The aim of this measure is to assist the manufacturing sector by means of public
grants to: (a) Incumbent manufacturing units in order to renew machinery or/and
equipment in order to increase their productivity or/and improve the quality of
their products or/and modernise their management, organisation and control
system. (b) New SME manufacturing units in order to invest in new machinery
or/and equipment.

For more information look at: http://agrino.org/hightech/

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Czech Republic

SME Advisory Services and Business Information Centres

1. Technology Centre
Technology Centre is a consortium of legal entities. The consortium is open also
to legal entitities outside the Academy of Sciences of the Czech Republic.
Main Activities of Technology Centre:
• National Information Centre for European Research
o information and advisory services related to the EU Framework
Programmes
o monitoring Czech participation in international research cooperation
programmes
o coordination and methodical management of the national information
network NINET
• Technology Transfer
o direct cooperation with industrial enterprises and entrepreneurs in
innovating products and technology processes
o innovation audits
o transnational technology transfer and commercialization of RTD results
• Strategic Studies and Projects
o studies for research and innovation policies
o RTD priorities
o foresight
o strategies for a knowledge-based economy
• Regional Development
o regional innovation strategies
o projects for Structural Funds focused on innovation

Rozvojova 135, 165 02 Prague 6, Czech Republic


Tel: +420 2 340 06 100 Fax: +420 2 209 21 217
Internet: www.tc.cz

2. Association of Innovative Enterprising


Association of Innovative Enterprising as a non-governmental organization in the
area of innovative enterprising in the Czech Republic since the Association was
started. It is the Association’s principal know-how as it was established and
further developed within the Association’s practical work at home and with its
partners abroad. The Association has been an initiator and, in cooperation with
its members and partners, the main entity in the System of Innovative
Enterprisingin the Czech Republic and building innovative infrastructure of the
Czech Republic since its early operation.

Novotného lávka 5, Prague 1 Czech Republic

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Tel.: +420-221 082 326 Fax: +420-221 082 329


e-mail address for CSNMT President:
President: Dr. Karel Sperlink (sperlink@aipcr.cz)
Secretary: Dr. Josef Kasl (Josef.kasl@skoda.cz)

3. Euro-Czech Forum (ECF)


The Euro-Czech Forum (ECF) was founded in June 1999 by five chambers of
commerce and industry from European Union member countries.
Nowadays, the Forum represents 80% of all Foreign Direct Investment in the
Czech Republic and creates over 1 200 000 job opportunities in the country.
Following Accession, the Forum's main interest lies in making a stable,
transparent, modern, and safe business environment in the Czech Republic. The
Forum operates in the Czech Republic and utilises the logistics and financial
support of the European Commission, with which ECF co-operates very closely.

Prague 1, U Prasne brany 1079/3, 110 00


Tel: 420 222 320 360
E-mail: Inernet: http://www.ecf.cz/

Financial Institutions and Intermediaries for SME support

1. CzechInvest
CzechInvest is the investment and business development agency of the Czech
Republic whose services and development programmes contribute to attracting
foreign investment and to developing Czech companies. Our mission is to
support investment activities to the highest level of competence not only through
our information service and consultancy but also by linkage with structural funds
of the EU.
CzechInvest provides the following services free-of-charge:
• Comprehensive services for investors - full information assistance,
handling of investment incentives, business property identification,
location of Czech suppliers, aftercare services
• Business infrastructure development
• Access to structural funds

Stepanska 15, Praha 2, 120 00 Czech Republic


tel.: +420 296 342 500 fax: +420 296 342 502
E-mail: info@czechinvest.org Internet: www.czechinvest.org

2. Business Innovation Center


The Technology Centre runs a small high-tech business incubator - Business
Innovation Centre (BIC) Prague, which offers its space preferably to early-stage
knowledge-based businesses (science spin-offs). The companies are offered a
space in the business incubator at subsidized rent (the PHARE programme and

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the programme of the Czech Ministry of Industry and Trade). The package of
provided services includes:
• complex advisory assistance in business development
• marketing services and technology transfer consultancy
• information on the access to European and national financial resources for
R&D projects including assistance in preparation of project proposals
• contacts to financial sources for business development (venture capital,
soft-loans schemes)

Praha Plze ská 221, CZ 15000, Prague 5


Tel: +420 2 558813 Fax: +420 2 524330

Contact points for sales, export-import, cooperation and joint-


ventures

1. Czech - Belgian - Luxenbourg Joint Chamber of Commerce


The Joint-Czech-Belgium-Luxembourg Chamber of Commerce in the Czech
Republic was established in 1998, functioning as a means of providing support
for trade development between Czech, Belgian and Luxembourg firms.
The Chamber started its work in response to growing interest from Belgian and
Luxembourg entrepreneurs in the Czech market. Today around 160 Belgian and
Luxembourg companies operate on the Czech market, and these are particularly
capital joint ventures and company representatives. The Chamber is part of the
Federation of Foreign Belgian Chambers of Commerce operating in the several
of countries. It is also member of the FCCIB Federation of Regional Chambers of
Commerce and Industry in Belgium. Our Chamber cooperates with the Embassy
of Belgium and its Regional Representatives of Flanders, Wallonia and the
capital city of Brussels which on operate in Prague. In Luxembourg, another
partner is the Chamber of Commerce of the Grand Duchy of Luxembourg. In
Prague, it works in cooperation with the Embassy of Grand Duchy of
Luxembourg.

Prague 2, Anglicka 20, 120 00


Tel: 420 261 352 090 Fax: 420 261 352 333
E-mail: cblkomora@nextra.cz or cblkomora@iol.cz Internet: www.cblchamber.cz

2. Czech Association for Business Excellence


The Czech Association for Business Excellence was established as a mirror
organisation of European Foundation for Quality Management (Brussels) in the
year 2000 on the initiative of a few important companies with business activities
on the Czech market in the industry and services areas.
European Foundation for Quality Management was founded more than 10 years
ago by top managers of a few major companies, with the aim of making their
competitive abilities stronger – first of all among industrial corporations. To date

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this foundation has besides the 14 founders about 800 members and more then
150 affiliates. European Foundation for Quality Management in Brussels
(hereinafter referred to as EFQM Brussels) offers to its members the exchange of
experience from the Excellence Model application, develops self-assessment
tools, organizes benchmarking projects, courses and seminars, issues
publications and study materials and organizes the European Quality Award
/EQA/.

Prague 1, Opletalova 41, 110 00


Tel: 420 221 004 233
Internet: http://www.czech-capu.cz/

3. Economic Chamber of the Czech Republic


The Economic Chamber of the Czech Republic is an association of large,
medium and small businesses in regional chambers and trade associations. The
Chamber’s main task is to support the entrepreneurial climate and the
development of trade and it focuses most of its products and services on this
task. A comprehensive range of professional services in all areas relating to
trade, industry and commerce is available to all representatives of the business
community in the Czech Republic.
Czech economic life and for thousands of companies it has become a place
where important services can be found. It meets the needs not only of Czech, but
also of foreign businesses. It is a partner for the support of mutually beneficial
relations and a place where contacts can be made.

Prague 9, Freyova 27
Tel: 420 296 646 111 Fax: 420 296 646 221
E-mail: office@komora.cz Internet: http://www.komora.cz/index.aspx

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Denmark

SME Advisory Services and Business Information Centres

1. Danish Federation of Small and Medium-Sized Enterprises


The Danish Federation of Small and Medium-Sized Enterprises (DFSME) was
founded in 1879 and is today the main trade organisation for small and medium-
sized enterprises in Denmark, representing more than 20,000 companies within
many different sectors such as construction, manufacturing, crafts, retail and
services. The main objective of DFSME is to improve the business conditions of
Danish small and medium-sized enterprises.

Håndværksrådet, Islands Brygge 26


Postbox 1990, 2300 København S
Tel: 3393 2000 Fax: 3332 0174
E-mail: hvr@hvr.dk Internet: www.hvr.dk

2. Danish Technological Institute


In terms of international projects the SME related services of DTI focus on:
• Creating private sector networks and support structures that will enable
private sector enterprises to develop and thus support industrial and social
welfare.
• Development of skills within private sector operators (enterprises and
support organisations) to facilitate private enterprise growth and ensure
state-of-the-art operation of enterprises in developing countries.
• Development of strategic investment schemes and promotion of
investment in order to facilitate the necessary financial backdrop for the
growth of SMEs.
• Building joint technology-business platforms and service systems to
promote the creation and growth of small and medium size enterprises,
particularly within high technology or technology intensive sectors.
• Restructuring technological infrastructures to operate as interfaces
between industry and national as well as international R&D, thus
facilitating business applications, transfer of technologies and, ultimately,
economic growth.
• Upgrading technology and management skills of key managers of
technologically oriented enterprises and business institutions to help them
meet the new requirements of competitive and open economies through
our counselling, training and train-the-trainer activities.
• Reducing the adverse impact from environmentally harmful
production technologies by introducing Cleaner Technologies at
strategically well-placed production sites to maximise the demonstration
and social multiplier effects or by equipping national producer

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associations, institutions of higher education and local authorities with the


required skills to install and employ these processes.

For further information please contact


Ulrik Sørensen Rohde
Phone: +45 72 20 20 97
E-mail: ulrik.rohde@teknologisk.dk Internet: www.teknologisk.dk

3. Dansk Industri (Confederation of Danish Industries)


An organisation that handles industrial policy questions for the Danish Industries
along with settlements between employers and employees. This organisation
offers individualised consultative assistance to member enterprises including
small and medium-sized enterprises. DI is the voice of the Confederation of
Danish Industries - Danish Industry - a strong voice which is listened to. Currently
6,600 companies have chosen to join forces within DI. DI aims to provide the
best working conditions for Danish industry in order to improve the competitive
edge.

Dansk Industri
H.C. Andersens Boulevard 18, DK-1787 København V, Denmark
Tel: + 45 3377 3377 Fax: + 45 3377 3300
E-mail: di@di.dk Website: http://www.di.dk

4. Dansk Handel og Service (Danish Commerce and Services)


Danish Commerce and Services service their members along with small and
medium-sized enterprises within five core areas: political influence, matters
relating to collective agreements, legal advice, education and business
development. Danish Commerce & Services is the leading employers´ and trade
interest organisation for commercial and knowledge-based service enterprises in
Denmark. The organisation has more than 6,000 members and represents
almost 30,000 enterprises in cooperation with a number of trade associations.
In particular, Danish Commerce & Services represents enterprises in the
speciality goods and grocery trades, the wholesale trade, IT, advertising and
communication, business consulting, accountancy, legal services, publishing, the
travel industry, temping and recruitment, the financial sector and private medical
services.
Danish Commerce & Services looks after its members´ interests at both a
national and an international level. At a European level the organisation is a
member of EuroCommerce, while at a global level it belongs to CIETT, the
international confederation of temporary work businesses.

Dansk Handel og service


Vester Farimagsgade 19, Postboks 500, 1506 København V, Denmark
Tel: + 45 3374 6000 Fax + 45 3377 6080
Website: http://www.dhs.dk

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5. TIC Danmark (TIC Denmark)


The Technological Information Center (TIC) offers small and medium-sized
Danish enterprises free independent consultancy about opportunities and tools
for development and growth along with arranging the contact between
organisations, relevant experts and knowledge centres. The 17 TICs
(Technological Information Centres) in Denmark helps small and medium-sized
companies witha free life-cycle review on a selected product.
All the centres have specially trained staff able to advise companies about how to
embark on product-oriented environmental activities.
The life-cycle review is a very simple life-cycle-based environmental assessment,
conducted in a dialogue between the company and the adviser. The review maps
materials and substances in the selected product, energy and chemical
consumption and any other relevant areas, based on readily available data.
TIC assists companies in analysing and interpreting the data collected and in
mapping where in the product’s life cycle the environmental load is greatest. To
follow up the review, TIC helps prepare action plans for how the companies can
continue reducing the environmental load.

TIC Danmark
Ellemarksvej 49, DK-8000 Aarhus C, Denmark
Tel: + 45 8943 8900 or +45 70 15 15 45 Fax: + 45 8943 8909
Website: http://www.tic.dk

6. Erhvervs- og Boligstyrelsen (National Agency for Enterprise and


Construction)
The National Agency for Enterprise and Construction is broadly responsible for
enterprise and construction policy. Our job is to develop a competitive, market-
based growth environment for companies. We accomplish this in cooperation
with the corporate sector, business associations and other public sector actors.
The National Agency for Enterprise and Construction changed its name from The
National Agency for Enterprise and Housing in accordance with ministerial order
in August 2004. Activities associated with urban renewal and social housing were
subsequently transferred to the Ministry of Social Affairs. The purpose of the
organisation is to strengthen innovation and competence development in
businesses, among these small and medium-sized enterprises. This is done by
offering businesses and their consultant advice, service and co-financing.

Dahlerups Parkhus, Langelinie Allé 17, 2100 København Ø, Denmark


Tel: + 45 3546 6000 Fax: + 45 3546 6001
E-mail: ebst@ebst.dk Website: http://www.ebst.dk/

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7. Dansk Iværksætter Forening (Danish Entrepreneurs Association)


The association is a non-political and independent network association based on
membership aiming at inspiring for independence and start, to impart knowledge,
consultation and network along with improving the conditions of the
entrepreneurs.

Dansk Iværksætter Forening


Tobaksgården 3 DK-8700 Horsens Denmark
Tel: + 45 7562 0400 Fax: + 45 7561 3999
Website: http://www.d-i-f.dk/

8. Center for Småvirksomhedsforskning - CESFO (Small Enterprise


Research Centre)
The Centre for Small Business Studies is a research unit focusing on small and
medium sized enterprises (SMEs), which form a substantial part of the Danish
business community. Our research projects centre on organisational problems
and management practices which are particular to and which characterise such
companies. Furthermore, we are working on studies, which investigate the role of
SMEs in relation to the development of society in general, the formation of new
companies and entrepreneurial activity in Denmark.
CESFO's research is built on two strong foundations:
• Firstly, a close interaction between researchers at the University of
Southern Denmark and regional enterprises and consultancies within
Denmark;
• And secondly through active networking in the international research
community.
Our activities are designed to contribute to a continuing development of theory,
whilst simultaneously playing an active role as a knowledge resource in relation
to SMEs in Denmark. This means that research is primarily empirical and will
often involve companies and consultancies in the identification of research
relevant problems.

Syddansk Universitet – Kolding, Engstien 1, DK-6000 Kolding


Tel: + 45 65501356 Fax: + 45 6550 1357
E-mail: cesfo@sam.sdu.dk Web:http://www.sam.sdu.dk/e/depts/cesfo/index.html

9. FORCE Instituttet (FORCE Institute)


The institute is a technological service institute whose area of activity covers
testing and information technology, inspection, testing, control and certification,
production technology, materials and surface technology, quality management,
environmental management and teaching.
FORCE Technology’s customers are paramount whether it concerns counselling
or service of private or public businesses in Denmark and internationally.
They focus on product and concept development, design, production optimisation
and operation and maintenance of industrial facilities within the following areas:
• Optimisation and automation of production and processes

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• Material use, protection and analyses


• Inspection, testing, calibration, verification and certification
• Maritime technology
• Integrity Management
• Utilization and development of sensor technologies
• Optimisation and development of management systems
• Energy and environment.
Their competences are built on a solid foundation with more than 60 years of
experience within innovative development and use of knowledge and technology.
They offer our customers unique competitive advantages through our flexible,
innovative and value added solutions that are based on confidence and close
cooperation, which adds value to both parties.

FORCE Instituttet
Park Allé 345, DK-2605 Brøndby, Denmark
Tel: + 45 4326 7000 Fax: + 45 4326 7011
E-mail: force@force.dk Website:http://www.force.dk/gb/default.htm

10. Innovationscenteret (The Center of Innovation)


The Center of Innovation focuses on new businesses and business development,
transfer of research results for individual utility value, distribution of knowledge
before business establishment and commercial utilisation of research results.
Scion-DTU is Denmark’s largest university-based science park. Whereas many
just talk of the essential alliance between universities and the business
community, Scion-DTU’s integration of research and business life has long been
established.
Joined by 12 kilometres of highway, Scion-DTU’s facilities are situated in
Hørsholm and Lyngby just north of Copenhagen. Within its extensive grounds
Hørsholm offers flexibility and growth potential for both small and large
businesses. Scion-DTU in Lyngby, situated on-campus at the Technical
University of Denmark, offers growth potential within a research-heavy university
environment. Combines Scion-DTU’s comprehensive facilities will support any
phase of a company’s progress.
Scion-DTU provides the most excellent physical environment, service and
support, especially for start-ups. They also offer a nurturing and inspiring
environment for growth across personal and professional boundaries.

Agern Allé 3, DK-2970 Hørsholm, Denmark


Telephone: + 45 4576 5790 Telefax: + 45 4576 5708
E-mail: info@sciondtu.dk Website: http://www.innovation.dk

11. Science Park Aarhus Ltd. (Science Park Aarhus Ltd.)


Science Park Aarhus is the science park in the East Jutland. A science park is a
unique knowledge centre where business and university overlaps. A science park
is a place where new ideas and projects are born and developed into
commercially viable companies.

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Science Park Aarhus and its cooperating partners specialize in assisting newly
established companies with knowledge intensive, high tech and innovative
products in fields such as IT, biotechnology and medico-technical equipment.
Science Park Aarhus supports commercial development and innovation through
a strong focus on networking in the form of informal meetings, contacts and
discussions between like-minded entrepreneurs, scientists and specialists from
many disciplines.
Science Park Aarhus leases offices and laboratory premises for new businesses
that work with research and development.

Science Park Aarhus, Gustav Wieds Vej 10, DK-8000 Aarhus C, Denmark
Telephone: + 45 8620 2000 Fax: + 45 8620 1222
Website: http://www.sp-aarhus.dk

Financial Institutions and Intermediaries for SME support

1. VækstFonden (Business Development Finance)


With a capital base of € 300 million Vaekstfonden is one of the largest Danish VC
players. They offer compelling value propositiond for companies and investors.
Vaekstfonden is a state backed investment company. They provide funding to
fast-growing Danish companies and act as a fund-of-funds investor in the private
equity sector in the Nordic region.
They invest in early stage ventures mainly focusing on Life Science/Med Tech
and High Tech, and provide mezzanine financing to a broad range of industries.
It is part of their strategic objectives to work actively to facilitate access to
international venture capital and drive the development of an internationally
competitive private equity environment in Denmark.
The fund co-finances the costs of small and medium-sized enterprises in
connection with the implementation of risk-filled development projects with a
technological or market-related aim along with research and development of
products.

Langelinie Allé 19, DK-2100 København Ø, Denmark


Telephone: + 45 3529 8600 Fax : + 45 3529 8635
E-mail: vf@vf.dk Website: http://www.vaekstfonden.dk

2. Forskerparken CAT (The Research Park CAT)


CAT is an investor in promising projects and a competent and risk-taking partner
in the realisation of the opportunities that are found in the interaction between
research and the business sector along with new businesses. CAT can:
• Make available seed-capital.
• Facilitate contact to patent offices and can help manage the patent
application process.

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• Provide advice and guidance on how to write an attractive and trustworthy


business plan.
• Facilitate contact to our venture capital partners.
• Take an active role on the board.
• Source and facilitate contact to relevant consultants and advisors.

Postboks 30, DK-4000 Roskilde, Denmark


Telephone: + 45 4677 5919 Fax: + 45 4632 1919
E-mail: Website: http://www.catscience.dk

3. Novi (Novi)
NOVI is a privately owned company. They develop and provide investment
capital and premises for high-tech companies with an international potential.
NOVI integrates venture capital with an innovative environment and leading
science and business park activities. It cooperates closely with research
institutions and see our science and business park as 'production facilities' and
our pre-seed innovation environment as the primary 'production line'. Focusing
on the seed and early stages of a company's life, NOVI A/S's venture capital
represents the subsequent production lines. The main values are commercially
based. It not only acts as a prototype for common venture capital, but rather as a
production company that focuses on producing high-quality products. The key
ideals and values are common sense and good, old-fashioned business acumen.
This – enhanced by cutting-edge knowledge – is also ideal for the companies
that they choose to invest in. Sometimes they refuse to enter into a partnership,
but they always seek to ensure that no one leaves us empty-handed.
Novi leases premises to single enterprises (entrepreneurs, development
projects). Novi moreover offers lecture rooms and conference facilities for use
free of charge to Novi's tenants. They also supply offices and premises meant for
research activities.

Postboks 8330, Niels Jernes vej 10, DK-9220 Aalborg Øst, Denmark
Tel: + 45 9535 4500 Fax: + 45 9635 4599
E-mail: villy.vibholt@catscience.dk Website: http://www.novi.dk

4. København Forskerpark Symbion (Copenhagen Research Park Symbion)


Copenhagen's science park Symbion represents the meeting place of business,
enterprise and university research - an incubator where projects and ideas can
develop into viable businesses.
In Symbion, we are specialised in assisting new established companies working
with knowledge intensive, high-tech or innovation products within the areas of IT,
biotechnology or medico.
Symbion offers companies:
• Offices and laboratories
• Advice and knowledge
• ConferenceCentre
• Capital

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Facts on Symbion Science Park:


• Symbion hosts around 80 innovative start-up companies
• Symbion's primary fields are IT and biotechnology
• In addition to our in-house companies, Symbion's innovation consultants
provide advisory support for around 120 projects and companies every
year
• Symbion Capital has 22 active portfolio companies
• Around 20,000 guests visit the Symbion ConferenceCentre every year
• Symbion Capital I A/S disposes of DKK 300 million for pre-seed
investments
Symbion's Goodwill Ambassador Corps consists of 140 prominent scientists and
business people

Fruebjergvej 3, DK-2100 København Ø, Denmark


Telephone: + 45 3917 9999 Fax: + 45 3927 9900
Website: http://www.symbion.dk

5. Teknologisk Innovation A/S (Teknologisk Innovation A/S)


Teknologisk Innovation helps entrepreneurs from conception to project. The
environment is based on a wide range of experienced and competent forces that
contribute consultancy, sparring and support to new businesses. Technology
Innovation invests capital in innovative business ideas in the seed phase, add
value to the projects and lead them to an attractive exit. Technology Innovation
invests in technology-based ideas with great commercial potential, for instance
energy technology, environment, micro- and nanotechnology, hardware, software
and wireless. Technology Innovation add value to our portfolio companies by
offering coaching and consulting and by giving access to networks of advisers,
technical experts, advisory groups, industry, and capital.

Gregersensvej, Postboks 141, 2630 Taastrup, DK-Denmark


Telephone: + 45 7220 2800 Fax: + 45 7220 2802
E-mail: tekinno@teknologisk.dk Website: http://www.tekninno.dk

Contact points for sales, export-import, cooperation and joint-ventures

1. Euro Info Center Handelskammeret (Euro Info Center - The Danish


Chamber of Commerce)
There are eight regional Euro Info Centres (EICs) in Denmark. In addition to
offering small and medium-sized enterprises general advice on EU matters, the
EIC offers information about subsidies, standards along with the exchange of
business contacts.

Euro Info Center Handelskammeret


Børsen, DK-1217 København K, Denmark

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Tel: + 45 3395 0500 fax: + 45 3332 5216


Website: http://www.eic-commerce.dk or http://www.euro-info.dk (link to the
other Euro Info Centres)

2. Det Danske Handelskammer (The Danish Chamber of Commerce)


The organisation is a federation for enterprises conducting international
commerce. The Danish Chamber of Commerce consists of three groups
specialising in import/export, manufacturing and service industries, respectively.

Børsen, DK-1217 København K, Denmark


Telephone: + 45 3395 0500, Fax: + 45 3332 5216
Website: http://www.commerce.dk

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Estonia

1. Enterprise Estonia
Enterprise Estonia is one of the largest institutions within the national support
system for entrepreneurship in Estonia, providing financing products, advice,
partnership opportunities and training for entrepreneurs, research and
development institutions and the public and third sectors.
Enterprise Estonia actively operates in the following areas: the enhancement of
the competitiveness of Estonian enterprises in foreign markets, the inclusion of
foreign direct investments, inbound and domestic tourism, the elaboration of
technological and innovative products and services, the development of Estonian
enterprises and the entrepreneurial environment and the enhancement of
general entrepreneurial awareness.
Enterprise Estonia is one of the institutions responsible for the implementation of
EU structural funds in Estonia, as well as being the primary provider of support
and development programmes targeted towards entrepreneurs.
Enterprise Estonia was founded in 2000 by the Ministry of Economic Affairs with
the aim of promoting the competitiveness of the Estonian entrepreneurial
environment and Estonian businesses, thereby increasing prosperity.

Liivalaia 13/15, 10118 Tallinn


Phone: +372 6 279 700/ +372 6 279 400 Fax: +372 6 279 427
E-mail: eas@eas.ee Internet: www.eas.ee

2. Estonian Chambers of Commerce and Industry


Estonia´s economic success has been built on stable currency, liberal foreign
trade regime, liberalisation of prices, and abolition of state subsidies, fast
privatisation and effective bankruptcy legislation.

Toom-Kooli 17, Tallinn, Estonia, 10130


Debbie-Triin Napits, Arbitration Court Counsellor
Phone: +372 646 0244 Fax: +372 646 0245
debbie-triin.napits@koda.ee

3. Guarantee Fund
The objective of the Fund is to guarantee, under the conditions and to the extent
provided by the Guarantee Fund Act, protection of funds
• deposited by clients of credit institutions (depositors),
• clients of investment institutions (investors) and
• unit-holders of mandatory pension funds,
and thereby to increase the reliability and stability of the financial sector.

Roosikrantsi 2, Tallinn, 10119 ESTONIA


Tel: (372) 6110 730 Fax: (372) 6110 732
E-mail: tf@tf.ee Internet: www.tf.ee

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Finland

Governmental organisations

1. Kauppa- ja teollisuusministeriö, KTM (Ministry of Trade and Industry,


MTI)
KTM (MTI) is responsible for SME policy in Finland. It operates regionally in TE-
keskukset (altogether 15 regional offices, Employment and Economic
Development Centres).

Aleksanterinkatu 4, P.O. box 32, 00023 Government, Finland


Phone: + 358 9 1601 Fax: + 358 9 160 3666
Website: http://www.vn.fi/ktm/

2. TE-keskukset (Employment and Economic Development Centres, EEDC)


Ministry of Trade and Industry, Ministry of Labour and Ministry of Agriculture form
together a regional one-stop-shop providing regional counselling, information as
well as finance and training. SMEs are an important customer and target group of
the EEDCs. (There are 15 regional EEDCs)
Internet: http://www.te-keskus.fi

3. Finnvera Oyj (Finnvera Plc)


Finnvera Plc is a publicly owned risk financing expert supporting Finnish SMEs.
Finnvera offers export credit guarantees and supports domestic operations of
small and medium sized companies by offering risk financing and guarantees.
Finnvera plc is a specialised financing company offering financing services to
promote the domestic operations of Finnish businesses and to futher exports and
internationalisation of enterprises. Finnvera is owned by the Finnish state.

Vuorimiehenkatu 1, PO Box 1010, 00101 Helsinki, Finland


Phone: +358 204 6011 Fax: +358 204 60 7220
Website: http://www.finnvera.fi

SME Advisory Services and Business Information Centres

1. Teollisuuden ja työnantajain keskusliitto, TT (Confederation of Finnish


Industry and Employers)
The Confederation of Finnish Industries EK is the leading business organisation
in Finland. EK represents the entire private sector and companies of all sizes.
• Over 70% of Finland´s GDP
• Over 95% of Finland´s exports
• 44 branch associations

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• About 16,000 member companies, 96% of which are SMEs


• About 900,000 employees

EK focuses its activity on the following goals:


• A business environment which stimulates growth and success for
companies
• Securing the competitiveness of Finnish work
• Ways to benefit from the opportunities offered by globalisation
• Economic policies promoting competitiveness
• Efficient member services
The Confederation of Finnish Industry and Employers safeguards the interests of
companies in manufacturing, construction, transport and other service sectors
related to industry. TheConfederation promotes entrepreneurship, market
economy, and internationalisation of business.

Eteläranta 10, 00130 Helsinki, Finland


Phone: + 358 9 68 681 Fax: + 358 9 68682316
E-mail: netti@ek.fi Website: http://www.tt.fi/

2. Suomen Yrittäjät ry (Federation of Finnish Enterprises)


The Federation of Finnish Enterprises has the largest membership among
economic federations in Finland. Today our membership consists of more than
90,000 enterprises of all sizes, from all corners of the country and covering the
entire business spectrum.Suomen Yrittäjät as an employer and entrepreneur
organisation aimed at improving the operating abilities of Finnish SMEs. The
activities of Suomen Yrittäjät include e.g. co-operation, effecting political decision
making and public sector administration and improving skills and know-how of
entrepreneurs. (There are also 19 regional federations.)

Kaisaniemenkatu 13 A, P.O. box 999, 00101 Helsinki,Finland


Phone: +358 9 229 221 Fax: +358 9 229 229 99
E-mail: toimisto@yrittajat.fi Website: http://www.yrittajat.fi/

3. PKT-säätiö (SME Foundation)


SME Foundation develops and promotes business management skills, principally
for small and medium sized enterprises.
Activities:
PKT has activities in three different areas :
• development of consulting services: (training, method development,
projects)
• promotion of research on SMEs
• information service (newsletter, database of consultants, publications)
PKT works in co-operation with other organizations in development projects for
SMEs. Foundation also helps and advices enterprises nationwide, and promotes
networking between enterprises. These activities normally involve the use of
outside specialists, i.e. management consultants. The activities are focused on

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developing the quality assurance of consultant services and on adapting SME


consultants to the demands resulting from changes on the European scene.

Unioninkatu 14, 00130 Helsinki, Finland


Phone: +358 9 7511 7511 Fax: +358 9 7511 7500
E-mail: pkt-saatio@pkt.fi Website: http://www.pkt.fi/

4. Patentti- ja rekisterihallitus, PRH (National Board of Patents and


Registration in Finland)
The exceptional status of the Finnish Trade Register in relation to other registers
is based on the fact that the judicial effects of Trade Register entries are
specified by Finnish law. The judicial effects consist of the effect of publicity, the
effect establishing a right, and the protection of registered company names. As
the Trade Register entries have judicial effects, it is important that companies
know and update their company details held at the Trade Register.
PRH aims at furthering technical and economic development and co-operation in
Finland. It provides services and counselling in the fields of e.g. patents, utility
models, trademarks, design rights, financial statements of the companies.

Arkadiankatu 6 A, PO box 1140, 00101 Helsinki, Finland


Phone: +358 9 6939 500 Fax: +358 9 6939 5328
E-mail: neuvonta.kaupparekisteri@prh.fi Website: http://www.prh.fi/

5. Finnish Business Information System


The Business Information System (BIS) is a joint service for businesses and
organisations that are clients of the Finnish Tax Administration, Trade Register or
Register of Foundations. The Business ID has to be provided on business
documents instead of the Business Code as from 1 April 2004. When the
authorities are liable to pay value-added tax, they use the Business ID of the
Finnish State.
Internet: www.ytj.fi

Financial Institutions and Intermediaries for SME support

1. Finpro
Finpro is a consulting organization focused on accelerating the
internationalization of Finnish companies while managing the risks involved.
Finpro carries out this national task through a client-oriented approach in co-
operation with other service organizations working towards the same goals.
Finpro is dedicated to helping Finnish companies grow and expand
internationally - as effectively as possible. With over 300 experts based at 50
tradecenters in 40 countries around the world, and at our two offices in Finland:
Helsinki and Oulu, we offer an unrivalled range and depth of consultancy
expertise.

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Arkadiankatu 2, P.O. box 908, 00101 Helsinki, Finland


Phone: + 358 204 6951 Fax: +358 204 695 535
E-mail: info@finpro.fi Website: http://www.finpro.fi

2. Keksintösäätiö (Foundation for Finnish Inventions)


Foundation for Finnish Inventions supports and helps private individuals and
entrepreneurs to develop and exploit invention proposals. The staff includes
technical and commercial experts and in addition there are representatives
located at institutes of technology in different parts of Finland. The Foundation is
at the forefront in advising, evaluating, financing, developing and marketing over
a thousand projects in different areas of technology every year. The Foundation
was established in 1971 and is mainly funded by the Finnish Ministry of Trade
and Industry. Its premises are situated in the heart of Finland's technology area
in Espoo close to the Helsinki University of Technology. The Foundation serves
as a link between inventors, innovators, consumers, businesses and industry in
Finland or other parts of the world whether it is a matter of setting up production,
licensing or any other means of exploiting an invention.
Besides evaluation, protection, promotion and product development of inventions
the Foundation's services include:
• Financial support (risk financing, grants and loans)
• Marketing and commercialization of inventions
• Search for Finnish and/or foreign partners
• Licensing offers Information on inventions and innovations through media
coverage, seminars and relevant trade affairs
• Legal and other assistance in licensing negotiations and preparing
agreements

Tekniikantie 12 (Innopoli), P.O. box 382, 02150 Espoo, Finland


Phone: +358 9 5024 320 Fax: +358 9 5024 3210
Website: http://www.keksintosaatio.fi/ and http://www.innofin.fi/

3. Sitra
Sitra, the Finnish National Fund for Research and Development, is an
independent fund, which finances and implements nationally significant research,
training and innovative projects and invests in domestic and international
technology companies and funds. The Finnish National Fund for Research and
Development (Sitra) is an independent public foundation under the supervision of
the Finnish Parliament. Through its activities, Sitra aims to promote the economic
prosperity and the future success of Finland. Sitra’s aim is to be a respected
partner in building a knowledgeable and innovative society.
Sitra’s operations have been focused into six programmes, each of which
consists of various projects and measures. The programme areas are:
• Innovations
• Health Care
• Food and Nutrition

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• Environment
• Russia
• India
The programmes utilise a wide array of methods, including research and
education, innovative projects, business development, venture-capital
investments and other corporate funding. The methods used vary from
programme to programme.
Sitra was set up in conjunction with the Bank of Finland in 1967 in honour of the
50th anniversary of Finnish independence. The Fund was transferred to the
Finnish Parliament in 1991. Sitra’ s operations are funded with endowment
capital and returns from capital investments.

Itämerentori 2, P.O. box 160, 00181 Helsinki, Finland


Phone: +358 9 618 991 Fax: +358 9 645 072
E-mail: sitra@sitra.fi Website: http://www.sitra.fi

4. Tekes
Tekes, the National Technology Agency, is Tekes is the main public funding
organisation for research and development in Finland. Tekes funds industrial
projects as well as projects in research organisations, and especially promotes
innovative, risk-intensive projects. Tekes offers partners from abroad a gateway
to the key technology players in Finland.

Kyllikinportti 2, Länsi-Pasila, P.O. box 69, 00101 Helsinki, Finland


Phone: +358 105 2151 Fax: +358 9 694 9196
Website: http://www.sitra.fi

Contact points for sales, export-import, cooperation and joint-


ventures

1. Keskuskauppakamari (The Central Chamber of Commerce of Finland)


Keskuskauppakamari is a central organisation, which serves the interests of the
business community nation-wide. It also functions as the joint co-operative body
of Finland's Chambers of Commerce. (There are also 21 regional Chambers of
Commerce.)

Keskuskauppakamari, Aleksanterinkatu 17, P.O. box 1000, 00101 Helsinki,


Finland
Phone: +358 9 69 69 69 Fax: +358 9 65 03 03
Website: http://www.keskuskauppakamari.fi

2. FINTRA
FINTRA (The Finnish Institute for International Trade) develops and promotes
the expertise of companies and individuals in international business. FINTRA

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provides in-depth training for business leaders and those in business. Fintra is
Finland's leading trainer in international business management. It is specialized
in training services, creating tailor-made concepts to meet the development
needs of companies and individuals in an increasingly global business
environment.
Most of the training is tailored specifically to the needs of the client. This way, the
latest knowledge in the field is linked as closely as possible with the company's
own operations and objectives.The training concepts are based on
understanding the client's values, their business and their development needs. It
links the highest level of knowledge with hands-on experience; our training aims
to put insights and expertise directly into practice.They offer our clients the latest
knowledge, fresh perspectives and creative concepts for training. The impact of
training can be assessed in the client's day-to-day work.

Kaupintie 2, 00440 Helsinki, Finland


Phone: +358 9 228 281 Fax: +358 9 228 28 528
E-mail: fintra@fintra.fi Website: www.fintra.fi

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France

Governmental organisations

1. Ministère de l'Economie, des Finances et de l'Industrie (MINEFI) (Ministry


of Economy, Finance and Industry)
The Ministry of Economy, Finance and Industry is responsible for the design of
SME policy and craft policy.

MINEFI, 139, rue de Bercy, F - 75012 Paris


Phone: + 33 1 40040404 Fax: + 33 1 53189500
Website: http://www.finances.gouv.fr, or http://www.minefi.gouv.fr

2. Secrétariat d'Etat aux PME, au Commerce, à l'Artisanat et à la


Consommation (Secretariat of State for SMEs, trade, Craft and
Consumption)
Within the Ministry of Economy, this Secretariat of State is responsible for the
craft policy and contributes to the design of the SME policy, in particular with
regard to the reduction of administrative burdens and start-ups.

207, rue de Bercy, F - 75012 Paris


Phone: + 33 1 44871717
Fax: + 33 1 44871957
Web: http://www.pme-commerce-artisanat.gouv.fr, or http://www.minefi.gouv.fr

3. Secrétariat d'état à l'industrie (Secretariat of State for Industry)


Within the Ministry of Economy, the Secretariat of State for Industry is in charge
of the policy in favour of manufacturing SMEs. The Secretariat of State for
Industry comprises two directions : la Direction à l’Action Régionale et aux PMI
(Direction for Regional Action) (DAR-PMI), et la Direction Générale de l’Industrie,
des Technologies de l’Information et des Postes (General Direction for industry,
Information Technologies, and Posts) (DiGiTiP)

Secrétariat d'état à l'industrie DAR-PMI


20, avenue de Ségur, F - 75353 Paris SP 07
Tél: + 33 1 43193636

DiGiTiP, Le Bervil, 12 rue Villot, F - 75572 Paris Cedex 12


Tel : + 33 1 44 87 17 17
Website: http://www.industrie.gouv.fr, or http://www.minefi.gouv.fr

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4. Secrétariat d'Etat au commerce extérieur, Direction des Relations


Economiques Extérieures (DREE) (Secretariat of State for external trade,
Direction of External Economical Relations)
Within the Ministry of Economy, the Secretariat of State for External Trade co-
ordinates the national support for export.

Secrétariat d'état au commerce extérieur DREE


139, rue de Bercym F - 75012 Paris
Phone: + 33 1 44871717 Fax: + 33 1 53171305
Website: http://www.commerce-exterieur.gouv.fr, or http://www.minefi.gouv.fr

5. Ministère de l'Emploi et de la Solidarité (MES), Délégation Générale à


l’Emploi et à la Formation Professionnelle (DGEFP) (Ministry for
Employment and Solidarity, General Delegation for Employment and
Vocational training)
As regards SMEs, the Ministry for Employment and Solidarity is in charge of
national support for job generation and vocational training.

Ministère de l'emploi et de la solidarité DGEFP


7, square Max Hymans, F - 75015 Paris
Phone: + 33 1 44383838 Fax: + 33 1 44383300
Website: http://www.travail.gouv.fr

6. Ministère de l'Education Nationale, de la Recherche et de la Technologie


(MENRT), Direction de la Technologie (Ministry for National Education,
Research and Technology, Direction of Technology)
The Direction for Technology co-ordinates the national policy for innovation in co-
operation with the Secretariat of State for Industry

MENRT, Direction de la technologie


1, rue Descartes, F - 75231 Paris Cedex 05
Phone: + 33 1 46343425 Fax: + 33 1 46343641
Website: http://www.education.gouv.fr/technologie

7. Délégation à l’Action Régionale et à l’Aménagement du Territoire


(DATAR) (Delegation for Regional Action and Space Planning)
Service of the Prime Ministry, DATAR is set to disposal of the Ministry for Space
Planning and Environment. Its mission is to prepare, to impulse and to coordinate
the decisions related to the space planning policy conducted by the State.

DATAR, 1, avenue Charles Floquet, 75343 Paris Cedex 07


Tel : +33 140651234 Fax : +33 143069901
Website: http://www.datar.gouv.fr

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8. Conseil National des Economies Régionales (CNER)


CNER has a double role : it is the national federation of economical development
agencies, and it is a forum, a proposal force in the domains of space planning
and economical space development.

219, Boulevard Saint-Germain, F - 75007 Paris


Tél. : +33 142223529 Fax. +33 145499149
E-mail: cner@cner-france.com Website: http://www.cner-france.com/

SME Advisory Services and Business Information Centres

1. APCE (Agence Pour la Création d'Entreprises) (Agency for Start-ups)


For close on 20 years, this agency has played an effective role in world of
business start-ups. Because the first quality required in a changing world is the
ability to adapt, the ANCE, now the Agence Pour la Création d’Entreprises
(APCE), has kept pace with the changes in the institutional landscape of
business start-up support. Its new responsibilities make the agency a key
contributor to the consistency and efficiency of the environment in which
entrepreneurs must operate. The agency acts as a national observatory,
encompassing also the new European and international vistas that have opened
up, and has considerable influence with the authorities. The agency works for the
creation and development of support networks for those starting up, taking over
or selling businesses, at local, regional, national and European levels. It transfers
its specialist know-how to partners in the field and provides them with the most
modern purpose-built tools to ensure that their projects come to successful
fruition.
The tasks of the Agence Pour la Création d’Entreprises :
• Disseminate the spirit of enterprise.
• Inform entrepreneurs and assist professionals in their tasks.
• Observe and analyse the process of business start-ups in order to
determine what forms of action are likely to improve the causes and
effects thereof.
On the strength of its experience in the field of business start-ups, the APCE has
developed products and services designed to assist entrepreneurs, operators
and the authorities in making their projects a reality. Whether it be in the field of
information, guidance for entrepreneurs or optimising business start-up systems,
the APCE can provide real assistance to all those in any way involved in the
process of business start-up, and hence of job creation.
The APCE relies on an active partnership policy to advertise and optimise its
efforts.
At the local, regional, national, European and international level, the agency
prides itself on creating the synergies needed to bring its tasks to completion.
Four objectives are the focus of the various partnership agreements :
1. developing the spirit of enterprise ;

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2. adding to the number of quality projects undertaken ;


3. providing a better response to the needs of entrepreneurs and those
taking over established businesses.
4. ensuring the long-term future of new start-ups.
The APCE is committed to assiduous and effective partnership, whether in the
field of business start-up support networks, aid associations for entrepreneurs,
private or public sector initiatives in favour of business development, or
institutional bodies dedicated to assisting entrepreneurs.

14, rue Delambre, F - 75014 Paris


Phone: + 33 1 42185858 Fax: + 33 1 42185800
E-mail : info@apce.com Website: http://www.apce.com

2. UBIFRANCE, French Agency for international business development


UBIFRANCE, the French Agency for international business development, helps
to expand your business abroad. In connection with the economic departments of
the French embassies abroad, UBIFRANCE offers a complete range of products
and services to support in development abroad:
• information products, consulting, market supervision to work out your
strategy of development on the international level
• actions of promotion to favour partnerships with foreign companies

77, boulevard Saint Jacques - 75014 Paris


Phone: (33.1) 40 73 30 00 - Fax : (33.1) 40 73 39 79
E-mail : Internet: www.ubifrance.fr

Financial Institutions and Intermediaries for SME support

1. OSEO
OSEO was born in 2005, by bringing together ANVAR (French innovation
agency) and BDPME (SME development bank), around a mission of general
interest supporting the regional and national policies. Its mission is to provide
assistance and financial support to French SMEs and VSEs in the most decisive
phases of their life cycle: start up, innovation, development, business transfer /
buy out. By sharing the risk, it facilitates the access of SMEs to financing by
banking partners and equity capital investors.
OSEO covers four areas of activity :
• Innovation support and funding : for technology transfer and innovative
technology-based projects with real marketing prospects.
• Funding investments and operating cycle alongside the banks, through
OSEO bdpme.
• Guaranteeing funding granted by banks and equity capital investors.
• Performing studies (SMEs Observatory) and providing services to
SMEs.

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OSEO's partners are : banks, financial institutions and equity capital investors ;
research laboratories, universities, engineering schools, major companies ;
chambers of commerce and industry, tradesmen's guilds ; business start-up
assistance and support networks ; government agencies and private
organisations working to promote the use of information technology by SMEs ;
European structural funds and Community research programmes... OSEO
covers all areas of France, through its regional network. It works with local
communities and in particular with the French regions. It makes its skills and
networks available to them, acts on their behalf and in accordance with their
economic development priorities. Jean-Pierre Denis is Chairman and Managing
Director of OSEO, surrounded by Joel Darnaud, Michel Clavier and Michel
Guilbaud.

43, rue de Caumartin, F - 75346 Paris Cedex 09


Phone: + 33 1 40178300 Fax: + 33 1 42660220
Website: www.oseo.fr

2. Banque de Développement des PME (BDPME) (SMEs Development Bank)


The BDPME group provides a distribution of loans and guarantees aimed at
facilitating the access to finance for SMEs whatever their stage in the life cycle of
an enterprise.

27, avenue du Général Leclerc


F - 94700 Maisons-Alfort
Phone: + 33 1 41798000 Fax: + 33 1 41798001

Contact points for sales, export-import, cooperation and joint-ventures

1. Assemblée Permanent des Chambres de Commerce et d'Industrie (APCI)


(Permanent Assembly of Chambers of Commerce and Industry)
At the local level, the 160 Chambres de Commerce et d’Industrie (CCI)
(Chambers of Commerce and Industry) inform, and, at the regional level, the 21
Chambres Régionales de Commerce et d’Industrie (CRCI) (Regional Chambers
of Commerce and Industry), advise and organise training for SMEs for the
distributive trades, industry and services. They also inform starters in these
sectors of activity and are in charge of registration formalities.

45, avenue d'Iéna, F - 75016 Paris


Phone: + 33 1 40693700 Fax: + 33 1 47206128
Website: http://www.acfci.cci.fr

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2. Assemblée Permanente des Chambres de Métiers (APCM) (Permanent


Assembly of Craft Chambers)
At the local level, the 106 Chambres de Métiers (CM) (Craft Chambers), and, at
the regional level, the 23 Chambres Régionales de Métiers (CRM) (Regional
Craft Chambers) inform, advise and organise training for craft enterprises. They
also inform craft starters and are in charge of their registration formalities.

12, avenue Marceau, F - 75008 Paris


Phone: + 33 1 44431000 Fax: + 33 1 47203448
Website: http://www.apcm.com

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Germany

SME Advisory Services and Business Information Centres

1. Centre for Innovation and Technology in Northrhine-Westfalia)


ZENIT GmbH was established in 1984 to help small and medium-sized
enterprises in North Rhine-Westphalia in the development and introduction of
future-oriented innovations with proficient advice and active assistance and thus
to support the urgently needed structural change in the region. With the
consortium of banks, which has since been extended and includes a private
group of banks and the Westdeutsche Genossenschafts Zentralbank (WGZ-
Bank), together with the other two shareholders, ZENIT has direct contact and
access - unlike most other consulting company - not just to enterprises but also
to the financial world and to politics. Since solutions to existing problems are
solved on a partnership level, the model - which describes the joint activities of
small and medium-sized industry, politics and the financial community in dealing
with the structural change - is referred to as the "Private Public Partnership".
Partly with the support of the Federal State of North Rhine-Westphalia and the
European Union, ZENIT prepares its clients for the European market as well as
for globalisation and helps them open up new markets and establish suitable
national and international co-operation partnerships. ZENIT makes an important
contribution to this by organising successful joint stands at international
exhibitions, intensive coaching before, during and after the events, mediation of
interesting company contacts via international networks of consultants or via its
highly diversified programme of informative seminars and workshops.
In the framework of its role as official Euro Info Centre and Innovation Relay
Centre of the European Commission, ZENIT also provides support in
applications for public funding at European level and helps in the Europe-wide
marketing of innovative technologies. Since the development of innovative
products, processes and services alone is however not sufficient to guarantee
long-term success in the marketplace, assistance - tailor-made to the needs of
SMEs and practice-oriented - in dealing with a wide spectrum of management
tasks is part of our comprehensive service offer.

Zentrum für Innovation und Technik in Nordrhein-Westfalen GmbH (ZENIT)


Dohne 54, D-45468 Mülheim an der Ruhr, Germany
Phone: +49 208 30004-0 Fax: +49 208 30004-87
E-mail: info@zenit.de Website: http://www.zenit.de

2. Rationalisierungs- und Innovationszentrum der Deutschen Wirtschaft


e.V. (RKW) (Centre for Rationalisation and Innovation of the German
Economy)
RKW with its central office in Eschborn and 15 regional offices increases SMEs'
productivity by offering information services, consultancy as well as internal and

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external training measures. RKW also supports SMEs in managing technological,


organisational and skills-related changes. RKW promotes the modernisation of
the economy by looking at the future of small and medium-sized enterprises
(SMEs) using application-oriented research into how productivity can be
increased. We place a special focus on improving the working conditions of
employees and simultaneously boosting employment.
Through a network spread across the Federal Republic of Germany consisting of
RKW, its regional organisations and their associated commercial bodies we
develop and make recommendations for companies and politicians. RKW is
supported by the Federal Ministry for the Economy and Technology.

Düsseldorfer Straße 40, D-65760 Eschborn, Germany


Phone: +49 6196 495-0 Fax: +49 6196 495-303
E-mail: rkw@rkw.de Website: http://www.rkw.de

3. ALT HILFT JUNG e.V. - Bundesarbeitsgemeinschaft der Senior-Experten


(The Elder support the Young - Federal Working Group of Senior Experts)
Senior experts, retired from active professional life, offer their experiences and
knowledge Germany-wide and on a voluntary basis to young business starters
and entrepreneurs.

Kennedyallee 62-70 D-53175 Bonn


Phone: +49 228 377-1257 Fax: +49 228 377-1258
E-mail: kontakt@alt-hilft-jung.de Website: http://www.althilftjung.de

4. MediaMit Informationsoffensive ("Multimedia and SMEs" - Information


Campaign)
Focussing on SMEs local chambers of commerce organise information
campaigns consisting of practical workshops and simultaneous fairs featuring
regional as well as Germany-wide suppliers of Internet and multimedia related
products.

Adenaueralle 148, D-53113 Bonn, Germany


Phone: +49 228 104-1628 Fax: +49 228 104-1633
E-mail: info@mediamit.de Website: http://www.mediamit.de

5. Arbeitsgemeinschaft Deutscher Technologie- und Gründerzentren e.V.


(ADT) (Working Group of German Science Parks and Business Incubators)
ADT represents the national federation of science parks and business
incubators, which support start-ups, growing SMEs and technological innovations
by providing the necessary technical infrastructure and targeted consultancy
services.

Rudower Chaussee 29, D-12489 Berlin-Adlershof, Germany


Phone: +49 30 6392-6221 Fax: +49 30 6392-6222
E-mail: adt@adt-online.de Website: http://www.adt-online.de

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6. Technologieorientiertes Besuchs- und Informationsprogramm TOP


(Technology-oriented Visiting and information Programme TOP)
Specialised staff and executives interested in innovation are offered the
opportunity to visit leading innovative enterprises for one day and to learn on the
spot about the successful use of innovative technologies and strategies.

P.O. Box 20 01 63, D-60605 Frankfurt am Main, Germany


Phone: +49 69 7591-1133 Fax: +49 69 7591-2301
E-mail: mail@top-online.de Website: http://www.top-online.de

7. Zentrum für Auslandsinvestitionen in Deutschland (ZfA) (Federal Centre


for Foreign Investment in Germany)
ZfA provides potential foreign investors with information about the legal and
economic framework for doing business in Germany, on economic and sectoral
trends as well as on government support for investment in Germany.

Markgrafenstraße 34, D-10117 Berlin, Germany


Phone: +49 30 20657-0 Fax: +49 30 20657-111
E-mail: office@fdin.de Website: www.invest-in-germany.de/en/

Financial Institutions and Intermediaries for SME support

1. Deutsche Ausgleichsbank (DtA) (German Compensation Bank)


The SME sector is the backbone of the German economy. 3.3 million SMEs
continually face new challenges - many of which involve finding the right type of
financing. The KfW Mittelstandsbank offers SMEs, business start-ups and the
self-employed support with this, in the form of loans, mezzanine financing,
equity capital and consulting services.
All investment projects that we assist are tied to a specific purpose and financed
at favorable terms and conditions. Here long-term loans play a central role as a
classic financing module. Our mezzanine financings help eliminate financing
barriers and strengthen the financing structures of SMEs and business start-ups.
Our know-how also pays off when it comes to improving the equity base of
SMEs. For example, we assist SMEs in raising equity capital via special
programmes. As a source of impulses it is our task to support companies that are
working today on the technologies of tomorrow in their search for venture
capital.
It is also active members of round tables and advisory centers to discuss
issues important to SMEs. The relationships with the banks of our customers,
which on-lend our financial support, are based on partnership. The banks verify
the applicants' economic and financial situation on our behalf, provide the
security and frequently assume liability for the redemption of the loans.

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Deutsche Ausgleichsbank (DtA)


Ludwig-Erhard-Platz 1-3
D-53179 Bonn
Phone: +49 228 831-0 Infoline on support programmes: (+49) 01801 242400
Fax: +49 228 831-2255
E-mail: dtabonn@dta.de Website: http://www.dta.de

2. Kreditanstalt für Wiederaufbau (KfW) (Development Loan Corporation)


KfW Bankengruppe (KfW banking group) gives impulses for the economy,
society and ecology in Germany, Europe and the world over. It supports change
and promotes promising ideas. The bank works in the promotion of SMEs, in
home finance or housing modernization, in the protection of the environment and
the climate, in Export and Project Finance or in the promotion of the developing
and transition countries.
As a bank owned by the federal government (80%) and the Länder (20%) they
have a strong backbone. The official promotional mission is anchored in the KfW
law. For more than 50 years they have proven to be an efficient promotional
bank.They raise the majority of our funds on the capital market. The fruit of our
work flows back into the promotional activities and ensures the potential to
provide support in the long term. Meanwhile it is one of the ten biggest banks in
Germany with a balance sheet total of EUR 341 billion (as per 31.12.2005).

Palmengartenstraße 5-9, D-60325 Frankfurt am Main


Phone: +49 69 7431-0 Fax: +49 69 7431-2944
E-mail: info@kfw.de Website: http://www.kfw.de

3. Venture Management Services (Innovation Market, Business Angels


Forum BAND, Deutsches Eigenkapitalforum (German Equity Forum))
Aiming at improving the transparency and the quality of information in the
German (early stage) venture capital markets this Internet-platform addresses
investors, mentors and capital-seeking enterprises.

Palmengartenstraße 5-9 D-60325 Frankfurt am Main


Phone: +49 69 7431-0 Fax: +49 69 7431-2944
E-mail: juergen.koestner@kfw.de
Website: http://www.venture-management-services.de

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4. Förderdatenbank des Bundes im Internet (Federal Database of Support


Programmes on the Internet)
Aiming at improving the transparency of support measures in Germany this
online database of support programmes provides a complete and continuously
up-dated picture of Federal, Länder- and EU-related support programmes.

D-11019 Berlin, Germany


Phone: (+49) 01888 615-7649 Fax: (+49) 01888 615-7033
E-mail: foerderberatung@bmwi.bund.de Website: http://www.bmwi.de

Contact points for sales, export-import, cooperation and joint-ventures

1. Bundesstelle für Außenhandelsinformation (bfai) (Federal Office of


Foreign Trade Information)
Bfai assists, in particular, small and medium sized enterprises in doing business
in foreign countries. Therefore it speedily compiles vital information on the
relevant foreign markets at low charged costs.

Bundesstelle für Außenhandelsinformation (bfai)


Agrippastraße 87-93, D-50676 Köln, Germany
Phone: +49 221 2057-0 Fax: +49 221 2057-212
E-mail: info@bfai.com Website: http://www.bfai.com

2. Industrie- und Handelskammern (IHKn) (Chambers of Commerce)


Germany's 82 chambers of commerce offer their members a broad variety of
information, consultancy and training services.
Local chamber of commerce
Website: http://www.ihk.de

Deutscher Industrie- und Handelstag (DIHK)


Breite Straße 29, D-10178 Berlin, Germany
Phone: +49 30 20308-0 Fax: +49 30 20308-1000
E-mail: dihk@berlin.dihk.de Website: http://www.dihk.de

3. Handwerkskammern (Chambers of Craft Trades)


As well as the chambers of commerce, local chambers of craft trades offer their
members a wide range of information, consultancy and training services.
Local chamber of craft trades
Website: http://www.zdh.de
Mohrenstraße 20/21, D-10117 Berlin, Germany
Phone: +49 30 20619-0 Fax: +49 30 20619-460
E-mail: info@zdh.de Website: http://www.zdh.de

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Greece

Chambers

1. Athens Chamber of Commerce and Industry, ACCI


7, Akadimias str., 10671 Athens, Greece
Telephone: + 3210 36 04 815-9 Fax: + 3210 36 16 408
Website: http://www.acci.gr

2. Athens Chamber of Small and Medium Industries, BEA


18, Akadimias str., 10671 Athens, Greece
Telephone: + 3210 36 35 313-9 Fax: + 3210 36 14 726
Website: http://www.ibcc.org/beaintro.html

SME Advisory Services and Business Information Centres

1. Hellenic Organisation of Small and Medium Sized Enterprises and


Handicraft, EOMMEX
The Hellenic Organization of Small and Medium Sized Enterprises and
Handicraft S.A. (EOMMEX S.A.) is a non-profit public Organization operating
under the auspices of the Ministry of Development. EOMMEX’s mission is:
• To provide policy advice to the Ministry of Development on:
o The SME sector, including the formulation of a national SME
development strategy
o The impact of proposed and existing legislation on the SMEs sector
o Means of simplifying and facilitating the business environment
• To implement the national policy in the area of SMEs through specific
actions and programmes (business support measures) to the benefit of
the SMEs aiming at the promotion, modernization and development of the
SMEs so as to enable them to meet the requirements of the constantly
changing business environment.
Activities:
EOMMEX S.A. has focused its activities on fulfilling following main objectives:
• Enhancing competitiveness of the SMEs
• Promoting entrepreneurship and facilitating start–ups
• Facilitating ICT uptake
• Contributing to the efforts for simplifying and improving the administrative
and regulatory environment
• Education and training for entrepreneurship
In order to achieve these objectives, EOMMEX S.A. cooperates with:
• The Ministry of Development, the Ministry of National Economy and
Finance, the Chambers of Small and Medium Sized Enterprises,

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Organizations and Associations representing the SMEs sector of the


economy.
• The European Commission and the OECD, as well as other Institutions
dealing with SMEs or undertaking activities similar to those of EOMMEX
S.A.

16 Xenias & Evrou str., 11528 Athens, Greece


Telephone: + 3210 74 91 100 Fax: + 3210 77 15 025
Website: http://www.eommex.gr

2. The Hellenic Manpower Employment Organisation, OAED


OAED provides vocational training to SMEs in the form of initial and continuous
vocational training. It also promotes employment by offering jobs in accordance
with the qualifications of unemployed. AED takes action in the following sectors:
• the one of vocational guidance of the manpower by its specialized
Executives and counselors about the professional alternatives offered,
• the one of vocational training of the manpower which aims at the
o creation of specialized manpower,
o transition from education and Vocational training to the production
procedure.
This is how the encounter of the needs in professional qualifications that are
caused by the continuously changing demands of the Labour Market will be
accomplished, as well as the smooth accession and integration of young people
to it. An extensive net of 57 Vocational Training Centres throughout the country is
responsible for the accomplishment of this task. In order to fulfill its goals, the
Organization participates in 15-member Organizations Network named E.V.T.A.
(European Vocational Training Association) and among others it sets at
Computer Network, Training Centres for young people who suffer from social
exclusion. In this way an advantageous co-operation will be accomplished, for
trainees (mutual contacts-exchanges of trainees) as well as for trainers
(exchange of training products, organization of common projects).

GR-17456 Alimos, GREECE


Tel: +30 21 – 09989000 FAX : +30 21 - 09989500
Postal Box: 77117 / 17510 P.Faliro, GREECE
E-mail: governor@oaed.gr Internet: www.oaed.gr

3. Centre of Planning and Economic Research, KEPE


The Centre of Planning and Economic Research (KEPE) was established as a
research unit, under the title "Centre of Economic Research", in 1959. Its
primary aims were the scientific study of the problems of the Greek economy, the
encouragement of economic research and the cooperation with other scientific
institutions. KEPE deals with socio-economic plans and economic studies and
research at both micro and macroeconomic levels. Today, KEPE focuses on
applied research projects concerning the Greek economy and provides technical

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advice on economic and social policy issues to the Minister of the Economy and
Finance, the Centre ‘s supervisor.
In the context of these activities, KEPE produces four series of publications,
notably the Studies, which are research monographs, Reports on applied
economic issues concerning sectoral and regional problems, and Statistical
Series referring to the elaboration and processing of specified raw statistical data
series. Finally, it publishes papers in the Discussion Papers series, which relate
to ongoing research projects. So far the number of the publications exceeds 600.

11, Amerikis str., 106 72 Athens, Greece.


Tel. (+30)210-3676400, (+30)210-3627321,
Fax: (+30)210-3611136, (+30)210-3630122,
E-mail: kepe@kepe.gr Website: http://www.kepe.gr

4. ICAP Α.Ε. (ICAP S.A.)


ICAP is the largest Business Information and Consulting firm in Greece, as
indicated by its economic power, its prestige and the results it has attained to this
day. At the turn of the 21st century, ICAP is in a position to adopt international
developments and know-how, while also monitoring and participating actively in
the rapid developments in the business world, as they occur throughout the
world. ICAP has developed international alliances with leading firms specializing
in its various activities. Major shareholders of ICAP are ALPHA BANK,
the EMPORIKI BANK as well as the COFACE GROUP, one of the leading
European export credit insurance and financial data providers.
ICAP is a member of the CreditAlliance global network. It is also a member of
FEBIS (Federation of Business Information Services), of EADP (European
Association of Directory Publishers), of FEACO (European Federation of
Management Consulting Association) and of the international research
organisation Gallup International. It is also a member of SESMA (Association of
Greek companies in management consulting), AGMORC (Association of Greek
market and opinion research companies), and ESOMAR. ICAP provides all kinds
of information and advisory services to SMEs. It deals with studies and market
research in all economic sectors.

64 Vas. Sofias Av., 115 28 ATHENS


Tel.: 0030 210 7200000 (60 lines)
Fax: 0030 210 7250634-35, 210 7220255, 210 7220815
E-mail: icap@icap.gr Internet: www.icap.gr

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Financial Institutions and Intermediaries for SME support

Hellenic Bank Association


The HBA seeks to promote the collective modernization of its member banks and
develop the banking sector in general, thereby contributing to the advancement
of the Greek economy. Moreover, as a representative body, the HBA contributes
in a consultative capacity to regulatory issues, by participating in the formulation
of legislative proposals or in technical committees on the international, European
and national levels.At the same time, the HBA is not an employers' association;
aware of its responsibilities, it also makes a social contribution through its self-
regulatory role and the know-how it produces.
Furthermore, its top priority is the amicable settlement and resolution of disputes
between private customers and banks, via the services offered by the Banking
Ombudsman.The Association of Greek banks has participated in the
establishment of the SME Bank in Athens in 1999 and organises international
meetings in order to help the access of SMEs to finance.

21a, Amerikis Street, 106 72 Athens, Greece


Tel: (+30) 210 3386500, Fax: (+30) 210 3615324
Internet: www.hba.gr

Contact points for sales, export-import, cooperation and joint-


ventures

1. Hellenic Foreign Trade Board, HEPO


HEPO is officially responsible for implementing the export policy of Greece. The
organization's main focus is to:
• Design and coordinate activities for Greek enterprises to expand their
business into foreign markets
• Promote best-practices in line with the national export policy of Greece
• Develop and apply particular know-how in matters of export policy
• Evaluate partnerships in foreign markets and pursue matching
opportunities between Greek enterprises and those abroad
• Encourage and assist SMEs in entering international markets
Hepo's mission is to promote the exports of Greek SMEs.

86-88 M. Antypa str., Gr 163 46 Hellioupolis, Athens – Greece,


Tel.: +30 210 9982100, 80011119999 Fax: +30210 9969100,
E-mail: info@hepo.gr, infocenter@hepo.gr Website: www.hepo.gr

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Hungary

SME Advisory Services and Business Information Centres

1. Enterprise Financing Centre


Make proposals, give one’s opinion, evaluation. Conciliatory organisation of the
Government SME strategy and development of political decisions, works within
the Ministry of Economy and Transport.

1055 Budapest, Honvéd u. 13-15.


Tel.: 06-1-374-2700

2. Budapest Entreprise Agency


The Budapest Enterprise Agency was founded by the General Assembly of the
Municipilatiy of the City of Budapest in 1993. The Agency aims to promote the
launching and development of small and medium-sized enterprises through the
use of government, municipality and EU funds. Some 15,000 Budapest-based
enterprises approach the Agency each year and some 50,000 businesses have
availed themselves of its services since foundation.
The Agency's accredited consultants provide services in the following areas:
• provision of basic business, financial, legal, accounting and other
information related to the starting up of a business (primarily for new
enterprises),
• Review of the positions of operating companies, development consultation
(for example, available loan facilities).
• provision of information on available Hungarian and EU support schemes,
consultation regarding the relevant application schemes,
• general business management, organization, development and planning,
• development of strategic business management and marketing concepts,
• problem-solving for franchise businesses,
• innovation, patent issues,
• Provision of information on the economic aspects of accession to the EU
and on European enterprise promotion facilities.

Headquarters:
Városház u. 9–11 Budapest H-1052
Phone: (36-1)-269-68-69 Fax: (36-1)-268-18-00

Head office:
Rákóczi út 18 Budapest H-1072
E-mail: info@bvk.hu
Homepage: www.bvk.hu

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3. Seed Foundation for Small Entrepreneurs


Our mission is to help the sustainable growth of enterprises and NGOs,
prevailing of equal opportunity.

Mrs. Anikó Soltész, Managing Director


Rómer Flóris u 22-24
H-1024 Budapest
Tel: + 36-1 212 2179 Fax: +36 1 315 01 95
E-mail: seed@seed.hu

4. Business Basic Foundation


We aim to help small businesses and non-profit organizations get rapid and
simple access to credit and to support them in their efforts through training and
advice.

BB MICRO-CREDIT
Following nearly one and a half years of development with Micro loan
Corporation, BB Foundation has been participating in preparing small enterprises
for the BB Micro-Credit Program since Sept. 2004. The BB Micro-Credit has
created a unique opportunity by engaging in lending to formerly ignore small
businesses, which the banking sector had considered to be non-profitable. As
compared to other micro-credit arrangements, this program is unique in that a
local commercial lends its own funds relying on the experience the BB Business
Development Foundation has accumulated in analyzing small businesses over
the past 10 years.
The credit is designed to serve a source of working capital financing: purchasing
raw materials, procurement or imports, financing daily expenditure, smaller
capital expenditure (with repayment under a year).
Eligibility criteria:
• 0-10 employees
• a controlling Hungarian owner
• no current business loans
• form of business: private entrepreneur (sole trader), unlimited
partnership or general partnership
• businesses that have been operational for at least two years
• the business or the entrepreneur (sole trader) should be officially
registered
• the business or the entrepreneur should have no overdue accounts
payable to the tax authority
Lending terms:
• Loan amount between HUF 500,000 and 3,000,000
• Loan matures in 3 - 12 months
• Fix rate of interest to maturity, currently 19 %
• Interest payments due on the fifth business day of each month

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BB Foundation
Budapest, 1137 Jászai Mari tér 6. III. 17.
Tel/Fax: +36 1 315 0937, +36 1 315 1975, +36 1 438 3153
Email: bbf@bbf.hu

Business Associations and other NGOs

1. Hungarian Association of Craftmen's Corporation (IPOSZ)


IPOSZ is the largest national employer and professional organization of
Hungarian micro and small-sized enterprises, and craftsand also the spiritual
repository of craftsmen's corporations and their successive structures since
1884. It works as a national umbrella organization of 279 legally independent
craftsmen's corporations operating on a voluntary basis, including 220 regional
craftsmen's corporations, 39 national professional craftsmen's corporations and
20 county associations

Major Aims and Objectives of IPOSZ


• Protecting and enforcing the interests of micro and small-sized
enterprises, and crafts,
• Creating the most appropriate economic environment for them and
boosting their efficiency in order to increase their competitiveness and
market share, as well as providing them with opportunities to get access to
the most beneficial resources;
• Developing domestic service systems and operating them directly and
through member organisations (craftsmen's corporations and professional
associations);
• Developing and operating an EU-compliant national IT and service
system;
• Co-ordinating the professional pre- and further training of micro and small-
sized enterprises, and crafts at an EU level; and
• Co-ordinating and representing the international professional relationships
and interests of such enterprises, and assisting them in gaining access to
foreign markets.

H-1054 Budapest, Kálmán Imre utca 20


Phone: + 36 1 351 3140 / +36 1 351 3141 Fax: + 36-1 269 2957
Email: titkarsag@iposz.hu

2. Hungarian Foundation for Self-Reliance /Autonómia Foundation (AA)


The Hungarian Foundation for Self-Reliance was founded in 1990, at the
beginning of Hungary's transition to democracy. Its mission has been to

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contribute to the emergence and support of the non-profit sector, through a


number of different programs, with a special focus on the Roma community. This
has been achieved through support to local civil initiatives, which mobilize also
the resources of the community. Autonómia's activity focuses on the following
fields:

• Leadership training
• Project management and project planning training
• Small enterprise development
• Support to local Roma community houses
• Support to local economic initiatives by a combination of grants and loans
and mentoring
• Employment creation
• Promotion of cooperation between the members of the Roma and Non-
Roma community
• Strengthening of Tolerance

Ms. Anna Csongor, Executive Director


1137 Budapest, Pozsonyi út 14. II/9.
Telefon: (+36 1) 237-6020 Fax: (+36 1) 237-6029
E-mail: autonomia@autonomia.hu , a.csongor@autonomia.hu

Financial institutions and intermediaries for SME support

1. Hungarian Foundation for Enterprise Promotion


The Hungarian Foundation for Enterprise Promotion was founded in 1990 with
the objective to promote the establishment and development of the Hungarian
SMEs. Besides that, Its main objective is to prepare SMEs for the EU accession.
HFEP has been participating in the implementation of many Phare programmes,
and has co-ordinated the distribution of more than 20 billion HUF European
Union financial aid to several 10 thousands of beneficiaries. Both SMEs and
SME development institutions were granted. In the framework of the HU9906-01
Phare programme, which was the last programme co-ordinated by HFEP
between 2001 and 2003, more than 3,5 billion HUF was disbursed from
Hungarian and from European Union sources. The results of this programme: -
Services of Basic information, basic advice and basic trainings for 40 000
entrepreneurs - Microcredits for around 4000 entrepreneurs - Non-refundable
support for 130 entrepreneurs for marketing and product development purposes -
Non-refundable support for 20 incubation houses for providing new and high
level services - Support for building a new incubation house - 27 SME promotion
programmes for about 15 000 entrepreneurs

Mr. László Molnár, Managing Director


1519 Budapest, 112 Pf: 391

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tel: +36 1 481-46-00 fax: +36 1 481-46-01


e-mail: info@mva.hu Website: www.mva.hu

2. MEHIB Hungarian Exports Credit Insurance Co


The Hungarian Export Credit Insurance Pte Ltd. (MEHIB) was established in
1994. The owner's rights are exercised on behalf of the Hungarian State directly
by the Hungarian Privatisation and State Holding Company Ltd. (25%+1 vote)
and indirectly by the Hungarian Development Bank Ltd. (75%-1 vote) as a
shareholder. The paid-in capital of the company is HUF 4.25 billion. Its business
operations are conducted on the basis of the severally amended Act XLII of 1994
and of Government Decree 312/2001 (XII. 28.) as well as on the basis of the Act
on insurance. MEHIB's aim is to share the financial risks of export and inland
transactions, to encourage and promote the external economic relations with
special emphasis on the exports of Hungarian commodities and services, on
strengthening the external competitiveness of exporters and on facilitating the
credit availability for the exporters.

Mr. Iván Nyiri, General Director


Nagymezö u. 44 H-1065 Budapest
Tel: (+ 36-1) 374 9200 Fax: (+ 36-1) 269 1198
Email: info@mehib.hu Website: http://www.mehib.hu

3. INNOSTART National Business and Innovation Centre


Innostart contributes to the development of innovative small- and medium sized
enterprises and their products, the improvement of their services and the
identification of available resources through consultancy, Business Angel Club
and its international projects. During the process of formulating the conditions for
better project management, INNOSTART established the Business Angel Club,
jointly with the Hungarian Innovation Association in 2000, which, after due
preparation, convenes on a regular basis.
The Business Angel is a private investor who obtains equity in the enterprise.
Besides providing financial support to the enterprise they actively participate in
the formulation of the company's strategy, its operative management and exploit
their contacts for the sake of company growth.

INNOSTART contributes to the operation of the club with a number of services.


• Compilation of an information database both about the business angels
planning to invest and the enterprises offering projects to be financed;
• Providing consulting opportunity (advice, preparation of business plan,
partner service, preparation of proposals, etc.) for entrepreneurs.

Dr. Tivadar Lippényi, Director


Fehérvári ut 130H-1116 Budapest
Phone: (+ 36-1) 382 15 05 Fax: (+ 36-1) 382 15 10
E-mail: lippenyi@innostart.hu Website: www.innostart.hu

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4. Hungarian Venture Capital and Private Equity Association


The Hungarian Venture Capital and Private Equity Association (HVCA)
represents virtually every major source of funds and expertise of private Equity in
Hungary and is dedicated to promoting the venture capital and private equity
industry for the benefit of funds, entrepreneurs, private Equity professionals and
the economy as a whole. The Association aims to promote the development of
the industry, and to create a set of rigorous professional and ethical standards for
its member companies to follow. The members involve all the important investors
or advisors in the sector dealing with non-quoted companies.

1051 Budapest, Nádor u. 32. Hungary


Tel: +36-1-475-0924
Fax: +36-1-475-0925
E-mail: hvca@hvca.hu Internet: http://www.hvca.hu/

Contact points for sales, export-import, cooperation and joint-ventures

1. Hungarian Investment and Trade Development Agency


The Hungarian Investment and Trade Development Agency (ITDH), founded in
1993, is a support institution of the Ministry of the Economy and Transport. ITDH
is to liaise between foreign business partners and Hungarian entrepreneurs,
institutions of central and regional administration. Its formal and informal contacts
with state administration and participants in the market developed during the past
few years ensure a prominent position among companies of a similar profile.
ITDH is an organisation
• following European models in its construction;
• having an extensive network of offices both in Hungary and abroad, as
well as an extensive data base;
• focusing on the enhancement of investment and trade development;
• of a non-profit character;
• providing information, consulting and services.

Mr. Ödön Király, Managing Director


H-1061 Budapest, Andrássy út 12. HUNGARY
Phone: +36-1-472-8100 Fax: +36-1-472-8101
Email: INFO@ITD.HU Website: www.itdh.hu

2. Hungarian Chamber of Commerce and Industry


Péter Dunia, Secretary General
H-1055 Budapest
Kossuth tér 6-8
Phone: (+ 36-1) 474-5120 Fax: (+ 36-1) 474-5123
E-mail: mkik@mkik.hu Website:www.mkik.hu

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Ireland

Chamber and governmental organisations

1. Chambers of Commerce of Ireland


CCI represents 55 local Chambers throughout Ireland. It is the Irish member of
Eurochambres. It aims to promote and encourage business and to represent its
members’ interests with government and semi-state organisations.

17 Merrion Square, Dublin 2, Ireland


Phone: + 353 1 661 2888 Fax: + 353 1 661 2811
E-mail: info@chambers.ie Website: http://www.chambers.ie

2. Department of Enterprise, Trade and Employment


The principal Department of central government has the responsibility for
enterprise policy. Its responsibilities include (among others) industrial
development policy, company and patents law, competition policy, trade policy,
manpower policy and employment conditions.

Department of Enterprise, Trade & Employment,


23 Kildare Street, Dublin 2.
Telephone: +353 1 631 2121 LoCall: 1890 220 222 Fax: +353 1 631 2827
E-Mail: info@entemp.ie

3. County Enterprise Boards (CEBs)


There are 35 County and City Enterprise Boards (CEBs), located all over the
country. The role of the Boards is to develop indigenous enterprise potential, to
stimulate economic activity at local level and to promote micro-enterprises (10 or
fewer employees).. This support includes business advice, financial assistance
and management training.
The CEBs, which were established in October 1993, are companies limited by
guarantee. The Boards are divided into two regions the South and East (S&E)
and the Border, Midlands and West (BMW.)
The Boards provide a source of support for small businesses, by fostering an
awareness of an enterprise culture. This awareness is highlighted through the
formulation of enterprise plans for their areas. The Boards play an important role
in assisting businesses and the development/ expansion of micro enterprises,
helping to bring them to the stage where they can avail of the services of
Enterprise Ireland (The state agency with responsibility for the promotion of
indigenous Irish businesses.)
An important feature of the CEBs is that they include representatives of all the
main sectors in the local community, including social partners, representatives
from the county council, state agencies and local voluntary groups.
Funding for the boards during the period 2000-2006 is being provided under the
National Development Plan (NDP). Part of this funding comes from the

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Exchequer and part from the European Regional Development Fund. This
involves an overall spend of €212.4 million in the South & East Region, and
€122.6 million to the Border, Midlands and West Region under the Micro-
enterprise Measures.
The CEBs form part of the Local Enterprise Development Sub-Programme of the
BMW & the S&E Operational Programmes of the NDP and will continue to
support the development of micro-enterprises at local level. Under the
programme, there has been a move to softer forms of support i.e. advice,
mentoring and management development rather than financial aid. There is also
be a shift to repayable forms of assistance (equity, refundable grants); and
priority is being given to manufacturing and internationally traded services, which
over time could develop into strong export entities.

Department of Enterprise, Trade & Employment,


23 Kildare Street, Dublin 2.
Telephone: +353 1 631 2121 LoCall: 1890 220 222 Fax: +353 1 631 2827
E-Mail: info@entemp.ie

4. Forfas
Established in 1994, Forfás is the national policy and advisory board for
enterprise, trade, science, technology and innovation. Forfás provides the
Department of Enterprise, Trade and Employment (DETE) and other
stakeholders with analysis, advice and support on issues related to enterprise,
trade, science, technology and innovation; including on the development and
coordination of the enterprise development agencies, IDA Ireland, Enterprise
Ireland, Science Foundation Ireland (SFI) and other bodies as the Minister may
designate.
Forfás’ mission is to inform and to build coalitions for change which will influence
and underpin implementation of ambitious, coherent and widely understood
enterprise, science and innovation policies.These policies will promote
competitiveness and support creative and dynamic management teams and
individuals to establish and grow innovative and successful companies in Ireland.
In this way, Forfás and its sister agencies will support Government in improving
the economic opportunities for Ireland’s people and, ultimately, in delivering
higher standards and quality of life for all

Wilton Park House, Wilton Place, Dublin 2, Ireland


Tel: +353 (0)1 6073000 Fax: +353 (0)1 6073030
Email: info@forfas.ie Internet: www.forfas.ie

SME Advisory Services and Business Information Centres

1. Enterprise Ireland
Enterprise Ireland is the Irish state development agency focused on transforming
Irish industry. The core mission is to accelerate the development of world-class
Irish companies to achieve strong positions in global markets resulting in

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increased national and regional prosperity.Through the extensive network of 13


Irish offices and 33 international offices, they work with the clients to assist them
to compete and to grow. The focus, for Irish companies, is on five main areas of
activity: Achieving export sales; investing in research and innovation; competing
through productivity; starting up & scaling up and driving regional enterprise.
They also provide assistance for international companies who are searching for
world-class Irish suppliers and we can help international companies who want to
set up food and drink manufacturing operations in Ireland.

Enterprise Ireland,
Glasnevin, Dublin 9.
Tel: +353 1 808 2000 Fax:+(353 1) 808 2020
Internet: www.enterprise-ireland.com

2. Irish Business and Employers Confederation (IBEC)


The Irish Business and Employers Confederation (IBEC) provides a wide range
of services to over 7,000 member businesses and organisations from all sectors
and of all sizes. It is the umbrella body for Ireland’s leading sectoral groups and
associations and the national voice of Irish business and employers
IBEC works to shape policies and influence decision-making in a way that
develops and protects members' interests and contributes to the development
and maintenance of an economy that promotes enterprise and productive
employment. We represent our members' interests to Government, state
agencies, the trade unions, other national interest groups, and the general public.
Through our Brussels office, the Irish Business Bureau (IBB), IBEC works on
behalf of business and employers at European level to ensure that European
policy is compatible with our own objectives for the development of the Irish
economy.
Economic affairs, employee relations, pay, employment, taxation, competition,
the environment, trade, transport, sectoral matters -these are just some of the
wide range of issues on which we work and serve our members on a daily basis.
We develop and review policy on such topics through consultation with our
members, undertaking our own research, and seeking expert advice and opinion.

Confederation House
84/86 Lower Baggot Street, Dublin 2
Tel: (01) 605 1500 Fax: (01) 638 1500
Internet: www.ibec.ie

3. Irish Small and Medium Enterprises Association (ISME)


While the members are employers, ISME represents them in the totality of their
business relationships. The Association's strength rests in the combined
experience of its members and it seeks to harness that resource for the
betterment of all members. The members’combined purchasing power enables
ISME to reduce individual costs through better purchasing and group discount
schemes. Training and Management Development programmes are staged

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throughout the year on such topics as credit control, cost reduction, employee
assessment and strategic planning. Member participation is encouraged, with
opportunities for companies to meet and discuss business and other related
issues. This facility is provided by regional business briefing sessions that bring
members up to date on issues pertaining to the profitability of their businesses.

17 Kildare Street, Dublin 2


Tel: (01) 662 2755 Fax:(01) 661 2157 or (01) 661 0517
E-mail: info@isme.ie

4. Small Firms Association (SFA)


The Small Firms Association (SFA) is the national organisation exclusively
representing the needs of small enterprises in Ireland. The SFA provides
economic, commercial, employee relations and social affairs advice and
assistance.With over 8,000 member companies, the SFA secures the best deal
for small firms by providing dedicated professional support and by offering an
unparalleled range of services to members.

Confederation House
84-86 Lower Baggot Street, Dublin 2
Tel: 01 6051602 Fax: 01 6381602
E-mail: patricia.callan@ibec.ie

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Italy

Governmental organisations

1. Ministry of Productive Activities


The Ministry of Productive Activities is responsible for the grant laws applied to
firms in the industry, commerce and craft sectors.
2, via Molise, 00100, Roma, Italy
Phone: + 390647051
Website: http://www.minindustria.it

2. Ministry of Economy and Finance – Department for Development Policy


The Ministry of Economy and Finance is responsible for the economic and fiscal
policy in Italy.
2, via XX Settembre, 00187, Rome, Italy
Phone: + 39064742102
Website: http://www.tesoro.it

3. Ministry of Instruction, University,Scientific and Technological Research


The Ministry responsible for the policy for technological innovation amongst
enterprises, and is in charge of the grant laws sustaining R&D activities.

20, Piazzale Kennedy, 00144, Roma, Italy


Phone: + 390659912320 Fax: +390659912850
Website: http://www.murst.it

4. Ministry of Welfare, Labour and Social Policies)


The Ministry of Welfare, Labour and Social Policies is responsible for labour
market and employment policies in Italy and is in charge of the employment
grants and incentives.

00187 Rome (Italy)


Phone: +39064683.1 Fax: +390647887204
Website: www.minlavoro.it

SME Advisory Services and Business Information Centres

1. The Institute for Industrial Promotion


The IPI is a Government agency specialized in promoting growth and
competitiveness of production and economic systems in an international
globalized context, that imposes the adoption of innovative systems of
governance intended to seize the opportunities offered by increasingly larger and

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more competitive markets, as well as valorizing special territorial characteristics


with particular regard to the SMEs system.
The Institute's operations are oriented towards the following strategic objectives:
• To respond to the needs of the Italian Public Administration and the
Governments of Partner Countries relative to the definition and
management of sectorial, factorial and territorial policies, and other
instruments for development and competitiveness of productive systems,
with particular reference to the system of SMEs.
• To intervene in the planning, realization and management of programs,
system actions and tools aimed in supporting the development of
entrepreneurs, as well as safeguarding consumers, guaranteeing the
effective and transparent use of dedicated Community, national and
regional financial resources.
• To manage systems at a national and international level that favor the
access of industrial businesses to innovation, promoting the creation,
rationalization and integration of centers for research, innovation and
technology transfer, services and training, as well as qualifying the
interventions of intermediaries subjects.
• To operate in the context of international, multilateral processes of
industrial cooperation activated by international bodies and those bilateral
processes promoted by the Italian Government with the objective of
creating environments favorable to the development of relations between
different productive systems and extending the areas of shared prosperity.

IPI - Istituto per la Promozione Industriale


Viale M. Pilsudski, 124, 00197 ROME – Italy
Tel. +39 06 809721 - Fax +39 06 8072898
E-mail: info@ipi.it Internet: www.ipi.it

2. Guglielmo Tagliacarne Institute


Guglielmo Tagliacarne Institute is a research and training organisation of Italian
Chambers of Commerce. It is responsible for the DIT program (technological
innovation diffusion program) for the SMEs of the food and beverage sector in
South Italy.

62, via Appia Pignatelli, 00178 Roma, Italy


Phone: + 3906780521 Fax: +390678052352
Website: http://www.tagliacarne.it

3. Industrial Districts Club


The aims of the club are
• to promote links, exchange of information and experience between the
various Italian economic systems sharing the characteristics of an
industrial district;
• to promote relations with the decision-making centres of industrial politic,
both at a local and national level;

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• to promote international relations with other districts, economic and


cultural organizations;
• to promote studies and research in the field of economy and links with
institutional, economic, cultural and scientific operators also in order to
encourage widespread awareness of the policies necessary for the
development of local systems;
• to promote image and communicate the reality of Italian industry based on
industrial districts;
• to promote initiatives and services of common interest to the members.

Club members may be industrial or craft associations representing a sector,


unions, Chambers of Commerce, Company service centres and other
organisations that run their business at a local level and which are involved with
local systems. Twenty-eight industrial districts are currently associated with the
Club, that total 30 thousand companies with over 250 thousand employees
generating a global turnover in the order of 30 billion dollars (almost 40% of the
total turnover of the Italian districts). The principle sectors of Italian products are
represented: wool textiles, taps and fittings, clothing, glasses, silk textiles,
metalwork, furniture, food and fruit, cork, ski boots and sports footwear, leather
goods and footwear, goldsmith.

Confindustria Veneto - Via Torino, 151/C - 30172 Mestre (VE


Tel. +39 041 2517511 Fax +39 041 2517574
E-mail: info@clubdistretti.it Internet: www.distretti.org

Financial Institutions and Intermediaries for SME support

Mediocredito Centrale SpA


Mediocredito Centrale SpA is an investment bank, which is in charge of some
grant laws for enterprise investments.
Via Piemonte, 51 - 00187 Roma
Tel. +39 06 47911 Fax +39 06 4791 3130
E-mail: mcc@mcc.it Internet: www.mcc.it

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Latvia

1. Hansabank
On 19 February 2003, Hansabank and German Kreditanstalt für Wiederaufbau
(KfW) concluded a loan agreement for crediting Estonian and Latvian small and
medium-sized enterprises. The special programme for SMEs is supported by the
European Commission.
The size of the credit line in Estonia is € 10 million and in Latvia € 15 million.
Companies can apply for a loan through Hansabank branches.
Tallinn, Liivalaia 8, 15040
tel +372 6310 310 fax +372 6310 410
E-mail: hansa@hansa.ee
Internet: http://w.hansa.ee/eng/arikliendile_pikaajaline_vaikekeskmine.html

2. Latvian Chamber of Commerce and Industry


Latvian Chamber of Commerce and Industry (LCCI) is a non-governmental,
voluntary organisation uniting Latvian companies of different sectors. The aim of
the organisation is to create favourable business environment, represent
economic interests of Latvia's enterprises and offer business promotion services.
LCCI represents business interests through a dialogue with national and local
governments and participates in the drafting of commercial legislation in Latvia.

Kr. Valdemāra Street 35, Riga, LV-1010


Tel.: +371 7225595 Fax: +371 7820092
E-mail: info@chamber.lv Internet: www.chamber.lv

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Lithuania

1. Agency for International Science and Technology Development


Programmes
Established by Governmental Decree, Agency for International Science and
Technology Development Programmes under the Ministry of Science and
Education is responsible for administration and coordination of the EU Sixth
Framework Programme, EURATOM, Security Research Programme, EUREKA,
as well as other programmes and activities in Lithuania related to international
science, research and technology development. The Agency also participates in
science, technology and innovation policy formulation, plays an active role in
offering proposals to the Lithuanian legislation to facilitate and strengthen
Lithuania’s participation in international programmes for R&D. The Agency
works to ensure cooperation between academic and industrial communities by
promoting participation in EU research and technology development projects as
well as promotion of science and research activities to the public at large.

A. Gotauto 12-219, LT-1108 Vilnius


Tel: +370-5-2644704 Fax: +370-5-2312292
Email: e.puciute@ktl.mii.lt Web: http://www.tpa.lt

2. The Lithuanian Development Agency for Small and Medium Sized


Enterprises (SMEDA)
SMEDA was founded in 1996 as a non-profit organisation seeking to create
favourable conditions for development of small and medium - sized business. In
July 1997 SMEDA was reorganised into a public institution.
The owner and the highest managing authority of SMEDA is the Ministry of
Economy of the Republic of Lithuania. Collegiate managing authority, that
coordinates the activities of SMEDA, is the Board. SMEDA’s mission is the
development of small and medium business through the promotion and
encouragement of competitive enterprises.
SMEDA is responsible for:
• analysis of the economic environment for small and medium -
sized business development in Lithuania,
• updating and disseminating information on small and medium -
sized business development in Lithuania,
• production and distribution of publications for Lithuanian entrepreneurs,
• provision of information regarding business funding opportunities,
• collection and analysis of statistical information relevant to small and
medium - sized business,
• management of the SMEDA’s Web Portal and the Internet Supply
Exchange,

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• production and distribution of monthly bulletins for the business


community,
• organization and management of subsidised counselling and training
services for entrepreneurs,
• provision of methodological support and information, co-ordination of the
activities of state supported Business Information Centres and Business
Incubators,
• participation in national and international programmes and projects.

SMEDA, Žalgirio str. 92, LT-09303 Vilnius, Lithuania


Tel: (+370 5) 2051237 Fax: (+370 5) 205 12 46
Internet: www.smeda.lt

3. The Association of Lithuanian Chambers of Commerce, Industry and


Crafts
Association of Lithuanian Chambers of Commerce, Industry and Crafts (ALCCIC)
is a voluntary union of Chambers of Commerce, Industry and Crafts. In fact the
Association represents national interests of the local Chambers.

J.Tumo-Vaižganto g.9/1-63a, Vilnius, Lithuania,


tel. +370 (5) 2612102, +370 (5) 2612112
Internet: www.chambers.lt

For additional Funding Resources in Lithuania look at:


http://www.smeda.lt/index.php/en/29752/

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Luxemburg

Governmental organisations and chambers

1. Ministry for Small and Medium-Sized Businesses


The Ministry for Small and Medium-Sized Businesses is responsible for the
implementation of the policy of Small and Medium-Sized Businesses (SMEs) in
co-operation with other Ministries or administrations.

Avenue Emile Reuter, 937 Luxembourg, Luxembourg


Phone: +352 478 4717 / 4711 Fax: +352 478 4740
Website: http://www.etat.lu/tourisme

2. Chamber of Skilled Craft Industries


The Chamber of Skilled Craft Industries, as a professional chamber, registers
SMEs of the craft sector and gives direct advice and information, organises
training sessions and awareness campaigns for SMEs on a national level.

2, circuit de la Foire Internationale, B.P. 1604, 1016 Luxembourg, Luxembourg


Phone: +352 42 67 67 229 Fax: +352 42 67 87
Website: http://www.chambre-des-metiers.lu

3. Chamber of Commerce
The Chamber of Commerce, as a professional chamber, registers enterprises in
the industry, retail trade and commerce, Horeca, service and transport sector and
gives direct advice and information, organises training sessions and awareness
campaigns for enterprises on a national level.

7, rue Alcide de Gasperi, 2981 Luxembourg, Luxembourg


Phone: +352 42 39 39 1 Fax: +352 43 83 26
Website: http://www.cc.lu

SME Advisory Services and Business Information Centres

Federation of enterprises in the industrial sector


The FEDIL is the professional organisation representing the interests of the
enterprises belonging to the industrial sector
7, rue Alcide de Gasperi - Luxembourg/Kirchberg - BP 1304 - L-1013
Luxembourg
Tél.:+352 43 53 66-1 Fax:+352 43 23 28
E-mail: fedil@fedil.lu Internet:http://www.fedil.lu

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Financial Institutions and Intermediaries for SME support

1. Société Nationale de Crédit et d'Investissement (SNCI) (National Credit


and Investment Corporation)
The SNCI is a public bank specialised in investment and export finance ; its field
of activity is confined to medium and long-term operations and excludes short-
term banking business ; SNCI grants equipment loans to commercial and craft
enterprises as well as innovation loans. SNCI is a bank specializing in medium
and long term financing of investments made by Luxembourg based companies.
SNCI’s financing instruments are investments in fixed assets, innovations and
exports.
SNCI also grants start-up loans to newly incorporated SME’s. It may also finance
investments of Luxembourg companies abroad.
SNCI may take equity positions, either directly or through its subsidiary CD-PME
S.A., or by affiliated financing companies (EUREFI or New Tech Venture Capital
Fund II).

7, rue du St. Esprit (Centre du St. Esprit), B.P.1207, 1012 Luxembourg,


Luxembourg
Phone: +352 46 19 71 1 Fax: +352 46 19 79
E-mail: snci@snci.lu Webside: http://www.snci.lu

2. LUXINNOVATION GIE
As a national agency, Luxinnovation GIE guides enterprises, especially SMEs, in
the framework of their innovation projects. Luxinnovation is the National Agency
for Innovation and Research and the first-stop shop for research and innovation
in Luxembourg. Founded in 1984, Luxinnovation became an Economic Interest
Grouping (EIG) in 1998
Its activities are:
• Promotion of national research
• European research programmes
• Technology clusters
• Technology transfer
• Starting an innovative business
• Encouraging innovative skilled-craft businesses
• Vocational training
• Intellectual property and technology watch
• Organisational innovation

7, rue Alcide de Gasperi, 2981 Luxembourg, Luxembourg


Phone: +352 43 62 63 1 Fax: +352 43 81 20
Website: http://www.luxinnovation.lu

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Contact points for sales, export-import, cooperation and joint-


ventures

Export Insurance Agency


The Export Insurance Agency is a public organisation and has as an aim to
encourage international economic relations by covering risks in the area of
exporting, importing or foreign investment ; it can also cover import transactions,
leasing operations and banking risks related to the approval of letters of credit.

7, rue Alcide de Gasperi, 2981 Luxembourg, Luxembourg


Phone: +352 42 39 39 320 Fax: +352 43 83 26
Website: http://www.cc.lu

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Malta

1. Malta Enterprise
Malta Enterprise is government’s exclusive agency focused on attracting inward
investment and supporting enterprise in Malta. Its role is to act as a single point
of contact for all enterprise support in Malta and to provide cohesion to
government policies and efforts relating to enterprise in this country. Malta
Enterprise provides a comprehensive package of assistance and advisory
services to international companies and investors considering operations in
Malta. These include professional pre-investment advice and support, start-up
assistance as well as a suite of post investment services and aftercare facilities.

Malta Enterprise
Enterprise Centre, Industrial Estate, San Gwann SGN 09, Malta
Tel: +356 2542 0000 Fax: +356 2542 3401
Email: info@maltaenterprise.com Internet: www.maltaenterprise.com

2. Malta Financial Services Authority


The Malta Financial Services Authority (MFSA) is the single regulator for financial
services activities in Malta. It regulates and supervises credit and financial
institutions, investment, trust and insurance business and also houses the
country's Companies Registry. The MFSA issues guidance notes, monitors local
and international developments, works with relevant parties on legislative
matters, and plays a major role in training. It encourages high standards of
compliance and runs a consumer affairs unit.
Notabile Road, Attard – Malta
Tel: (+356) 21 441 155 Fax: (+356) 21 441 188
E-mail: info@mfsc.com.mt Web site: http://www.mfsc.com.mt

3. Central Bank of Malta


Castille Place, Valletta CMR 01
Tel: (+356) 2550 0000 Fax: (+356) 2550 2500
E-mail: info@centralbankmalta.com Web site: http://www.centralbankmalta.com/

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Netherlands

Governmental organisations and chambers

1. Ministry of Economic Affairs


The Ministry of Economic Affairs is in charge of the majority of supporting
measures for SMEs.

P.O. Box 20101, NL - 2500 EC Den Haag


Phone: + 31 70 379 6018 Fax: + 31 70 379 6169
Website: http://www.minez.nl

2. Ministry of Social Affairs and Employment


The Ministry of Social Affairs and Employment is in charge of employment policy.

P.O. Box 90801, NL - 2509 LV Den Haag


Phone: : +31 70 333 4444 Fax: +31 70 333 4033
Website: http://www.minszw.nl

3. Chambers of Commerce
The Chambers of Commerce maintains the trade registry, issue licences in the
framework of the business-establishment act, promote their members' interests in
their region, and render information and advice on a large number of fields, i.e.
subsidies, training, ex-port, infrastructure, licences, etc. Chambers of Commerce
are located throughout the Netherlands.

P.O. Box 265, NL - 3440 AG Woerden


Phone: +31 348 42 6911 Fax: + 31 348 42 6216
Website: http://www.kvk.nl

SME Advisory Services and Business Information Centres

1. The Royal Association of MKB-Netherlands


With some 135 trade organisations and 250 regional and local business
associations, MKB-Nederland is both big and fast-growing. MKB-Nederland
protects the interests of around 186,000 entrepreneurs.
On behalf of all of these entrepreneurs, MKB-Nederland negotiates and consults
with national, European, provincial and local governments, social partners and
others. This makes the umbrella organisation the mouthpiece for the Dutch
business community. MKB-Nederland includes among its tasks making existing
rules and regulations more entrepreneur-friendly and, in particular, initiating new
policy tailored to changing circumstances in the small and medium-sized
enterprises (SME) sector. The SME sector benefits greatly from a healthy
business climate. A combination of all entrepreneurial forces is of decisive

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importance to achieving this. In MKB-Nederland, that combination of forces is a


fact.
The members of MKB-Nederland can count not only on the effective protection of
their interests, but also on actual support. They are directly involved in all
national activities of MKB Nederland and can make use of the facilities offered by
MKB-Nederland under favourable conditions. Members are given information that
is selected by the importance to their own activities. MKB-Nederland 'translates'
developments concerning laws and regulations into the specific interests of the
affiliated organisations. Trade organisations, regional organisations and local
business associations receive an information bulletin every two weeks. All
entrepreneurs also receive the monthly magazine Ondernemen!, or 'Enterprise!'
Membership of MKB-Nederland enables trade organisations and their members
to make use of the facilities that this interest group offers the SME sector. Trade
organisations can make use of the services offered by the Working Conditions
Office, for example. This office can draw upon the knowledge and experience of
a team of advisors that assist branches of industry in the areas of employment
conditions and labour law. By providing advice on (or conducting) collective
bargaining agreement (CBA) negotiations with unions or updating the
employment conditions, for instance. External projects in collaboration with
subsidy or funding providers are developed at MKB-Nederland's Project Office.

Brassersplein 1 P.O. Box 5096, 2600 GB Delft, The Netherlands


Telephone: 015-2191212 Fax: 015-2191414
E-mail: redactie@mkb.nl Website: www.mkb.nl

2. EIM Business & Policy Research (EIM BV)


EIM Business & Policy Research (EIM BV) is an independent research and
consultancy organisation based in the Netherlands with about 80 regular
employees. It forms part of Panteia. All the researchers and consultants of EIM
are university graduates. EIM has been carrying out policy research on
enterprise issues for 75 years in various fields such as entrepreneurship and
business development, employment, ICT, innovation, internationalisation and
administrative burdens. We provide our clients with the information and analysis
necessary to develop; monitor and evaluate their policies. In addition EIM offers
advice and assistance when implementing such instruments and policies. Our
clients include international, national, regional and local governments and
intermediary organisations. Examples of foreign clients are: the European
Commission, the OECD and the World Bank. On behalf of the Ministry of
Economic Affairs EIM carries out the programme "SMEs and entrepreneurship".

EIM, Italiëlaan 33 , P.O. box 7001, 2701 AA Zoetermeer, The Netherlands


Tel: +31 79 343 02 00 Fax: +31 79 343 02 02
E-mail: info@eim.nl

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3. Technocentra (Techno centres)


Techno centres are strategic alliances between private enterprise, training
institutions and other organizations; in brief, a regional hub marked by high-tech
know-how and information.
Website: http://www.technocentra.nl

4. Entrepreneurial Sounding-Board Foundation (OKB)


The OKB (Entrepreneurial Sounding-Board Foundation) was established some
20 years ago. Being an independent organization, the OKB provides practical
know-how and advice to small and medium-sized enterprises. Drawing on many
years' experience gained in private enterprise as entrepreneurs, directors or
managers, the approximately 225 advisors provide free-of-charge know-how and
exper-tise. Ensuring complementary skills, the advisors operate in 26 regional
multi-disciplinary teams.

P.O. Box 93002 NL-2509 AA Den Haag


Phone: +31 70 349 0600 Fax: +31 70 349 0675
E-mail: info@ondernemersklankbord.nl
Web: http://www.ondernemersklankbord.nl

5. Vereniging VNO-NCW (VNO-NCW Entrepreneurial Association)


Being the largest entrepreneurial association in the Netherlands, VNO-NCW
promote the collective interests at national and international level of private
enterprise in the Netherlands. Besides, VNO-NCW render various services to
members. Enterprises and sectoral organizations associated to VNO-NCW
represent 80 per cent of employment in the Dutch market sector.
VNO-NCW strives to represent its members' interests by promoting a high quality
business environment and investment climate in the Netherlands, with a view to
boosting the competitiveness of Dutch industry. VNO-NCW's involvement
extends to matters relating to education, infrastructure, public finances, taxation,
the environment and social security. VNO-NCW also consults with the
government regularly on behalf of Dutch industry. To help it represent the
interests of Dutch business in the European Union, VNO-NCW has its own office
in Brussels. It is also a member of the European employers’ organisation and
actively participates in the policy-making of this body. At an international level,
VNO-NCW represents Dutch companies in the Geneva-based International
Labour Organisation (ILO) and, through the BIAC, in the OECD, the collaborative
association of Western industrialised nations. VNO-NCW also has its own
representatives in dozens of countries around the globe.
A key part of the services provided by VNO-NCW consists of the large volume of
up-to-date information it maintains relating to business and industry. This
information covers the entire socio-economic, economic, financial, fiscal, legal
and ecological spectrum. VNO-NCW’s provision of rapid, reliable and customised
information allows companies to exploit relevant developments at an early stage.
VNO-NCW’s written publications (e.g. Weekly Bulletin, Forum) are a key part of
this service.

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P.O. Box 93002, 2509 AA The Hague


Phone: +31-(0)70 349 03 49 Fax: +31-(0)70 349 03 00
E-mail: informatie@vno-ncw.nl Internet: www.vno-ncw.nl

Contact points for sales, export-import, cooperation and joint-ventures

1. Export-Information Centre (EVD)


The EVD furnishes information and advice with regard to international business
activities. EVD Programmes: project-based, financial support consists of a
number of schemes and programmes supporting specified sectors and
businesses on a project-by-project basis. The programmes also involve
international cooperation in emerging economies. Our support is not limited to
financing; it also contributes the expertise that businesses, public and private-
sector institutions and potential trade partners need to succeed.

P.O. Box 20105, NL - 2500 EC Den Haag


Phone: + 31 70 778 8888 Fax: + 31 70 379 7858
Website: http://www.evd.nl

2. Netherlands Trade-Promotion Centre (NCH)


The NCH is a centre providing know-how, expertise and contacts to NCH
members while focusing on international trade. Members of NCH consist of large
as well as small and medium-sized enterprises. Members directly make use of
NCH's services and activities, and may capitalize on the global network built by
NCH over the past 50 years.

Bezuidenhoutseweg 181
NL-2594 AH Den Haag
Phone: +31 70-344 1544 Fax: +31 70- 385 3531
Website: http://www.handelsbevordering.nl

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Poland

1. Polish Chamber of Commerce


The Poland Import Export Chamber of Commerce on Line is an on line chamber.
Certain services are provided from Poland on a contract basis by an independent
company Internet Promocja.

Internet Promocja
ul. Wloscianska 8/58, 01-710 Warszawa, Poland
Tel: +48 (22) 529 77 72 or 74 / +48 508 127 892 Fax: +48 (22) 529 77 74
http://www.chamberofcommerce.pl/

2. Polish Craft Association


Represent mainly micro-enterprises in over 110 craft professions. The number of
service providers is growing but the number of manufacturing enterprises is
decreasing. The strongest craft branches are food-processing, automotive,
building industry, personal services and other services.

Związek Rzemiosła Polskiego, 00-246 Warszawa, ul. Miodowa 14


Tel: 022 50 44 200 Fax: 022 50 44 220
e-mail: zrp@zrp.pl Internet: www.zrp.pl

3. The Polish Agency for Enterprise Development (PAED)


PAED is a governmental agency subordinate to the Minister of the Economy. It
was established by the Act of 9 November 2000 on the establishment of the
Polish Agency for Enterprise Development. Its task is the management of funds
assigned from the State Budget and European Union for the support of
entrepreneurship and the development of human resources, with particular
consideration given to the needs of small and mediumsized enterprises (SMEs).
PAED is among the institutions responsible for the implementation of activities
financed from the Structural Funds.

00-834 Warsaw, POLAND, ul. Pańska 81/83


tel.: +48 22 432 80 80 fax: +48 22 432 86 20
e-mail: biuro@parp.gov.pl internet: www.parp.gov.pl

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Portugal

SME Advisory Services and Business Information Centres

1. AdI - Innovation Agency - Business Innovation and Technology Transfer


AdI is a service company, which aims to promote business innovation of a
technological nature, as well as drawing economic gain from the results of
scientific research and technological developments carried out in Portugal.

Av. dos Combatentes, 43 A - 10o C-D, 1600-042 Lisboa, Portugal


Phone: +351 21 721 09 10 Fax: +351 21 727 17 33
Website: http://www.adi.pt

2. AEP - Portuguese Business Association


The AEP - Portuguese Business Association is a nation-wide business
association, based in Oporto and founded in 1849, although the first statutes
date from 1838. In 1996, the Portuguese Business Association was recognised
as Chamber of Commerce and Industry for the Northern Region by the Order in
Council no. 58/96 of 22 February.
The AEP is responsible for developing a variety of activities, in particular a wide
range of business services, including trade fairs; exhibitions; congresses;
information and support for businesses; consultancy; vocational training; trade
missions; business and investment promotion; representation and defence of the
interests of its members; and reinforcing the role of business associations on
both national and international levels. AEP is a business association with a
national and multi-sector scope. Its mission consists on promoting, developing
and protecting the interests and activities related to businesses and associations.

Av. da Boavista, 2671, 4100 - 135 Porto, Portugal


Phone: +351 22 615 85 00 Fax: +351 22 617 68 40
Website: http://www.aeportugal.pt

3. AIP - Portuguese Industrial Association


The mission of this association is to create the conditions for developing the
competitive capacity of companies, by, among others, organising fairs and
exhibitions on both a national and international level.

Praça das Indústrias 1300-307 Lisboa, Portugal


Phone: +351 21 360 10 00 Fax: +351 21 363 90 47
E-mail: aip@aip.pt Website: http://www.aip.pt

4. Portuguese Confederation of Manufacturing and Construction


CIP represents association and business entities in manufacturing and
construction sectors.

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Av. 5 de Outubro, 35-1º, 1050 Lisboa, Portugal


Phone: +351 21 316 47 00
E-mail: ciplx@mail.telepac.pt

Financial Institutions and Intermediaries for SME support

1. SME Capital - Portuguese Venture Capital Society


Within a medium / long-term partnership relation, PME Capital provides
companies with experience, contacts and the necessary equity capital, with the
objective of promoting the creation and development of successful companies.

Av. Antunes Guimarães, 103, 4100-079 Porto, Portugal


Phone: +351 22 616 53 90 Fax: +351 22 610 20 89
E-mail: pmecapital@pmecapital.pt Website: http://www.pmecapital.pt

2. SME Investments - Investment Society


PME Investments supports projects, which aim at creating, developing and re-
vitalising business. It is prepared to support the carrying out of operations such
as development capital, start-up capital, MBO, MBI and financial services.

Av. Berna, 24, 7o Direito, 1050-041 Lisboa, Portugal


Phone: +351 21 799 42 60 Fax: +351 21 796 72 84
E-mail: geral@pmeinvestimentos.pt Website: http://www.pmeinvestimentos.pt

3. SPGM - Sociedade de Investimento (Investment Society)


SPGM is a financial society whose objective is to carry out financial transactions,
such as guarantees, obtaining financial resources, consulting services, among
others, in favor os its beneficiaries - SMEs.

Av. Columbano Bordalo Pinheiro, 86 - 1o, 1070-065 Lisboa, Portugal


Phone: +351 21 722 06 70 Fax: +351 21 722 06 79
E-mail: spgm.lx@spgm.pt Website: http://www.spgm.pt

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Romania

SME Advisory Services and Business Information Centres

1. Romanian Development Agency - Directorate General for SMEs


The Romanian Development Agency is a specialized central body, subordinated
to the Government, which acts as public administrator in the field of supporting
and developing SMEs. In carrying out these tasks, the Romanian Development
Agency has the following prerogatives:
• elaborates and carries out the programmes for developing SMEs;
• presents the Government, once every three years, proposals regarding
development strategies for SMEs;
• collaborates with ministries, other public administration specialized bodies,
central and local, governmental organizations and economic agents, with
the purpose to create a favorable framework for developing SMEs;
• drawing up or, if the case, reviewing proposed legislation referring to
SMEs;
• co-ordinates and confers, in cases and conditions provided for by
Government decision, facilities envisaged under present ordinance;
• organizes selections of SMEs to benefit of special programmes;
• structures and keeps record of granted facilities and their effect;
• presents an annual report to the Government regarding SMEs, which is
afterwards made public.
For carrying out its objectives, the Romanian Development Agency has the right
to obtain, free of charge, all data on SMEs from ministries, other governmental
organizations, offices of the Commercial Register.

Mr. Calin Razvan Siriteanu, Project Executive


7, Blvd Magheru
Bucharest
Phone: (+ 40-1) 613 8201 or 312 1432 or 615 4698
Fax: (+ 40-1) 312 0371 or 613 2415
www.rda.ro

2. Business Incubator Center M.Ap.N - Energie & Eko Pyt Srl


Business Incubator Center M.Ap.N - Energie & Eko Pyt Srl was created in 2003,
it a Romanian group of companies located in Bucharest. The group is interested
in promoting and implementing RES systems for different location. Generally
speaking, in Romania energo-geographical potential is situated up to medium (5-
12 m/s = 10-12M /h) in 60% of territory, but also small wind in the urban area.

Ioan PITICAR, Executive Manager

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Sos Oltenitei, No. 49, ap. 18, sect. 4


RO-041295 Bucharest Romania
Tel: +40 21 3372328 / +40 740081947 / +40 21 2420712 Fax: +40 21 3372328
Email: eekopyt@yahoo.com

3. The Trade and Technological Information Promotion System (TIPS)


The Trade and Technological Information Promotion System (TIPS), a project
sponsored by the United Nations Development Programme and implemented in
1986, is an international information network dealing with trade, technology and
investment opportunities, whose aim is to put into contact the most important
productive agents at local, regional and international levels by exchanging
information so as to foster entrepreneurial business transactions.
TIPS main objective is to provide a mechanism for the promotion of business
among small-and medium-sized enterprises, in order to help businesspeople to
reach decisions, buy, sell, contract services and consultants, incorporate
technologies, compare and evaluate options, learn about tendencies, and enjoy
better conditions for carrying on business.
At present TIPS is constituted of a central branch in Rome (International
Operations Centre), three Regional Centres and National Bureaux opened in
more than 30 countries all over the world, linked through a dedicated satellite
communication network. Thousands of companies are using the system to
disseminate their offers and requests and deals for millions of dollars have been
concluded by enterprises. ‘TIPS’ is an information bridge among companies from
everywhere, which creates more possibilities for developing world business.

Mr. Constantin Udrea, Director


4, Expozitiei bd, sector 1 Bucharest
Phone: (+ 40-1) 223 3270 Fax: (+ 40-1) 223 3272
E-mail: tips@ccir.ro
Website: http://www.devnet-romania.infoservice.ro/tips/network_i.html

4. Romanian Centre for SMEs Foundation (CRIMM)


CRIMM foundation was established in 1992 and it is non-governmental and
nonprofit. The objective of CRIMM is to support the SMEs sector for their local
social-economic development. The members are private entrepreneurs,
chambers of commerce, banking and financial institutions, local centers for SMEs
development, universities, professional associations, mass-media institutions.
CRIMM is registered in the Central Register of Consultants in Brussels starting
1996, having the number 20731. PHARE Programs for SMEs were administrated
by CRIMM.

Mr. Cristian Marandei, Director


20, Ion Campineanu Str., floor 3 Bucharest
Phone: (+ 40-1) 311 1995 or 311 1996 Fax: (+ 40-1) 312 6966
Email: crimm@imm.ro Website: http://www.imm.ro/eindex.html

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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5. Romanian-American Enterprise Fund


The Romanian-American Enterprise Fund (RAEF), through its investment advisor
Enterprise Capital, works with individuals, leading global companies and
institutions pursuing strategic investment opportunities in Romania and
neighboring countries. Through our private equity investments we manage
portfolios focused on growth and secure returns.Through our investment banking
services we advise others across a broad platform of advisory and capital market
services.

Romania: 33 Aviatorilor Blvd, Sector 1, 011853 – Bucharest


Phone: +40 (21) 207-7100 Fax: +40 (21) 222-8503
Email: RAEF@raef.ro Website: www.raef.ro

6. Centre for the Improvement of Management Performance


Centre for the Improvement of Management Performance is a non-governmental
Romanian management consultancy and training organization acting both on the
internal and external market. CIMP was set up in Bucharest in 1992 by the British
Government through the “Know-How” Fund. The other founding members are:
University of Hertfordshire-UK, Polytechnic University Bucharest, Ministry of
Trade and Industry and Romanian Development Agency. The actual President of
the Administration Board is the Romanian Ministry of Industry and Resources
representative. CIMP’S MISSION is to support its clients in their efforts to
continuously improve performance. Working along with them in implementing
state of the art management methods will enable CIMP to become the best
Romanian management consulting organization with international recognition,
ensuring both clients and own staff satisfaction.

1-3 Iuliu Maniu St., sector 6 Bucharest


Phone: (+ 40-1) 410 0173 or 410 6530 Fax: (+ 40-1) 411 1813
Email: mitud@mailbox.ro Website: www.cimp.pub.ro

7. Western IQ (Bucharest)
WESTERN IQ is a 8 years old independent Romanian private company, involved
in research, consulting and training projects, which participated in different Phare
programs, as well as in projects financed by Romanian Public Institutions, the
World Bank, USAID and USTDA. In the same time, WESTERN IQ has been
present on the Romanian market as a consultant for SMEs and large companies.
WESTERN IQ has 7 experts and more than 50 collaborators with large
experience in: scientific research, consulting, training, public relations, public and
local administration, international co-operation. WESTERN IQ has good
experience in project management and staff co-ordination. Explicitly stated in its
company status, WESTERN IQ Ltd. observes the European Standards for
consultant position. It is also a research company agreed by the Romanian
Ministry of Education and Research. Our competence in research concerns:
Science policy and innovation; Telework; New Economy; IT; New types of

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activities for elderly people; Romanian Integration in EU. It works as a consulting


company agreed by the Romanian Agency for Development. Our competence in
consulting concerns: SME feasibility studies, financing & joint ventures; social
strategies concerning unemployment; local/regional and lasting development;
staff planning, recruitment and selection; marketing evaluation; strategic planning
in information systems; advertising and public relations. TRAINING
EXPERIENCE Western IQ is a training company which also was an evaluator of
the training institutions in Romania.

Sfiintii Voievozi Str., flat 30 Bucharest


Phone/fax: (+ 40-1) 312 4125
Internet: www.wiq.ro

Financial institutions and intermediaries for SME support

1. Romanian Loan Guarantee Fund (RLFG)


The RLFG was created in 1993 by the State with Canadian, Austrian and Italian
advice. Through various capital increases, it has become a limited company
owned by Romanian financial companies. In this evolution, the institution has not
lost its spirit, which is the support of Rumanian SMEs via guarantees and
consultancy. RLGF has a single office in Bucharest but works on the whole
territory by means of co-operations with the Enterprise Development Centers,
Chambers of Commerce and Regional Development Companies, which
recommend RLFG to their customers. A problem for mini-businesses is the
validity of their financial data and their ability to provide a proper credit analysis.
SME management also needs to be improved at the financial level. It is for this
reason that RLFG has added a consultancy/training department to its basic
guarantee activity.
As in several countries that have transformed their economic systems, the
stability and growth of the society remains conditioned by the solidity and
permanence of the legislative and legal systems. RLFG works with 5 partner
banks that are looking to develop their share of the
Romanian SME credit market. RLFG guarantees a ceiling of 70% of the bank
credits (investment and working capital) in the form of a risk sharing of the final
loss. As there is no state support, nor any counter-guarantee system, the society
has the obligation of balancing its accounts by a prudent selection of risks and by
a premium that covers the risk of default. It amounts on average to 3 to 3.5%
p.a., depending on the category of risk. The 2002 statistics indicate a capital of
€5.2M and an outstanding portfolio of €4.03M. The guarantees granted in 2002
amounted to €2.9M. There is a great deal of room for the development of a valid
institution in Rumania by stronger co-operation between the private and public
sectors.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Mr. Sorin Coclitu, Predient


46 Matasari str Sector 2, Bucharest
Phone: (+ 40-1) 250 3220 Fax: (+ 40-1) 250 3318
E-mail: frgc@arexim.ro

2. Romanian Rural Loan Guarantee Fund


The Rural Guarantee Fund of Rumania was established in 1994 on the initiative
of the Rumanian Government with the support of four commercial banks and the
European PHARE programme. Its fundamental role is to facilitate the transition of
the country’s rural economy by facilitating operations of privatisation and
improving the farms productivity.
There are considerable issues behind these missions, which come in the form of
acquisition of land, purchase of modern equipment and increasing the size of the
exploitations. The future revenue of the farmers is conditioned by their ability to
invest at a time when their situation does not enable them to go to the banks in
order to obtain credit. The Fund therefore has to reverse the economic
mechanism while ensuring its long-term stability and the protection of its
shareholders.
The difficulty of the task takes on a particular aspect in the knowledge that the
National Bank of Rumania does not recognise the value of the guarantee: the
banks cannot invoke the provision of their risk by this external guarantor as a
defence against their legal requirement to make such provision themselves.
There is therefore a form of double cover of the risk, which is not encouraging the
financial world to co-operate with the Rural Fund. It guarantees medium-term
operations for farmers and rural companies, short-term operations for private
farmers, and leasing operations. The guarantee can amount to 70% of the loan
with a maximum of €250,000.
Personal securities from the applicant are required. The average per long-term
operation was €51,000. The Fund has been allotted €12,719,000 of capital and
covers a commitment
portfolio of €9,089,000. The financial reports are showing annual profits.

5, Occidentului Street, District 1, Bucharest


Phone: 0040 21 31 25 3318

3. National Credit Guarantee Fund


The Fund was established by Government Decision in November 2001, as a joint
stock company with a single shareholder – the Romanian State, through the
National Agency for SMEs and Cooperatives. It has the mission to guarantee
SCM loans granted by 12 partner banks. The current equity capital amounts to
about €10 Mio, subscribed by State, with the commitment to increase it up to 3
times more as by 2006. The maximum commitments that the Fund is allowed to
take go up to 3,5 times its capital, with a limit of 5% of its equity per operation.
The guarantee can be attached to long term (75% of the loan and 80% for start-
ups) and short term credits (60% and 70% for start-ups) for the benefit of SME’s
(up to 250 employed staff) in eligible sectors (production, services, tourism and

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transportation). The Fund has a one shot flat fee. Its height is depending of the
credit type (long / short) and of the default payment (higher for a complete
payment of the loss at default; lower for a payment at the end of the court
recovery). No default has occurred at the date of today. The Fund has a seat in
Bucharest and 10 regional branches.

155, Calea Victorei Bld, Tronson 5, 6th Floor, Bucharest Sect


Tel: +4021 310 18 74, +4021 310 18 07 Fax: +4021 310 18 57
E-mail: office@fngcimm.ro Internet: www.fngcimm.ro

4. Banca De Credit Cooperatist S.A (BANKCOOP)


Small and medium-sized private businesses in Romania will have easier access
to credit as a result of a loan agreement between the European Bank for
Reconstruction and Development (EBRD) and Banca De Credit Cooperatist S.A.
(BankCoop) one of the leading private sector banks in Romania. The total
amount of the loan is US$ 20 million (ECU 16 million). With the proceeds of the
loan, the network of BankCoop's branches across the country will offer medium-
term investment credits to small and medium-sized enterprises that can
demonstrate secure sources of foreign exchange revenues. Established in
January 1991 by consumer and credit cooperatives, BankCoop relied initially on
the network of cooperatives to collect deposits and lend to small industries and
commercial outlets. BankCoop has since enlarged its clientele with numerous
private commercial firms and individuals. BankCoop has expanded and
diversified the number and type of shareholders by opening its capital to private
sector investors.

13, Ion Ghica Str Bucharest


Phone: (+ 40-1) 614 3900 or 638 6010 Fax: (+ 40-1) 312 0037 or 312 2219

5. The Bank for Small Industry and Free Enterprise - MINDBANK


The Bank for Small Industry and Free Enterprise was set up in 1990 as a
universal bank. At that time legislation was significantly lacking some of its
fundamental elements. The company law, the banking law and the central bank
law were adopted at a later date. Up to 97.60% of the initial capital of 1.5 billion
ROL was contributed by the Central Union of Handicraft Cooperatives -
UCECOM - and by other cooperatives connected to the structure, the remaining
2.40% being contributions put forth by other physical and legal persons. At 31st
December 2004 the social capital of the bank was 370 billion ROL. The total
number of the shareholders of the bank is 3171, the shareholders representing
60% from the total of the bank’s capital are: National Association of Handicraft
Co-operatives with 24,22%, Mr.A.H. Bahman with 15,41%, MISR Romanian
Bank with 9,02%, Mr.Dan Cojocaru with 7,75% and Mr.Vasile Nitescu with
3,80%. As its name indicates, the Bank for Small Industry and Free Enterprise
assists small and medium sized enterprises and physical persons, retail-banking
being one of the main features of the bank's activities.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Ioan Prundus, chairman


24, Calea Grivitei, District 1, Bucharest
Phone: (+ 40-1) 3030700 or 615 2210 Fax: (+ 40-1) 3030732
Email: IoanPrundus@mindbanksa.ro Internet: www.mindbanksa.ro

6. EXIMBANK
Eximbank is determined to herald its propensity towards customers as economic
companies, SME’s included, which are provided with top quality integrated
financial services. The bank is focused on the Romanian business environment
and the international transactions to be sustained in compliance with financial,
banking and insurance regulations. It has investment credits in order to finance
products intended for SMEs, it provides development-, working capital-, micro-
credits for SMEs.

6, Stavropoleos Str Bucharest


Phone: (+ 40-1) 311 3085 or 210 7948 Fax: (+ 40-1) 312 1350 or 210 5563
Email: office@eximbank.ro Internet: www.eximbank.ro

7. SMEs Credit Line - Revolving Fund


This programme represents a continuation of the Phare Programme RO 9711
(SMEs Pilot Credit Scheme). The loans provided through this Scheme - including
a non-reimbursable grant allocation of 25% of the total EU allocation - are
primarily aimed at allowing SMEs to invest in capital goods. A maximum 20% of
the total investment cost can be allowed for financing working capital related to
the investment project. The initial budget was 8.1 million euros. The budget was
supplemented by 3.29 million euros, due to the tremendous interest in this
Scheme.

Eligibility:
Investment projects which could include:
• construction related to the investment;
• training and technical assistance to implement the project,
• transport of equipment, installation, verification and other works related to
equipment purchase, buildings and rehabilitation of buildings. Each EU
loan has associated a grant component (non-reimbursable) of 25%, aimed
at stimulating the use of advanced technologies by SMEs in their
operations, such as:
• buying industrial manufacturing licenses and/or services licenses
• purchasing software for modernisation of the operations of the SMEs
• improvement of the management processes (e.g. buying advisory services
for cost-cutting in relation to the investment financed by the loan, software
and advisory services for computerisation of the accounting system of the
SMEs etc.)

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• SMEs registered and/or having their headquarters and/or production


facilities/operations in the targetedregions: North - West, North - East,
South - East, South – Muntenia

Financing conditions:
• Budget limits: up to 300,000 Euro/project from the EU funds
• EU + bank contribution = loan: maximum 80% of the project value, of
which:
• EU contribution: maximum 75% of the loan (namely 60% of the project
value, of which 15% is grant and 45% is loan)
• Bank’s contribution: minimum 25% of the loan (namely 20% of the
project value);
• Applicant’s contribution: minimum 20% of the project value (out of
which at least 50% must be in cash)
• Reimbursement period: loans will be repaid in 3 to 6 years, with 1-2
years grace period;

For more information:


Delegation of the European Commission in Romania, Roxana Morea
18, Jules Michelet Street, sector 1, 010463 Bucharest,
tel.: +40-21-203.54.32,
fax: +40-21-230.24.53, 212.88.08,
e-mail: roxana.morea@cec.eu.int

Ministry of European Integration, Gabriel Friptu/Georgiana Pascu


12, Libertå œii street, sector 5, Bucharest,
tel.: +40-21-311.41.83,
e-mail: Georgiana.Pascu@dr.mie.ro , Internet: www.mie.ro

BCR, Headquarters, Bucharest, Ramona Ivan/Cristina Maria Marin


tel.: +40-21-310.27.85, 312.61.85/int. 4970-4,
fax: +40-21-313.12.46,
e-mail: cristinamaria.marin@bcr.ro Internet: www.bcr.ro

Contact points for sales, export-import, cooperation and joint-ventures

1. Chamber of Commerce and Industry


22, Blvd. Nicolae Balcescu, Bucharest
Phone: (+ 40-1) 615 4703 or 615 4704 Fax: (+ 40-1) 312 3830 or 312 2091
Internet: www.ccir.ro

Brussels office:
51 Rue D’Arlon, 1040 Bruxelles

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Tel:+32 (0) 2230 2395 Fax: +32 (0) 2230 2396


E-mail: ccir.bruxelles@skynet.be

2. Balkan Accession Fund


The Balkan Accession Fund is a private equity fund managed by a team with
unequaled experience in the region. It is designed specifically to take advantage
of investment opportunities related to the scheduled 2007 European Union
accession of Romania and Bulgaria.
The run up to that event creates opportunities for institutional and high net worth
individual investors seeking diversified private equity positions. The Fund brings
a team of highly qualified managers and researchers together to oversee a
limited number of carefully selected investments.
The Fund will focus its attention initially on Romania and Bulgaria. Both nations
have achieved substantial GDP growth in recent years and both are making
substantial progress in aligning their legal systems with those in the EU. The
Romanian stock market performance over the past two years has been
exceptional, foreign direct investment doubled last year, the currencies of both
nations have strengthened against both the Euro and the US dollar, and all
indications are that this trend will continue. The Fund may also extend its
investment scope to Croatia or another of the former Yugoslav republics if
investment opportunities warrant.

3 Aviatorilor Street, Sector 1 011853, Bucharest


Tel: +40 (21) 222-8501 Fax: +40 (21) 222-8503 f
Email: horia.manda@bafund.net , roxana.vitan@bafund.net ,
neculai.sandu@bafund.net Internet: http://www.bafund.net/

3. Balkan Centre for Cooperation Among SMEs


Permanent Secretary
Ms. Mihaela-Carmen Ifrim, Head of the Permanent Secretary
Ministerului Str., 2-4 Bucharest
Phone: (+ 40-1) 312 5538 Fax: (+ 40-1) 311 1635

4. State Ownership Fund


21, C.A. Rosetti Str. Bucharest
Phone: (+ 40-1) 211 4814 or 211 4943 Fax: (+ 40-1) 211 9287

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Slovakia

1. Entrepreneur Association of Slovakia (EAS)


EAS is striving to improve the position of private entrepreneurs in the legislature
and create an environment in which they can have more influence on the making
of the economic policy. By accomplishing this EAS hopes to significantly
influence the creation of legislative norms supporting private business. EAS
analyzes laws and proposes modifications or amendments to the Slovak
government. As a direct result of EAS advocacy efforts thus far, the Slovak
government has now agreed not to impose price regulation. It has also agreed to
a gradual lowering of the tax and fee burden of entrepreneurs.

Cukrova 14, Bratislava, Slovakia 813 39


Tel: (427) 368-872 Fax: (427) 368-872

2. Slovak Venture Capital Association (SLOVCA)


In 1995 several financial institutions operating in Slovakia decided to form the
Slovak Venture Capital Association (SLOVCA). Its primary purpose was
increasing awareness of the public to the availability of venture capital to
entrepreneurs, as well as to other investment and banking institutions, and
economic, political and regulatory bodies in Slovakia. The key objectives are:
• To provide information to those seeking capital for new and existing
enterprises
• To represent the interests of members before the government and other
related institutions/agencies
• To provide a forum for networking for members to exchange views and
practices
• To provide education and training for members of SLOVCA and others
• To encourage the highest standards of business practices

SLOVCA - Slovak Venture Capital and Private Equity Association


c/o SEED CAPITAL Company, s.r.o.
Nevädzova 5, 821 01 Bratislava, SLOVAKIA
Tel: (421) 905 640 181 / (421-2) 4333 1873 Fax: (421-2) 4828 7645

3. National Agency for Development of Small and Medium Sized


Enterprises (NADSME)
NADSME also runs a programme for SMEs to provide support for the
implementation of quality management systems, called Kvalita (quality) which is
financed under Slovakia’s State Budget. The objective of the programme is to
strengthen the competitiveness of the SME sector through improving the quality
of products and services, and growth in the numbers of SMEs certified according
to ISO 9000 standards. NADSME also provides professional and technical
support to SME interest groups and professional organisations. This help is

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targeted in particular at providing help with drawing up strategies for the


organisations, providing training and equipment for the organisation and training
for its members, support for the promotion of the organisation’s activities and
fostering contacts with international and foreign counterpart organisations.
Professional and technical support has been provided for example to the Slovak
Association of Entrepreneurs, the Slovak Craft Chamber, Slovak Association of
Building Entrepreneurs, the Slovak Country Tourism and Agrotourism Union, the
Guild of Ceramic-Makers etc.

Miletičova 23, 821 09 Bratislava 2, Slovenská republika


Tel.: +421 2 502 44 500 Fax: +421 2 502 44 501
Email: agency@nadsme.sk Internet: www.nadsme.sk

4. Premier Consulting
Premier Consulting has been set up in 2003, started as EU projects developing
company and soon gained leading position in the relevant market (Premier
Consulting cooperated on more than 230 EU projects 2,2 billion SKK in total
value). Being succesfull on the market it expanded its activities into
complementary services: real estate, business opportunities and public
procurement.
Today Premier Consulting is a full service investment company offering its
services not only to Slovak companies and investors but also in the "old" and
"new" EU member countries. Its competitive advantage is based on deep local
knowledge, experience and professional management and team members. If you
are looking for quality business opportunities or real estate consulting in
Slovakia, Premier Consulting is the right choice for you.

Hadovská cesta 870


945 01 Komárno, Slovak Republic
Tel. +421 35 771 35 85 Fax. +421 35 771 42 50
Internet: www.premier-consulting.sk

5. Slovak Chamber of Commerce (SCCI)


SCCI is a public legal institution. Membership is voluntary. Among current
members are natural and legal persons performing business activities in various
fields of economy, with exception of agriculture and food industries.
Presently, the chamber consists of 9 regional chambers and 6 offices in
important Slovak business capitals. SCCI bodies (Assembly of the Delegates,
Board of Directors, Supervisory Board, President and Secretary General) are
subject to internal ellections. This aids appropriate presentation and promotion of
enterpreneurial sector interests.

Gorkého 9, 816 03 Bratislava


President: Doc. Ing. Peter Mihók, CSc.
Tel.: +42125413 12 28
Email: kratochvilova@scci.sk Internet: www.test.sopk.sk

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Slovenia

SME Advisory Services and Business Information Centres

1. Small Business Development Centre


Public Agency for Entrepreneurship and Foreign Investment in Slovenia
Public Agency for Entrepreneurship and Foreign Investment in Slovenia (PAEFI)
was established by the Government of the Republic of Slovenia in 1992 with an
aim to co-ordinate the Small Business Support Network and entrepreneurship
promotion programmes. The mission of PAEFI is to enhance the establishment
of entrepreneurship development supporting environment in Slovenia and to
accelerate the development of entrepreneurial culture. PAEFI is a coordinator of
the Small Business Support Network and other SME supporting institutions on
national, regional and local level. PAEFI co-ordinates their entrepreneurial
initiatives and communicates them further, via Small Business Support Network
and the Network of Local Business Centres of Slovenia (LBC), to the users –
target groups: micro, small and medium-sized enterprises.

WTC, Dunajska 156, Ljubljana


Phone: +386 3 42 53 150 Fax: +386 3 42 53 180
E-mail: zare.tomsic@japti.si Internet: www.pcmg.si

2. Small Business Support Network


The aim of the Small Business Support Network is to develop and implement the
support services for development of SMEs on the local level by:
• collecting, analysing information, research and situation monitoring in the
field of SME development,
• development and operation of documentation centre for the field of Small
and Medium Enterprises (SME),
• forming specialised information packages for individual target group of
users - SMEs,
• development of information data basis to support research activities for
the field of SME development,
• development of information and professional devices and tools for
entrepreneurship development,
• development and implementation of interactive information dissemination
tools.
To upgrade and coordinate the Small Business Support Network of Slovenia that
implements and provides business support services to the SMEs on the local
level. Small Business Support Network of Slovenia consist of 37 Small Business
Centres and 116 business consultants. It is a partnership of national, regional
and local institutions offering quality and holistic advisory business services as
well as other support services to entrepreneurs. The key tasks of the Small
Business Support Network are:

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• activate local entrepreneurship potentials,


• to programme and implement key entrepreneurship and other
development projects on the local level,
• to provide general and specialised consulting services to SME,
• to coordinate and develop local public - private development partnerships,
• to promote entrepreneurship culture on the local level.

Contact person: Alenka Hren, Head of the Field


E-mail: Alenka.Hren@irrc.japti.si Phone: + 386 3 425 31 50

3. Styrian technology Park


The Styrian technology Park is the Gate to Technology & Innovation (GTI)
presents up-to-date contents about transfer of knowledge / technology and
important creators of a stimulating environment for execution of transfer
activities. GTI also presents training and promotion events for a target group of
entrepreneurs and institutions with a goal of stimulating their mutual
collaboration, transfer of experience, knowledge and technologies which leads to
synergy effects, more efficient execution of individual activities and development
of all involved parties.

Mr. Valentin Kropivsek, Director


SI-2211 Pesnica pri Mariboru, Pesnica 20a
Phone: (+ 386-62) 65 40 229 Fax: (+ 386-62) 65 40 202
E-mail: info@stp.si Internet: www.stp.uni-mb.si/index.php?lang=en / www.stp.si

Financial institutions and intermediaries for SME support

1. KD Group
KD Group is an international business group, headquartered in Ljubljana,
Slovenia. The Group’s core activity is asset management in the fields of financial
services and financial investments. We have been active in the Central and the
South Eastern Europe for over 12 years and are dedicated to expanding our
franchise in the region. The Group's core activity is asset management in the
fields of financial services and financial investments

KD Group,Financial Company, PLC


Celovška 206, 1000 Ljubljana, Slovenia
Tel: +386 1 582 67 00 Fax: +386 1 519 28 47
E-mail: info@kd-group.si

2. Horizonte
Horizonte is a risk capital fund intended for investments in the form of stakes in
Slovenian companies. Horizonte offers ownership interest to successful
companies in a period of transition or a phase of expansion. The fund has
specialised in investing in environmentally friendly companies. Its major
investments have been in companies involved in information management,
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medicine and telecommunications. The fund has hitherto selected 11 projects, in


which it has invested 75% of the available funding, amounting to about € 5.77
million. The fund’s target is to ensure a minimum 35% stake in a company.

Dr. Matej Penca Managing Partner penca@horizonte.si


Tina Gracer Investment Analyst gracer@horizonte.si
Teslova 30, SLO-1000 Ljubljana
Tel: +386.1.241 4780 Fax: 386.1.241 4788
e-mail: horizonte@horizonte.si Web: www.horizonte.at/offices/offices.htm

3. SFM Group International


This is a Luxembourg-based company. SFM Group was first established in 1997
in the Czech Republic and now operates in a further eight countries throughout
the region: Slovakia, Slovenia, Croatia, Hungary, Cyprus, Lithuania, Latvia and
Poland. SFM brings close partnerships with Brandes Investment Partners,
Unigestion, Julius Baer, Vontobel and other internationally renowned asset
managers to offer investors unique access to some of the leading investment
professionals in the world. Locally, SFM works with established and prominent
partners to help bring financial advisors and investors a full range of products,
structured in the right way and delivered at the right time to meet the
expectations of the market.

Mr. Marijan Groff, SFM, Ljubljana,


tel: +386.1.4323.044/4324.038 fax: +386.1.4323.044,
E-mail: sfm@net.zaslon.si Internet: www.sfmgroup.com

4. Aktiva Group
The Aktiva Group was founded in 2000. The major investors in Aktiva ventures
are companies, with the participation of other Slovenian and foreign investors.
The Aktiva Group is mainly focused on high-tech and new companies, though
this is not a rule. It focuses its investments primarily on telecommunications, the
Internet, software and biotechnology. The Aktiva Group places special emphasis
on start-up financing and on financing of the first stage of development.

Mr. Aleš Musar, Aktiva-Group


tel: +386.1.5688.022, fax: +386.1.5688.246,
E-mail: ales.musar@aktiva-group.si, Internet: www.aktiva-group.si

5. Prophetes Inc.
Company PROPHETES, Partnerised Company for Financing and Development
Inc., was founded in 1999. It is a start-up partnership company that provides and
invests venture capital in innovative companies and projects. It also provides
support to investors who invest capital in the countries of South-East Europe by
forming a network of subsidiaries in the region and providing complete capital
consulting services. It offers complex professional advisory support and
marketing for innovative companies in which venture capital is invested.

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1000 Ljubljana, Koprska uljca 108 A, Slovenia


Tel: +386 1 244 3870, +386 1 244 3873 Fax: + 386 1 244 3871
E-mail: info@prophetes.com, Internet: www.prophetes.com

6. The Small Businesses Development Fund


It was established by the State for the purpose of promoting and developing
small business units. It allocates specific forms of assistance and support
including loans, co-investment, investment in and financing of the construction of
promotion centres, and free entrepreneurial and trade zones. It gives guarantees
for investment loans by banks and other financial organisations, subsidies of real
interest rates for investment credits, and premiums for the founding and
development of small businesses.

Mr. Boštjan Vidovič, Director, Maribor,


Tel: +386.2.2341.264 Fax. + 386.2.2341.282,
E-mail: bostjan.vidovic@jsmg-sklad.si, Internet: www.jsmg-sklad.si

7. Slovene Export Corporation


It is an export credit agency (ECA) that offers their customers for their operation
on foreign and domestic markets a wide and complete range of various financial
services and products of: insurance, export financing, issuing of guarantees,
credit rating, risk rating and other information, legal and business advice,
assistance with collection of debt, factoring.

Ulica Josipine Turnograjske 6, 1000 Ljubljana


Telefon: + 386 1 200 75 00 Fax: + 386 1 200 75 75
Email: info@sid.si Internet: www.sid.si

8. NLB Skladi - Slovenian equity fund


Mutual fund NLB Skladi - Slovenian equity fund is intended mainly for investors -
natural persons whose financial situation is favourable and who have at least
basic savings in low-risk investments, such as bank deposits or high-rated
bonds. As an independent investment the mutual fund is suitable mostly for
investors who are willingto accept above average, but exceptionally high risk to
achieve above average returns. Those investors who are not willing or capable of
accepting above-average risk should combine the mutual fund investment with
investments in mutual funds which invest assets mainly in bonds.
The mutual fund is intended mostly for investors who plan to save for at least five
years. It is especially suitable for additional pension savings, long-term savings
for children, long-term purchases of more valuable material goods, long-term
growth in earned savings and attainment of other long-term financial goals.

Nova Ljubljanska banka d.d. Trg republike 2, 1520 Ljubljana, Slovenia


Telephone:+386 1 425 01 55 Fax:+386 1 425 03 31
E-mail: info@nlb.si Internet: www.nlb.si

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Spain
Governmental organisations and chambers

1. General Directorate for SME Policy (DGPYME)


The General Directorate for SME Policy (DGPYME), assigned to the Spanish
Ministry of Economy, is the main public body involved in the promotion and
encouragement of the Spanish SMEs. For this purpose, the DGPYME develops
both horizontal policies that establish a global framework for the Spanish SMEs,
as well as support policies specifically intended to solve concrete problems in
concrete fields (innovation, finance, etc).

María de Molina, 50 Planta 2ª, 28006 – Madrid, España


Phone: 91 545 08 20 - 91 545 08 02 Fax: +34 91 545 08 90
E-mail: infopyme@ipyme.org Website: www.ipyme.org

2. Higher Council of the Spanish Chambers of Commerce)


The Higher Council of the Spanish Chambers of Commerce represents the 85
Spanish Chambers of Commerce at national and international level. Amongst the
main roles of these Chambers of Commerce, there are two that are particularly
relevant: on the one hand, the diffusion of relevant information for Spanish SMEs
and, on the other hand, the development of advising and training services,
especially in the internationalisation context.

Calle Velázquez, 157, 1º, 28002 Madrid, España


Phone: +34 91 590 69 00 Fax: +34 91 590 69 08
Email: csc@cscamaras.es Website: www.cscamaras.es

SME Advisory Services and Business Information Centres

1. Spanish Confederation of the Small and Medium Enterprise


CEPYME is the main Spanish SME employers’ Association. In this sense,
CEPYME is engaged in several activities, such as the defence, representation
and support of the SME employers’ interests. CEPYME is recognised as the
most representative SME employers’ organisation in Spain.

Diego de León, 50, 28006 Madrid, España


Phone: +34 91 561 92 90 Fax: +34 91 561 94 52
Email: cepyme@cepyme.es Website: www.cepyme.es

2. The Centre for the Industrial Technological Development (CDTI)


It is a public body assigned to the Ministry of Industry and Energy. CDTI
promotes the innovation and the technological development within the Spanish

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enterprises in general and the SMEs in particular. Some of the main activities of
CDTI include the financing of R&D projects developed by the Spanish
enterprises, the promotion of international technology transfer activities and,
finally, the support to the Spanish participation in international R&D programmes.

Cid 4, 28001 Madrid, España


Phone: +34 91 581 55 00 Fax: +34 91 581 55 94
Email: info@cdti.es Website: www.cdti.es

3. National Enterprise for Innovation


ENISA is a public collaborating body of the General Directorate for SME Policy
(DGPYME). ENISA’s key objective is the development of new financial products
intended to facilitate the SMEs’ access to long term resources. Specifically,
ENISA supports the financing of Spanish SMES by three different tools, this is,
loans for financial restructuring, guaranteed loans for investment and, finally,
participatory loans.
Paseo de la Castellana, 141 1ºC, 28046 Madrid, España
Phone: +34 91 570 82 00 Fax: +34 91 570 41 99
Email: enisa@enisa.es Website: www.enisa.es

Financial Institutions and Intermediaries for SME support

1. La Caixa
The European Investment Bank is providing EUR 200 million to La Caixa for
lending dedicated to SMEs throughout Spain. The support will go to SMEs
investing to increase their own productivity, including investment in RDI as
foreseen by the EU Lisbon Strategy to foster a knowledge-based competitive
European economy, as well as in promoting rational use and diversification of
energy, in protecting the natural and urban environment and, finally, in education
and health sector schemes developed by private initiative. The EIB resources will
allow La Caixa to offer SMEs longer-term loans at advantageous financial
conditions, particularly lower interest rates than would otherwise be offered.
La Caixa is the largest savings bank in Spain and its third largest banking group.
It has a rich network of more than 5000 experienced offices established to serve
a very broad client based, notably the SME players.
In the 20 years since Spain joined the EU more than EUR 8 billion have been
global loans provided by the EIB to support SMEs. Global loans totaling some
EUR 16 billion have allowed underpinning more than 40 000 investment projects
of SMEs, local governments, other public sector entities, as well as private
companies working under concession.
The EIB Group is steadily orienting its SMEs financial support towards
investment advancing science and technology-based innovation to create new
products and processes, to improve the EU’s energy security and management
and to protect the natural resources and environment.

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With the establishment of the European Investment Fund office in Madrid, the
EIB Group will follow closely the evolution of demand from SMEs for more
flexible risk-based financial instruments such as risk capital and guarantees.

Internet: www.lacaixa.es

2. Institute of Official Credit


It is a State-owned corporate entity attached to the Ministry of Economy and
Finance through the Secretariat of State for the Economy. It has the status of the
State's Financial Agency of Spain.
ICO's financing activity seeks to boost sectors such as the film industry and
transport and encourage technological innovation and renewable energy projects
while helping Spanish enterprises set up abroad.
The Institute also plays a part in economic policy projects and helps to alleviate
critical situations and natural disasters. At the same time, it provides backing for
exports and, through the Microcredit Facility, grants loans to people who do not
have access to normal financing channels.The general aim is to enhance
economic growth while achieving greater social and territorial cohesion.
ICO provides medium and long term financing for the productive investments
carried out by the Spanish enterprises in general and SMEs in particular (the so-
called SME Line).

Paseo del Prado, 4, 28014-Madrid, España


Phone: +34 91 592 16 00 Fax: +34 91 592 17 00
Email: ico@ico.es Website: www.ico.es

3. Spanish Association of Risk Capital Entities (ASCRI)


The main goal of the organisation is the development of risk capital in Spain. For
this purpose, ASCRI carries out several functions linked to the representation,
administration and defence of the professional interests of its members.
Additionally, ASCRI promotes the creation of risk capital entities whose main
objective is the direct financing of Spanish SMEs’ innovative projects.

Príncipe de Vergara, 55 4ºD, 28006 Madrid, España


Phone: +34 91 411 96 17 Fax: +34 91 562 65 71
Email: ascri@mad.servicom.es Website: www.ascri.org

4. The Spanish Company for the Financing of the Development (COFIDES)


This company has mixed capital -public and private- whose fundamental goal is
to offer financial support to Spanish enterprises’ investment projects in less
developed countries. In this sense, COFIDES supports all the possible phases of
the investment projects.

Calle Príncipe de Vergara, 132 Planta 12, 28002 Madrid, España


Phone: +34 91 562 60 08 Fax: +34 91 561 00 15
Email: cofides@cofides.es Website: www.cofides.es

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Contact points for sales, export-import, cooperation and joint-


ventures

1. The Spanish Institute of Foreign Trade (ICEX)


ICEX is a public body with own legal status. ICEX’s main role is the support and
encouragement of the Spanish exports. For this purpose, ICEX designs and
carries out several promotion and investment programmes. Additionally, ICEX
gathers and diffuses information on the Spanish offer and on foreign markets.
For the development of these activities, ICEX has a network of offices both
abroad and within the Spanish territory.

Paseo de la Castellana 14-16 28046 Madrid, España


Phone: +34 91 349 61 00 Fax: +34 91 431 61 28
Email: icex@icex.es Website: www.icex.es

2. Spanish Insurance Company for Exporting (CESCE)


The organisation has as main goal the support to those risks derived of the
Spanish enterprises’ activities abroad (foreign trade, investments abroad, etc).
The Spanish State has most part of CESCE’s capital (50.25% of the total),
whereas several Spanish banks and general insurance companies also
participate in CESCE on a minority basis.

Velazquez, 74, 28001 Madrid, España


Phone: +34 91 423 48 00 Fax: +34 91 576 51 40
Email: cesce@cesce.es Website: www.cesce.es

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Sweden

Governmental organisations and chambers

1. Swedish Business Development Agency


NUTEK is the central public authority for enterprise development and regional
development. Since January 2001, NUTEK together with ALMI Företagspartner
(see below) forms a national competence centre for enterprise development and
fostering of entrepreneurship. Nutek strengthens trade and industry throughout
Sweden by contributing to the creation of new enterprises, helping existing
enterprises to grow and by strengthening regional growth. Nutek is the Swedish
Agency for Economic and Regional Growth.

Liljeholmsvägen 32, SE-117 86 Stockholm, Sweden


Phone: +46 8 681 91 00 Fax: +46 8 19 68 26
Website: http://www.nutek.se

2. The Chambers of Commers


The Chambers of Commerce are private business organisations open for to all
enterprises. They provide contacts and access to networks both on a regional,
national and international levels to for their members as well as for interested
companies abroad.

Box 160 50, SE-103 21 Stockholm, Sweden


Phone: +46 8 555 100 00 Fax: +46 8 566 316 35
Website: http://www.cci.se

SME Advisory Services and Business Information Centres

1. Federation of Private Enterprises


The Federation of Private Enterprises is a non-governmental organisation. It
creates better conditions for starting, running, developing, and owning a business
in Sweden. The mission is to promote entrepreneurship, safeguard the rights of
business owners, and contribute to a climate in which running a business is easy
and appealing. With the overall aim of FR is to improve improving the business
climate for entrepreneurs. Its two main tasks of the organisation are to give
advice and service to members and to perform lobbying. Approximately 60 000
owners of small and medium sized enterprises are members of Frthe
organisation.

Företagarnas Riksorganisation, FR, SE-106 67 Stockholm, Sweden


Phone: +46 8 406 17 00 Fax: +46 8 24 55 26
Website: http://www.fr.se

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2. The Confederation of Swedish Enterprise


Confederation of Swedish Enterprise is a pro-business interest organization
representing close to 54,200 Swedish companies. It consists of 50 trade and
employer association members, with a 1.6 million labor force covering 70% of the
Swedish private sector.

Storgatan 19, SE-114 82 Stockholm, Sweden


Phone: +46 8 553 430 00 Fax: +46 8 553 430 99
Website: http://www.svensktnaringsliv.se

3. The Swedish Association of Ethnic Entrepreneurs (IFS)


IFS started in 1996 and is an independent not-for-profit association working with
and for ethnic minority businesses in Sweden. One of the most important goals
for IFS is to encourage entrepreneurship among ethnic minorities and represents
its member companies in dealing with public authorities, organisations, banks,
customers and the media. They help in the minority’s own language:
• to discuss and analyse your business idea
• to write a business plan
• to do the financial calculations
• to seek financing (loans) in banks, credit institutes (ALMI etc).
• in dealings with the public authorities, and in the administrative work
(registration, permits…)
IFS arranges furthermore information meetings and courses for instance in
bookkeeping, marketing, business law, computer knowledge & internet and
initiates networks between its member companies.

Crafoords väg 19, SE-113 24 Stockholm, Sweden


Phone: +46 8 690 56 79 Fax: +46 8 690 56 74
Website: http://www.ifs.a.se

4. Industrial Development Centres


The constant presence of the IDC:s among the regional enterprises, together
with the core competence of identifying, initiating and carrying out development
processes with industrial growth in focus, combined with co-operation in a
national network gives us good conditions for co-operating where others have
had problems or have failed. The IDC network can be the "missing link" which
will enable co-operation between enterprises and other important actors. Thus,
the IDC network would like to cooperate with public authorities and departments
whose purpose it is to facilitate the development of a globally competitive
Swedish industry.They support innovation-based enterprises. The Swedish
Government provides most of the financing, but only for activities that focus on
the SME sector. The purpose of the support is to stimulate development and to
create new job opportunities in small and medium-sized enterprises through skills
development, technical training and business development. There are eleven

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IUC offices across Sweden. Follow Use the link below for contact information.
Website: http://www.iuc.se

5. Swedish Foundation for Small Business Research (FSF)


The Swedish Foundation for Small Business Research (FSF) started operations
in 1994. The objective is to serve as a bridge between Swedish small business
research community and all parties active in development of new and small
enterprises. They help
• to initiate and disseminate research relevant to policy in the fields of
entrepreneurship and small enterprise
• to offer small business researchers a forum for idea sharing, to build
national and international networks in the field and to bridge the gap
between research and practical application in the small business sector.
Research is conducted in program form, either within our own organization
and/or in association with various universities and colleges throughout Sweden.

SE-701 82 Örebro, Sweden


Phone: +46 19 33 37 00 Fax: +46 19 33 37 01
Website: http://www.fsf.se

6. Scandinavian Institute for Research in Entrepreneurship, SIRE)


SIRE is a network consisting of Halmstad University, Lund University and Växjö
University. We conduct research in the areas of entrepreneurship, innovation,
creativity, change processes, small business, regional development and family
business. Read more about our activities by using the menu at the left.

Universitetsplatsen 1, Växjö Universitet, SE-351 95 Växjö


Phone: +46 470 70 80 00 Fax: +46 470 824 78
Website: http://www.ehv.vxu.se/org/personal/sire

7. Entrepreneurship and Small Business Research Institute (ESBRI)


ESBRI is an independent research institute conducting research on
entrepreneurship and SMEs. The institute co-operates with the School of
Business at Stockholm University, where a professorship in entrepreneurship
and small business has been established. ESBRI’s objectives are:
• conduct research on entrepreneurship and small and medium sized
enterprises
• initiate and develop undergraduate and graduate education/training
actively participate in the public debate and
• the dissemination of research results to both the research community and
to the public

Frescati Hagväg 16B, SE-104 05 Stockholm, Sweden


Phone: +46 8 458 78 00 Fax: +46 8 15 28 10
Website: http://www.esbri.se

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Financial Institutions and Intermediaries for SME support

1. Swedish Industrial Development Fund


The Fund was Government established by the Swedish Industrial
FundGovernment in 1979. Their and aims m is to stimulate growth and
innovation in the SME sector. This is accomplished by providing contributing in
the form of security or loans to the finance foring of companies and of
development and marketing projects in the form of equity or loans. Industrifonden
promotes innovative Swedish companies by investing equity capital or granting
loans. Industrifonden has an equity of about SEK 3.2 billion . Invested capital
amounts to SEK 1.6 billion. It invests in cutting-edge, product-oriented
companies with export potential. Companies must have strong management,
sound business concepts and the potential to earn healthy return.

Vasagatan 11, Box 1163, SE-111 91 Stockholm, Sweden


Phone: +46 8 587 919 00 Fax: +46 8 587 919 50
Website: http://www.industrifonden.se

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United Kingdom

1. Deprartment of Trade and Industry


The Department of Trade and Industry is the UK Government department with
the overall aim "To increase competitiveness and scientific excellence in order to
generate higher levels of sustainable growth and productivity in a modern
economy".

1, Victoria Street, London SW1H 0ET, UK


Phone: + 44 20- 7251- 5000 Fax: +44 20- 7222- 0612
Website: http://www.dti.gov.uk

2. Export Credits Guarantee Department (ECGD)


ECGD is a separate UK Government Department, responsible to the Secretary of
State for Trade and Industry. Our main function is to provide financial and
insurance assistance to exporters of UK capital goods and services.

2, Exchange Tower, Harbour Exchange Square, London, E14 9GS, UK


Phone: + 44 20- 7512- 7000 Fax: + 44 20- 7512- 7649
E-mail: help@ecgd.gov.uk Website: http://www.ecgd.gov.uk

3. Innovate Now
It is a department within the DTI responsible for the promotion of Innovation in
UK. Their task is to help business understand innovation, why it is important and
how to organise itself to manage it successfully.

Future & Innovation Unit, Department of Trade and Industry


1, Victoria Street, London SW1H 0ET, UK
Phone: + 44 20- 7251- 5000 Fax: + 44 20- 7222- 0612
Website: http://www.dti.gov.uk/inow or http://www.innovation.gov.uk

4. Small Business Service


Small Business Service is an agency within the United Kingdom Government that
champions the interests of small business.

Small Business Service


1, Victoria Street, London SW1H 0ET, UK
Phone: +44 114 259 77 88 Fax: +44 114 259 73 30
E-mail: gatewayenquiries@sbs.gsi.gov.uk Website: http://www.sbs.gov.uk

5. National Business Angels Network


To connect business angels with companies seeking equity capital the
government launched the National Business Angels Network (NBAN) in February
1999. This new network is meant to operate as a kind of catalyst and clearing
house, offering an introductory service which includes an interactive website.

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National Business Angels Network


3rd Floor, 40-42 Cannon Street, London EC4N 6JJ, UK
Phone: +44 20 7329 29 29 Fax: +44 20 7329 26 26
E-mail: info@bestmatch.co.uk Website: http://www.nationalbusangels.co.uk

6. Small Firms Loan Guarantee Scheme


The aim of the Scheme is to improve access to debt finance for viable
businesses, which are unable to gain conventional finance because of a lack of
collateral or trading record, or a combination of both.

Loan Guarantee Unit, St Mary's House, c/o Moorfoot, Sheffield S1 4PQ, UK


Phone: + 44 114 259 7308/9 Fax: + 44 114 259 7316
E-mail: sflgs@sbs.gsi.gov.uk Website: http://www.dti.gov.uk/support/sflgs.htm

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EBRD
Small and medium-sized loan financing is available from the banks listed
in the next pages with which the EBRD has signed a loan or standby facility or in
which the EBRD has made an equity participation.

More information about Albania, Armenia, Azerbaijan, Belarus, Bosnia and


Herzegovina, Croatia, Georgia, Kazakhstan, Kirgizstan, Kosovo, FYR
Macedonia, Moldova, Russia, Serbia Montenegro, Tajikistan, Turkmenistan,
Ukraine, Uzbekistan for small and medium-sized loan look at
http://www.ebrd.com/apply/small/loan/medium.pdf
for micro and small business loan programme:
http://www.ebrd.com/apply/small/loan/micro.pdf

Micro and small business loan programme


MSE projects at the EBRD (as at end Dec 2004) The EBRD’s Micro and
Small Enterprise (MSE) lending programmes are designed to provide individual
entrepreneurs and micro and small firms with access to finance that has
traditionally not been made available to them. In pursuing this goal, EBRD’s MSE
projects have a strong regional focus, supporting economic development and
social stability in the Bank’s countries of operation.
The EBRD co-operates with existing commercial banks to build capacity for
MSE lending operations and also sets up “greenfield” specialised microfinance
banks. If there is a sufficiently stable banking sector, truly committed to pursuing
the micro and small market, EBRD works with existing banks to develop staff and
implement lending procedures tailored to the needs and possibilities of micro and
small enterprises. If there is an insufficient number of suitable partner banks,
EBRD, together with partner institutions, establishes a new microfinance
institution. This strategy quickly delivers financing to MSEs, while also providing
an example to the banking sector of best practice in MSE lending.
Micro and Small lending programmes are now operational in Albania,
Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia,
Georgia, Kazakhstan, Kosovo, Kyrgyz Republic, Macedonia, Moldova, Mongolia,
Romania, Russia, Serbia & Montenegro, Tajikistan, Ukraine and Uzbekistan.
With respect to financing that has been made available by all Micro and Small
lending programmes, 785,855 loans have been disbursed for a total of almost
USD 5.1 billion, with over 330,000 loans disbursed in 2004 alone.

Applying for a Loan


Micro and small loan financing is provided through branches of EBRD partner
banks and/or specialized microfinance institutions located throughout the EBRD’s
region of operations and Mongolia. Loans are provided on a purely commercial
basis. To be considered for financing, businesses must have adequate cash-
flow, market demand for their products, and sound management. No loan is too

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small and collateral is a secondary consideration after the business has been
analysed.
Micro credits, of US$ 50 to US$ 10,000, are generally available for a maturity
of up to 12 months initially. As companies build up a credit record, they become
eligible for larger loans with longer tenors for a variety of purposes (trade,
services and investment). The firm’s debt capacity is analysed before loans are
extended. Individual entrepreneurs and firms may apply for micro credits.
Small loans are usually available in amounts of up to US$ 200,000 (higher in
exceptional cases), with maturities of up to three years or exceptionally up to five
years. These loans, which may be for working capital and/or fixed assets, are
provided to companies involved in trade, production or service industries.
Potential borrowers must have sufficient cash-flow from the project to repay the
loan and exhibit good management skills and business planning.

Requirements:
The EBRD’s financial intermediaries consider sound and sensible projects that
support private sector development. Each bank or programme has its own
requirements and investment limits. For detailed financing information, contact
the intermediary directly.

SME requirements for obtaining loans through local banks


• Sound business plans for establishing or expanding a company’s
business.
• Solid management with a proven track record.
• Products that are competitive in the marketplace.
• Information on owners/partners.
• Financial history.
• Security in the form of pledges, mortgages, etc.
• Funds provided must be used in strict accordance with the aims stated in
the original business plan.
• In line with the EBRD’s mandate, banks ensure that all proposals pay due
regard to environmental issues.
• Funding cannot be provided to majority state-owned companies or for
government-guaranteed projects.
• In addition, equity contributions, either in existing or new business, of
around 35% are often required.

Municipality requirements for obtaining loans through local banks


Funding for infrastructure projects is available to small and medium-sized
municipalities and their utility companies in the EU Accession countries.

Requirements:
• Population served by the municipality of under 100,000 people. For
Bulgaria and Romania, under 150,000 people.
• Able to repay the loan through the municipality's cash flow and to meet
specified financial ratios in loan agreements.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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• Competent financial management and budgetary control procedures.


• Willing to apply EBRD procurement and environmental requirements.
• Willing to provide visibility for the EU's contribution.
• Commitment to publicise any EU technical cooperation support received
through events or press release

Financial and operating leases for small businesses are available from EBRD
supported leasing facilities. They cover a range of goods such as commercial
vehicles, equipment and machinery. Contact local leasing companies to access
finance and to check specific requirements.

Equity finance is available from EBRD-supported private equity funds, donor-


supported equity funds and directly from the EBRD. Equity funds support all
kinds of investments including business start-ups, expansion and acquisitions.
Some funds specialize in financing companies in need of restructuring, in
distressed situations or mezzanine capital for a later stage. Fund investments
generally have a higher prospective return and require longer-term risk capital
than standard EBRD projects.

Investment criteria are consistent with EBRD policy, but investment decisions are
made by fund managers.

EBRD supported equity funds


Contact fund managers to access finance, to check specific fund requirements
and investment limits.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Bulgaria

1. Allianz Bulgaria
The EBRD has provided Allianz Bulgaria in September 2006 with a credit line for
on-lending to SMEs as part of the EU/EBRD SME Finance Facility. EU-funded
technical co-operation funds will help introduce effficient SME lending activities at
the bank.

CB Allianz Bulgaria AD
Blvd. Kn. Maria Luisa 79., 1202 Sofia, Bulgaria
http://www.bank.allianz.bg

Contact:
Mr. Georgi Momtchilov, Executive Director, Member of the Management Board
Tel: +359 2 921 54 04 Fax: +359 2 980 5200
Email: g.momtchilov@bank.allianz.bg

2. Bulgarian American Credit Bank (BACB)


The EBRD has provided BACB with a credit line for on-lending to SMEs as part
of the EU/EBRD SME Finance Facility. BACB also benefits from EU-funded
technical co-operation funds to further develop its SME lending activities.

Bulgarian American Credit Bank (BACB)


16 Krakra Street 1504 Sofia, Bulgaria
http://www.bacb.bg

Contact:
Mr. Vladimir Gyulev, Manager Mortgage Lending
Tel: +359 2 965 8358 Fax: +359 2 944 5010
Email: vgyulev@baefinvest.com

Mr. Stoyan Dinchiiski, Executive Director


Tel: +359 (2) 9658 345
Fax: +359 2 944 5010
Email: stoyand@baefinvest.com

3. DSK Bank
The EBRD has provided DSK Bank with a credit line for on-lending to SMEs as
part of the EU/EBRD SME Finance Facility. The EBRD is also providing technical
cooperation, funded by EU Phare, to help develop efficient SME lending
practices.

DSK Bank
1, Kaloyan Street, 1000 Sofia, Bulgaria

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Contact:
Mr. Yordan Yordanov, Head of Project Finance, DSK Bank EAD
Tel: +359 (2) 9391 645 Fax: +359 (2) 9391 787

4. Hebros Bank
In 2001 and 2004 respectively the EBRD has provided Hebros Bank with two
credit lines for on-lending to SMEs as part of the EU/EBRD SME Finance
Facility. These have been fully repaid by Hebros Bank. Hebros Bank has also
benefitted from EU-funded technical co-operation support aimed at improving its
SME lending activities.

Hebros Bank
Tzum Business Centre, 2 Boulevard Knyagina Maria, Luiza, 1558 Sofia, Bulgaria

Contact:
Mr Alexander Tsachev
Tel: +359 2 926 0500 Fax: +359 2 926 0560
Email: corporate.office@hebros.bg

5. Raiffeisen Bank Bulgaria AD


The EBRD has provided Raiffeisen Bank Bulgaria with a credit line for on-lending
to SMEs as part of the EU/EBRD SME Finance Facility. Raiffeisen Bank also
benefits from EU-funded technical co-operation funds to develop its SME lending
activities.

Raiffeisen Bank AD
18-20 Gogol street, 1504 Sofia, Bulgaria
http://www.raiffeisen.bg

Contact:
Mrs. Nadezhda Mihaylova
Tel: +359 2 91 985 101 Fax: +359 2 91 985 105
Email: nadezhda.mihaylova@rbb-sofia.raiffeisen.at

6. Société Générale Expressbank


The EBRD has provided Société Générale Expressbank with a credit line for on
lending to SMEs as part of the EU/EBRD SME Finance Facility. SG Expressbank
also benefits from EU-funded technical cooperation support aimed at developing
its SME lending activities.

Société Générale Expressbank


73, Al. Stamboliyski Blvd., 1303 Sofia, Bulgaria

Contact:
Mr. Philippe Lame, Executive Director

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Tel: +359 2 937 0443 Fax: +359 2 981 7905


Email: PhilippeLame@sgexpressbank.bg

Mr. Olivier Andre, Deputy Director, Corporate Banking


Tel: +359 2 937 0409
Email: olivierandre@sgexpressbank.bg

7. United Bulgarian Bank Plc


The EBRD has provided UBB in June 2002 with a credit line (increased in June
2005) for on-lending to SMEs as part of the EU/EBRD SME Finance Facility.
Technical cooperation, funded by EU Phare, is also provided with an objective to
introduce efficient SME/micro lending practices in the bank. The EBRD has also
provided UBB with a credit line for on-lending to micro/SME companies based in
rural areas in Bulgaria. The credit line is part of the EU/EBRD SME Finance
Facility Rural Window which aims to stimulate lending in rural areas of EU
accession countries. The credit line is accompanied by a EU-funded technical
cooperation package.

United Bulgarian Bank Plc


5 Sveta Sofia Street, 1000 Sofia, Bulgaria

Contact:
Mrs Hrisimira Malcheva
Manager, International Lending Programs, SME Credit Centre
Tel: +359 2 811 2229 Fax: +359 2 811 2402
Email: malcheva_h@ubb.bg

Stefan Vassilev, Manager, SME & International Lending Programmes


Tel: +359 2 811 259 Fax: +359 2 811 2402
vassilev_st@ubb.bg

8. C. B. Unionbank AD
The EBRD has provided Unionbank with a €6 million credit line for on-lending to
SMEs as part of the EU/EBRD SME Finance Facility. Unionbank was the first
bank in Bulgaria to benefit from this finance facility. With a five-year maturity, the
credit line allows Unionbank, a universal bank, to expand its lending activities to
small enterprises in Bulgaria with loans ranging up to €125,000 and with
maturities of up to 48 months. Unionbank has also benefitted from EU-funded
technical cooperation support to help improve SME lending practices.

C. B. Unionbank AD
10-12 Damyan Gruev Street, 1606 Sofia, Bulgaria
http://www.unionbank.bg

Contact:
Mrs Anna Asparuhova, Executive Director

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Tel. +359 2 9153 318


Email: AsparuhovaA@unionbank.bg

Mr Zhivko Zhivin, International Project Finance


Tel: +359 2 9153 368
Email: ZhivinZh@unionbank.bg

Micro and small business loan programme

ProCredit Bank (Bulgaria) A.D.


EBRD is a founding shareholder in ProCredit Bank (Bulgaria) A.D., a bank
specialised in providing financial services to micro and small enterprises in
Bulgaria. The bank began its operation in October 2001, and since its
establishment, has rapidly expanded its regional branch network. Besides
business loans, ProCredit Bank offers a wide range of banking products
including, overdraft facilities, credit lines, consumer and mortgage loans as well
as bank guarantees, letters of credit etc. Other banking services offered by
ProCredit Bank (Bulgaria) A.D. are as follows: current accounts in BGN, EUR,
USD; various attractive savings and deposit programmes; debit cards; foreign
currency exchange; domestic and international money transfers. Furthermore,
the ProPay system is assisting customer transfers within the ProCredit Bank
Group. The bank is also able to offer efficient solutions for cash management (all
operations within branch network are in real-time) as well as internet banking
(ProBanking).
For more information please see www.procreditbank.bg.

Leasing

Hebros Leasing
A first credit line of EUR 5 million was agreed with Hebros Leasing in November
2004 under the EU/EBRD SME Finance Facility. A second credit line of EUR 5
million was agreed in January 2006. Both credit lines are accompanied by
technical cooperation support financed by the EC Phare Programme. This will
enable Hebros Leasing to further focus on offering leasing products to Bulgarian
SMEs.

Hebros Leasing
22 Zlaten rog Str. 1407 Sofia, Bulgaria

Contact:
Stanislav Tanushev, CEO
Tel: +359 2 9603 955 Fax: +359 2 9603 951
E-Mail: ceo@hebros-leasing.com

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Slavcho Ranensky, Manager, Structured Finance Department


Tel: +359 (2) 9603 974 Fax:+359 (2) 9603 953
E-mail: slavcho.ranensky@hebros-leasing.com

Raiffeisen Leasing Bulgaria


A EUR 10 million credit line was provided to Raiffeisen Leasing Bulgaria under
the EU/EBRD SME Finance Facility in May 2006. This credit line is accompanied
by performance fee and technical cooperation support financed by the EC Phare
Programme. The project will enable Raiffeisen Leasing to focus on offering
leasing products to Bulgarian SMEs and adapt its procedures accordingly.

Raiffeisen Leasing Bulgaria OOD


Business Park Sofia Building 11, floor 4, 1715 Sofia, Bulgaria

Contact:
Ekaterina Hristova, Executive Director
Tel: +359/2/9707979 Fax: +359/2/974 2057
Email: ekaterina.hristova@rbb-sofia.raiffeisen.at

Unionleasing
Unionleasing EAD is a Bulgarian leasing company, a subsidiary of Unionbank AD
(Bulgaria), specialized in servicing private entrepreneurs and small and medium
sized private companies in Bulgaria. Unionleasing EAD offers financial leases for
acquisition of equipment and machinery for business purposes, including
commercial vehicles; industrial equipment; and agricultural machinery. In
December 2005 the EBRD provided Unionleasing with a credit line for on-lending
to SMEs as part of the EU/EBRD SME Finance Facility. This is accompanied by
technical cooperation support financed by the EC Phare Programme.

Unionleasing EAD
38 Madrid Blvd
1505 Sofia, Bulgaria

Contact:
Mr. Rosen Mishev, Executive Director
Tel: +359 2 942 78 27 Fax: +359 2 942 38 17
Email: mishevr@unionbank.bg

Equity finance

1. Caresbac Bulgaria A.D.


This investment company invests in private SMEs. It focuses on majority
Bulgarian-owned companies in the agribusiness and light manufacturing sectors,

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

with an emphasis on the export sector. Its investments typically range from US$
50,000 to US$ 350,000.

Caresbac Bulgaria A.D.


45 Oborishte Street 1504 Sofia, Bulgaria

Contact:
Mr Brian Shriver, Regional Director, Bulgaria/FYR
Macedonia/Croatia/Romania
Tel: +359 2 943 4163/4417/4041/4979 Fax: +359 2 943 4163/4417/4041/4979
Email: office@seaf.bg Web site: www.seaf.bg

2. ECM-Bulgarian Post-Privatisation Fund


This venture capital fund provides new equity capital and management
assistance to private and privatised enterprises in Bulgaria. Its investments range
from €1 million to €6 million.

ECM-Bulgarian Post-Privatisation Fund


1 Svoboda Square, 4th Floor 1421 Sofia, Bulgaria

Contact: Mr Antonio Perez Montes, Managing Director


Tel: +359 2 960 0205/960 0200 Fax: +359 2 981 5812
Email: apmr@ecm.bg Web site: www.ecm.cz

3. EuroMerchant Balkan Fund


The Fund supports the expansion of international industrial companies in
Bulgaria and Romania, typically in joint ventures with local partners. The Fund
does not invest less than US$ 250,000 or more than US$ 4 million. As of early
1999, the Fund had committed more than 80 per cent of its capital resources,
with the remainder reserved for follow-up on existing projects. Another fund
under the management of Global Finance (the Black Sea Fund) was established
in 1998 with US$ 62 million to continue the activity of the EuroMerchant Balkan
Fund in a wider region of countries. The desired investment range is between
US$ 2 million and US$ 9 million.

Global Finance International


39 Vitosha Blvd, 1st Floor 1000 Sofia, Bulgaria

Contact: Mr Mirolub Voutov, General Manager


Tel: +359 2 980 2061/8246/1619 Fax: +359 2 980 8245
Email: globfin@bg400.bg

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Czech Republic

1. Ceska Sporitelna
The EBRD has provided Ceska Sporitelna with two credit lines for on-lending to
SMEs as part of the EU/EBRD SME Finance Facility. Ceska Sporitelna has also
benefitted from EU-funded technical cooperation support to help developing
efficient SME lending practices.

Ceska Sporitelna
PO Box 838 113 98 Prague 1, Czech Republic
Web site: www.csas.cz

Contact:
Mr Jiri Škorvaga, Managing Director, Division of Retail Banking
Tel: +420 2 6107 3494 Fax: +420 2 6107 3149
Email: jskorvaga@csas.cz

2. Československá Obchodní Banka a.s. (CSOB)


The EBRD has taken an equity stake in CSOB, which is a universal bank
operating in the Czech Republic and Slovak Republic. CSOB is the largest bank
in the Czech Republic and provides banking services in CZK, SKK and foreign
currencies to corporate and retail customers, both domestic as well as foreign.
CSOB is the market leader in export financing and in the management and
custody of securities. It is one of the main players in local capital markets. CSOB
complements its traditional banking services in the areas of forfeiting, leasing and
fund management through subsidiaries. Interested parties can contact any
branch of CSOB.

Československá Obchodní Banka a.s.


Na Prikope 14, 115 20 Praha 1
http://www.csob.cz

3. Komercni Banka
The EBRD has provided Komercni Banka with a credit line for on-lending to
SMEs as part of the EU/EBRD SME Finance Facility. The EBRD is also providing
technical cooperation, funded by EU Phare, to introduce efficient SME lending
practices to the bank.

Komercni banka, a.s.


Na Prikope 33, 114 07 Prague 1, Czech Republic

Contact:
Mr. Filip Kotora
Head of Medium Enterprises & Municipalities Market

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Tel: +420 222 432 071 Fax: +420 222 432 690
E-mail: fillip_kotora@kb.cz

4. Raiffeisen Bank AS
The EBRD has provided Raiffeisen Bank with a credit line for on-lending to SMEs
as part of the EU/EBRD SME Finance Facility. Raiffeisen Bank also benefits from
EU-funded technical co-operation funds, aimed at developing its SME lending
practices.

Raiffeisenbank AS
Olbrachtova 9, 140 21 Praha 4, Czech Republic

Contact:
Ms. Eva Machova, Head of SME Segment Department
Tel. +420 221 141 504 Fax: +420 221 142 504
e-mail: eva.machova@rb.cz

Leasing

1. Deutsche Leasing Czech Republic


A credit line of EUR 10 million was provided to Deutsche Leasing Czech
Republic in November 2005 under the EU/EBRD SME Finance Facility. This
credit line was accompanied by a performance fee and technical cooperation
package financed by the EC Phare Programme with the objective to help the
company focus on offering leasing products to Czech SMEs and adapt its
procedures accordingly.

Deutsche Leasing Czech Republic spol.s.r.o.


Nadrazni 23, 15134 Prag, Czech Republic

2. IMPULS-Leasing-AUSTRIA s.r.o.
IMPULS-Leasing-AUSTRIA is a medium-sized leasing company in the Czech
Republic that was founded in 1996. The Company is a member of the
Raiffeisenlandesbank Oberoesterreich banking group. It is the 17th largest
leasing company in the Czech Republic in terms of leased-assets portfolio (2005
figures) with main focus on equipment and machinery as well as heavy transport
vehicles and buses leasing. A credit line of EUR 5 million was provided to
IMPULS-Leasing-AUSTRIA in March 2006 under the Rural Window of the
EU/EBRD SME Finance Facility. This credit line is accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme. This will enable the company to focus on offering leasing products
to Czech SMEs based in rural areas and to adapt its leasing procedures
accordingly.

IMPULS-Leasing-AUSTRIA s.r.o.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

Mr. Ivan Kadecka, Managing Director


Dlouha 26, 11000 Prague 1, Czech Republic
Tel: +420 224 819 081 Fax: +420 224 819 088
Email: kadecka@ILaustria.cz

3. Raiffeisen-Leasing s.r.o.
A credit line of EUR 5 million was provided to Raiffeisen Leasing in January 2003
under the EU/EBRD SME Finance Facility and was accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme with the view to enable the company to focus on offering leasing
products to Czech SMEs and to streamline its procedures accordingly.

Raiffeisen-Leasing s.r.o.
Olbrachtova 9, 140 21 Prague, Czech Republic

Contact:
Mr Richard Dvorak, Director
Tel: +420 221 511 611 Fax: +420 221 511 666

4. SG Equipment Finance Czech Republic s.r.o.


SG Equipment Finance is one of the most important players on the leasing
market in the Czech Republic. Its leasing business is focused on commercial
vehicles, machinery, computers and other industrial equipment. Company is part
of SG Equipment Finance group that delivers financial services throughout
Europe in 17 countries. This is a leading group in Europe in equipment finance
and vendor finance areas. Société Générale financial group of companies has 15
million customers and 88,000 employees worldwide. A credit line of EUR 20
million was provided to SG Equipment Finance Czech Republic under the
EU/EBRD SME Finance Facility in November 2003 and was accompanied by
performance fee and technical cooperation support financed by the EC Phare
Programme. This credit line was increased by EUR 10 million in December 2005.
A further credit line of EUR 10 million was signed in September 2006, this time
under the Rural Window of the EU/EBRD SME Finance Facility, which aims to
stimulate activities in rural areas, and is also accompanied by a performance fee
and technical cooperation package funded by EU Phare.

SG Equipment Finance Czech Republic s.r.o.


Antala Staska 2027/79, 14000 Praha 4, Czech Republic
Christian Eymery, Managing Director
Tel: +420 225 988 501 Fax: +420 225 988 585
E-mail: christian.eymery@socgen.com

5. South MORAVA Leasing a.s. (leasing/Rural)


S MORAVA Leasing a.s. is a universal leasing company offering financial leases
with focus on machinery and equipment (including agricultural machines), trucks
and heavy transportation vehicles. The company has been active on the Czech

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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market since 1991 and it is the 12th largest leasing company in the Czech
Republic in terms of new business volume (2005 figures). S MORAVA Leasing is
owned by Weinviertler Sparkasse AG, Austrian saving bank. A credit line of EUR
5 million was provided to S MORAVA Leasing a.s.in April 2006 under the Rural
Window of the EU/EBRD SME Finance Facility. This credit line is accompanied
by a performance fee and technical cooperation package financed by the EC
Phare Programme. This will enable the company to focus on offering leasing
products to Czech SMEs based in rural areas and to adapt its leasing procedures
accordingly.

S MORAVA Leasing a.s.


Mr. Zdenek Mrna, Managing Director and President of the Board of Directors
Horni namesti 264/18, 669 02 Znojmo, Czech Republic
Tel: +420 515 200 505 Fax: +420 515 200 512
E-mail: zmrna@smorava.cz Internet: www.smorava.cz

Equity Finance

1. Czech & Slovak Investment Corporation Inc.


The EBRD is a co-sponsor of the Czech & Slovak Investment Corporation. This
fund will provide equity finance to medium-sized local enterprises and joint
ventures. Investments range from US$ 2 million to US$ 7 million.

Fleming Investment Management Ltd


Celetnà 19 116 22 , Prague 1,
Czech Republic

Contacts:
Mr Julian Healy, Director;
Mr Milan Hladik, Representative
Tel: +420 2 2481 2711 Fax: +420 2 2481 1487
Email: flemings@flemings.cz

2. Czech Direct Equity Fund


The fund is not making any new investments. The EBRD is a lead investor in the
Fund, which was established to make direct equity investments primarily in
medium-sized companies in the Czech Republic. The Fund invested in
companies undergoing or in need of restructuring and has total capital
commitments of about US$ 60 million. Investment size ranged from US$ 3 million
to US$ 9 million.

CDA s.r.o.
Vaclavske Namesti 57/813, 110 00 Prague 1, Czech Republic
Tel: +420 2 2166 2166 Fax: +420 2 2166 2177/76
Web site: www.cda.cz

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3. GIMV Czech and Slovak SME Fund


The EBRD is an investor in this private equity fund, which invests in SMEs in the
Czech Republic and Slovak Republic. The Fund seeks to achieve long-term
capital appreciation by taking significant stakes in portfolio companies through
negotiated transactions while taking an active role to positively influence their
financial structure, business strategy, operations and management. The
aggregate investment in any single company ranges from €300,000 to €1 million.

GIMV
Karel Oomstraat 37 2018 Antwerp, Belgium

Contact:
Mr Paul Vanoverloop, Managing Director
Tel: +32 3 290 2121 Fax: +32 3290 2105
Email: paulvo@gimv.be Web site: www.gimv.com

GIMV Czech Partners Management Company B.V


Drentestraat 20 1083
Amsterdam, Netherlands

Contact:
Mr Paul Vanoverloop, Representative
Tel: +32 495 597288
Web site: www.gimv.com

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Estonia

1. AS Sampo Pank
The EBRD has provided AS Sampo Pank with a credit line for on-lending to
SMEs as part of the EU/EBRD SME Finance Facility. Sampo Pank has also
benefitted from EU-funded technical cooperation funds aimed at improving its
SME lending practices.

AS Sampo Pank
PO Box 19, Narva mnt. 11, 10250 Tallinn, Estonia

Contact:
Mr. Peep Turo, Head of Risk Dept
Tel: +372.630.2575 Fax: +372.630.2502
Email: p.turo@sampopank.ee

Mr. Tauno Vanaselja, Director of Corporate Loans Dept


Tel: +370.630.2101 Fax: +372.630.2502
Email: t.vanaselja@sampopank.ee

Leasing

Hansa Capital
Hansa Capital is a syndicated leasing finance facility. Hansa Capital, a member
of the Pan-Baltic Hansa Capital Group, offers financial and operating leases, as
well as other asset-based financing solutions on commercial vehicles, real
estate, industrial equipment, cars and agricultural machinery. Hansa Capital
Group companies also offer domestic and international factoring services. Hansa
Capital has subsidiaries offering leasing and factoring services in Latvia,
Lithuania and Estonia. In June 2003 Hansa Capital was provided with a credit
line of EUR 30 million under the EU/EBRD SME Finance Facility and this was
accompanied by a performance fee package financed by the EC Phare
Programme. This enabled the company to focus on offering leasing products to
SMEs.

AS Hansa Capital
12 Liivalaia Street, 15039 Tallinn, Estonia

Contact:
Mr Gerd Krieger, Head of Leasing Department
Tel: +372 613 1267 / 613 1828 Fax: +372 613 1590
Mr Tarmo Karsna, Director of Leasing
Tel: +372 613 1496 Fax: +372 613 1493
E-mail: tarmo.karsna@hansa.ee

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Equity Finance
1. Baltic Investment Fund and Baltic Investment Fund III
The Baltic Investment Funds have total capital of €77 million and invest private
equity in medium-sized companies operating in Estonia, Latvia and/or Lithuania.
The investment range is €0.3 million to €7.5 million. Smaller or larger
investments will be considered on a case-by-case basis. The funds seek to
acquire significant minority stakes in companies that are well managed and have
good growth potential.

Baltcap Management Oy
Mannerheimintie 14 B , 00100 Helsinki, Finland

Contact:
Mr Jarmo Rautiainen,
Managing Director
Tel: +358 20 198 5661 Fax: +358 20 198 5665
Email: jarmo.rautiainen@baltcap.inet.fi Web site: www.baltcap.com

Baltcap Management Ltd


Parnu mnt. 10, 10148 Tallinn, Estonia

Contact:
Ms Ruth Laatre, Partner
Tel: +372 6 405 710 Fax: +372 6 405 730
Email: ruth.laatre@baltcap.ee

2. Baltic Small Equity Fund


The Fund was set up to invest in SMEs in the three Baltic states in a broad range
of industry sectors. Its operation is based on a partnership between the Fund and
the investee companies. The Fund takes a minority stake in investee companies,
with investments in the range of US$ 50,000 to US$ 400,000.

Small Enterprise Assistance Funds


1100 17th Street NW, Suite 1101, 20036 Washington DC, United States of
America

Contact: Mr Hubertas van der Vaart, President


Tel: +1 202 737 8463 Fax: +1 202 737 5536
Email: hubertus@seafweb.org Web site: www.seafweb.org

Regional contact Baltics Small Equity Fund


Parnu Mnt 142, 6th Floor, 11317 Tallinn, Estonia

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Contact:
Mr Gary Dodge, Director General
Tel: +372 651 2691 Fax: +372 651 2693
Email: bsef@bsef.ee Web site: www.bsef.ee

3. Baltic SME Fund CV


The Fund invests private equity in smaller growth companies in Estonia, Latvia
and/or Lithuania. The concept of the fund was initiated by EBRD, with support
from EU Phare under the SME Finance Facility. The Fund’s objective is to
promote the growth of the portfolio companies and achieve an attractive return
over the medium term. Investment proceeds will be used to finance expansion
projects. Target companies are likely to be in growth sectors such as IT,
communications, media, services, distribution and biotechnology. The fund shall
invest between €300,000 and €1 million to acquire significant minority equity
stakes in investee companies.

BaltCap Management Oy
Mannerheimintie, 14 B 00100 Helsinki, Finland

Contact:
Mr Jarmo Rautiainen, Managing Director
Tel: +358 20 198 5661 Fax: +358 20 198 5665
Email: jarmo.rautiainen@baltcap.inet.fi Web site: www.baltcap.com

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Hungary

1. OTP Bank Rt
Nador str. 16, 1876 Budapest, Hungary
http://www.otpbank.hu

Contact:
Mr Robert Zelenak, Senior Managing Director (contact for corporate loans)
Tel: +36 1 301 9530 Fax: +35 1 301 5878
Email: zelenak@otpbank.hu

Mr Erno Kelecsenyi, Head of Department


Tel: +361 302 9504 Fax: +361 302 9509
Email: VUF@otpbank.hu

Mr Gabor Lovaszi, Principal Banker


Tel: +361 111 3633 Fax: +361 111 3879

2. Budapest Bank Rt.


The EBRD has an equity participation in Budapest Bank, which focuses on
commercial lending to private sector SMEs, Treasury products and, increasingly,
consumer finance, mortgages and retail services via its subsidiaries. It offers
leasing products to both consumers and corporations.

Budapest Bank Rt.


Alkotmány u. 3, 1054 Budapest, Hungary
http://www.budapestbank.hu

Contact:
Mr Richard Pelly, Chief Executive Officer
Tel: +36 1 328 1695/1617 Fax: +36 1 269 2400

3. OTP Bank Ltd.


The EBRD has an equity stake in OTP Bank Ltd. and has provided a long-term
subordinated loan. The bank provides universal banking services.

OTP Bank Ltd.


Nador str. 16, 1876 Budapest, Hungary
http://www.otpbank.hu

Contact:
Mr Robert Zelenak, Senior Managing Director (contact for corporate loans)
Tel: +36 1 301 9530 Fax: +35 1 301 5878
Email: zelenak@otpbank.hu

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4. Volksbank Hungary
The EBRD has provided Volksbank Hungary with two credit lines for on-lending
to SMEs as part of the EU/EBRD SME Finance Facility. The EBRD has also
provided technical cooperation, funded by EU Phare, to introduce efficient SME
lending practices to the bank.

Volksbank Hungary
Rakoczi ut 7, 1088 Budapest, Hungary
http://www.volksbank.hu

Contact:
Attila Biro, Senior Risk Manager
Tel: +36.1.328.6725
Email: Attila.biro@volksbank.hu

Leasing

1. Budapest Leasing
Budapest Leasing is one of the four leasing companies of BB, specializing in
financial leasing of equipment and commercial vehicles. The company is now
exclusively engaged in financial leases. Its portfolio comprises vehicles (trucks
and other commercial vehicles), medical equipment, industrial machinery, office
(IT) and agricultural equipment. A EUR 20 million credit line was provided to
Budapest Leasing in December 2003 under the EU/EBRD SME Finance Facility
and was accompanied by a performance fee and technical cooperation package
financed by the EU Phare Programme. The credit line was increased by EUR 5
million in June 2005 and this will enable the company to further focus on offering
leasing products to Hungarian SMEs.

Budapest Lizing Rt.


Váci út 202, 1138 Budapest, Hungary

Contact:
Mr. Balázs Báti, Head of Leasing
Tel: 36 1 450 7249 Fax: +36 1 450 6013

2. CIB Leasing
CIB Leasing is one of the five leasing companies of the CIB Leasing Group, a
subsidiary of CIB Bank, a Banca Intesa affiliate in Hungary. The Company leases
equipment and vehicles to SMEs on a finance lease basis, in addition to car
financing to the retail and corporate sectors. The portfolio consists of vehicles
(personal cars, trucks and other commercial vehicles), medical equipment,
industrial machinery, office (IT) and agricultural equipment. A EUR 10 million
credit line was provided to CIB Leasing in February 2004 under the EU/EBRD
SME Finance Facility and was accompanied by a performance fee package

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financed by the EC Phare Programme. This credit line was increased by EUR 3
million in June 2005. This will enable the company to further focus on offering
leasing products to Hungarian SMEs.

CIB Leasing
Váci út 140, H-1138 Budapest, Hungary
Tel: 36 1 485 9800 Fax: 36 1 489 6700
Contact:
Mr Géza Mihályi, Financial Director
E-mail: gmihalyi@cib.hu

3. Deutsche Leasing Hungary


Deutsche Leasing Hungary was provided with a EUR 10 million credit line in
November 2005 under the EU/EBRD SME Finance Facility. This credit line is
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme, with the view to enable the company to focus on
offering leasing products to Hungarian SMEs and adapt its procedures
accordingly.
Deutsche Leasing Hungary
Sodrás utca 11
1026 Budapest

4. Eszközfinanszírozás Magyarország Rt.


A EUR 10 million credit line was provided to Eszközfinanszírozás Magyarország
Rt. in December 2004 under the EU/EBRD SME Finance Facility and was
accompanied by a performance fee package financed by the EC Phare
Programme.

5. HVB Leasing Hungary


A EUR 10 million credit line was provided to HVB Leasing Hungary in December
2004 under the EU/EBRD SME Finance Facility and was accompanied by a
performance fee and technical cooperation package financed by the EU Phare
Programme, with the view to help the company focus on offering leasing
products to Hungarian SMEs and adapt its procedures accordingly.

HVB Leasing Hungary Rt.


Hegyalja ut 7-13, H-1016 Budapest, Hungary

Contact:
Dr. Aniko Magashazi, Managing Director
Tel: +36 1 489 7800 Fax: +36 1 202 2456
E-Mail: aniko.magashazi@hvb-leasing.hu

Mr Gyula Kobli, Managing Director


Email: gyula.kobli@hvb-leasing.hu

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6. Merkantil Car Leasing


A EUR 10 million credit line was provided to Merkantil Car Leasing in June 2005
under the EU/EBRD SME Finance Facility. This credit line is accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme, with the objective to help the company focus on offering leasing
products to Hungarian SMEs and adapt its procedures accordingly.

Merkantil Car Gépjarmu Lizing Rt.


Jozsef Attila u. 8, H-1051 Budapest, Hungary

7. MKB Euroleasing
MKB Euroleasing, one of the principal operating companies in the Euroleasing
Group, was provided with a credit line of EUR 10 million in July 2003 under the
EU/EBRD SME Finance Facility. The facility is being used to provide
lease/vehicle financing to Hungarian SMEs, specifically for light commercial
vehicles (LCVs) and cars for commercial use.

MKB Euroleasing
Bimbo ut 56, H-1022 Budapest, Hungary

Contact:
Balazs Farkas, Chairman
Tel: + 361 345 2380 Fax: +361 326 8434
E-mail: balazs.farkas@euroleasing.hu

Equity Finance

Hungarian Equity Partners L.P.


The partnership invests in medium-sized Hungarian private companies to fund
specific projects or investment programmes for the creation, modernization or
working capital requirements of portfolio companies. Investment is predominantly
in primary issues of unquoted companies but may involve investment in quoted
companies' acquisition of secondary shares if this involves privatization or
strengthening of the partnership's position in a portfolio investment. The
partnership may also invest in early-stage companies with high growth potential
and management buy-outs. The preferred investment size is between US$ 3
million and US$ 6 million.

MAVA Investment Management Kft


U. Romer Floris 57, 1023 Budapest, Hungary

Contact:
Mr Zoltan Szemerey, Managing Director
Tel: +36 1 315 0644/45 Fax: +36 1 315 0444
Email: agnes.herczeg@mava.hu Web site: www.mava.hu

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Latvia

1. A/S Latvijas Unibanka


The EBRD has provided Latvijas Unibanka with two credit lines for on-lending to
SMEs under the EU/EBRD SME Finance Facility. This was the first credit line
extended to a Latvian bank under this Facility. Latvijas Unibanka has also
benefited from EU-funded technical cooperation support to help develop
appropriate SME lending practices.

A/S Latvijas Unibanka


Unicentrs, Kekavas pagasts, Rigas rajons, LV-1076, Latvia
http://www.seb.lv

Contact:
Ms Inga Uvarova, Head of Corporate Services Development Unit
Tel: +371 721 5323 Fax: +371 721 5453
Email: inga.uvarova@seb.lv

2. A/S Rietumu Banka


The EBRD has provided Rietumu Banka with a €5 million credit line for on
lending to SMEs under the EU/EBRD SME Finance Facility, and with a
€60million syndicated loan to ensure medium-term funding for providing loans to
corporate customers in Latvia. Under the SME Finance Facility the EBRD has
also provided technical cooperation support to the bank to help develop
appropriate SME lending practices.

Rietumu Banka
39 Brivibas Street. Riga LV-1010, Latvia
http://www.rietumu.lv

Contact:
Margarita Shteinbaha, Head of Division, Loan Dept (regarding SME credit line)
Tel: +371 702 5253 Fax: +371 702 5242
Email: mshteinbaha@rietumu.lv

Alexei Generalov, Treasurer, Treasury Division (regarding syndicated loan)


Tel: +371 702 5284 Fax: +371 702 5226
Email: alex@rietumu.lv

Leasing

SIA SEB Utilizing


The EBRD has provided SEB Utilizing, a subsidiary of SEB Latvijas Unibanka,
with a EUR15 million credit line in July 2003 as part of the EU/EBRD SME

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Finance Facility. This credit line is accompanied by a performance fee and


technical cooperation package financed by the EC Phare Programme. This
enables the company to focus on offering leasing products to Latvian SMEs and
to adapt its procedures accordingly.

SIA SEB Unilizings


Krasta iela 105a, LV-1019, Riga, Latvia
http://www.seb.lv

Contact:
Mr Agris Kezbers, Finance Director
Tel: +371 721 5372 Fax: +371 721 5714
Email: agris.kezbers@seb.lv

Equity Finance

1. Baltic Investment Fund and Baltic Investment Fund III


The Baltic Investment Funds have total capital of €77 million and invest private
equity in medium-sized companies operating in Estonia, Latvia and/or Lithuania.
The investment range is €0.3 million to €7.5 million. Smaller or larger
investments will be considered on a case-by-case basis. The funds seek to
acquire significant minority stakes in companies that are well managed and have
good growth potential.

Baltcap Management Oy
Mannerheimintie 14 B, 00100 Helsinki, Finland

Contact:
Mr Jarmo Rautiainen, Managing Director
Tel: +358 20 198 5661 Fax: +358 20 198 5665
Email: jarmo.rautiainen@baltcap.inet.fi Web site: www.baltcap.com

Baltcap Management
Tirgonu iela 11, 1010 Riga, Latvia

Contact:
Mr Dagnis Dreimanis, Investment Manager
Email: dagnis.dreimanis@baltcap.com

2. Baltic Small Equity Fund


The Fund was set up to invest in SMEs in the three Baltic states in a broad range
of industry sectors. Its operation is based on a partnership between the Fund and

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the investee companies. The Fund takes a minority stake in investee companies,
with investments in the range of US$ 50,000 to US$ 400,000.

Small Enterprise Assistance Funds


1100 17th Street NW, Suite 1101
20036 Washington DC, United States of America

Contact: Mr Hubertas van der Vaart, President


Tel: +1 202 737 8463 Fax: +1 202 737 5536
Email: hubertus@seafweb.org Web site: www.seafweb.org

3. Baltic SME Fund CV


The Fund invests private equity in smaller growth companies in Estonia, Latvia
and/or Lithuania. The concept of the fund was initiated by EBRD, with support
from EU Phare under the SME Finance Facility. The Fund’s objective is to
promote the growth of the portfolio companies and achieve an attractive return
over the medium term. Investment proceeds will be used to finance expansion
projects. Target companies are likely to be in growth sectors such as IT,
communications, media, services, distribution and biotechnology. The fund shall
invest between €300,000 and €1 million to acquire significant minority equity
stakes in investee companies.

BaltCap Management Oy
Mannerheimintie 14 B 00100 Helsinki, Finland

Contact:
Mr Jarmo Rautiainen, Managing Director
Tel: +358 20 198 5661 Fax: +358 20 198 5665
Email: jarmo.rautiainen@baltcap.inet.fi Web site: www.baltcap.com

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Lithuania

1. AB Šiaulių Bankas
The EBRD has provided Šiaulių Bankas with a five-year credit line for on-lending
to SMEs as part of the EU/EBRD SME Finance Facility. The EBRD has also
provided technical cooperation, funded by EU Phare, to promote efficient SME
lending practices at the bank.

AB Šiaulių Bankas
Tilzes St 149, 5400 Siauliai, Lithuania
http://www.sb.lt

Contact:
Mr Donatas Savickas, Deputy Chairman of the Board
Tel: +370 41 595 602 Fax: +370 41 430 774
Email: donatass@sb.lt

Ms. Daiva Kiburiene, Head of Corporate & Retail Banking (& responsible for
EBRD’s SME credit line)
Tel: +370.41.595.609 Fax: +370.4143.0774
Email: kidaiva@sb.lt

Equity Finance

1. Baltic Post-Privatisation Fund


The prime objective of the Fund is to invest equity and assist in the restructuring
and development of selected private or privatised companies in Latvia, Lithuania
and/or Estonia. The Fund aims to secure a return on investment commensurate
with risks over a seven-year period. This will be achieved by providing new equity
capital combined with technical assistance to facilitate the restructuring and
modernisation of businesses and thereby to contribute to the development of the
local economy as a whole. Investments will usually be between €0.5 million and
€4.0 million.

Scandinavian Baltic Development Ltd.


Sermuksniu Street 1/13-7, 2001 Vilnius, Lithuania

Contact:
Mr Arvydas Strumskis, Investment Director
Tel: +370 2 791 538 Fax: +370 2 791 691
Email: ars@sc-baltic.com Web site: www.sc-baltic.com

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Baltics Small Equity Fund


Lukiskiu 5-319, 2600 Vilnius, Lithuania
Tel: +3702 250 997 Fax: +3702 251 002

2. Baltic Investment Fund and Baltic Investment Fund III


The Baltic Investment Funds have total capital of €77 million and invest private
equity in medium-sized companies operating in Estonia, Latvia and/or Lithuania.
The investment range is €0.3 million to €7.5 million. Smaller or larger
investments will be considered on a case-by-case basis. The funds seek to
acquire significant minority stakes in companies that are well managed and have
good growth potential.

Baltcap Management Oy
Mannerheimintie 14 B, 00100 Helsinki, Finland

Contact:
Mr Jarmo Rautiainen, Managing Director
Tel: +358 20 198 5661 Fax: +358 20 198 5665
Email: jarmo.rautiainen@baltcap.inet.fi Web site: www.baltcap.com

Baltcap Management
Gostauto 40, 2009 Vilnius, Lithuania
Mr Vygandas Juras, Representative
Tel: +370 2 362 783 Fax: +370 2 362 784
Email: vygandas.juras@baltcap.com

3. Baltic Small Equity Fund


The Fund was set up to invest in SMEs in the three Baltic states in a broad range
of industry sectors. Its operation is based on a partnership between the Fund and
the investee companies. The Fund takes a minority stake in investee companies,
with investments in the range of US$ 50,000 to US$ 400,000.

Small Enterprise Assistance Funds


1100 17th Street NW, Suite 1101, 20036 Washington DC, USA
Contact: Mr Hubertas van der Vaart, President
Tel: +1 202 737 8463 Fax: +1 202 737 5536
Email: hubertus@seafweb.org Web site: www.seafweb.org

Baltic Small Equity Fund


Lukiskiu 5-319, 2600 Vilnius, Lithuania
Tel: +3702 250 997 Fax: +3702 251 002

4. Baltic SME Fund CV


The Fund invests private equity in smaller growth companies in Estonia, Latvia
and/or Lithuania. The concept of the fund was initiated by EBRD, with support

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from EU Phare under the SME Finance Facility. The Fund’s objective is to
promote the growth of the portfolio companies and achieve an attractive return
over the medium term. Investment proceeds will be used to finance expansion
projects. Target companies are likely to be in growth sectors such as IT,
communications, media, services, distribution and biotechnology. The fund shall
invest between €300,000 and €1 million to acquire significant minority equity
stakes in investee companies.

BaltCap Management Oy
Mannerheimintie, 14 B 00100 Helsinki, Finland

Contact:
Mr Jarmo Rautiainen, Managing Director
Tel: +358 20 198 5661 Fax: +358 20 198 5665
Email: jarmo.rautiainen@baltcap.inet.fi Web site: www.baltcap.com

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Poland

1. Bank Gospodarki Żywnościowej S.A. (BGZ)


The EBRD has provided BGZ with a credit line for on-lending to SMEs based in
rural areas of Poland under the Rural Window of the EU/EBRD SME Finance
Facility, which aims to stimulate lending in rural areas of EU accession countries.
The EBRD is also providing technical cooperation, funded by EU Phare, to help
develop efficient SME lending practices at the bank.

Bank Gospodarki Żywnościowej S.A.


ul. Kasprzaka 10/16, 01-211 Warszawa, Poland

Contact:
Mr. Waldemar Maj, Vice President, Member of the Management Board
Tel. +48 22 860 40 35 Fax: +48 22 860 50 33
Email: waldemar.maj@bgz.pl

2. Bank Polska Kasa Opieki S.A. (Pekao SA)


The EBRD has an equity participation in Pekao, which provides financing to large
corporations and to SMEs. The EBRD has also provided the bank with a credit
line for onlending to SMEs under the EU/EBRD SME Finance Facility, as well as
EU-funded technical cooperation support to help developing appropriate SME
lending practices.

Bank Polska Kasa Opieki S.A.


Ul. Grzybowska 53/57, 00-950 Warsaw, Poland
http://www.pekao.com.pl
Contact:
Mr Tomasz Tomaszewski, Director
Tel: +48 22 656 0604 Fax: +48 22 656 0272
Email: tomasz.tomaszewski@pekao.com.pl

3. Bank Zachodni WBK SA


The EBRD has provided Bank Zachodni/WBK with three credit lines for on
lending to SMEs under the EU-EBRD SME Finance Facility as well as EU-funded
technical cooperation support to help developing efficient SME lending practices.

Bank Zachodni WBK SA


Wladyslawa Andersa 5, 61-894 Poznan
http://www.bzwbk.pl
Contact:
Rafał Bednarek, Director
Tel: +48 61 850 3374 Fax: +48 61 850 3377
Email: rafal.bednarek@bzwbk.pl

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4. Fortis Bank Polska SA (formerly PPA Bank)


The EBRD has provided Fortis Bank Polska with two credit lines for on-lending to
SMEs under the EU/EBRD SME Finance Facility, as well as EU-funded technical
cooperation support to help develop appropriate SME lending practices.

Fortis Bank Polska SA


Ul. Postepu 15, 02-676 Warsaw, Poland

Contact:
Mariusz Nowak, Product co-ordinator
Tel: +48 22 566 92 34 Fax: +48 22 566 9010
Email: mariusz.nowak@fortisbank.com.pl

5. ING Bank Śląski S.A.


The EBRD has provided ING Bank Śląski with two credit lines for on-lending to
SMEs as part of the EU/EBRD SME Finance Facility. Technical cooperation,
funded by EU Phare, was also provided with an objective to promote efficient
SME/micro lending practices at the bank.

ING Bank Śląski S.A.


Plac Trzech Krzyzy 10/14, 00-499, Warsaw, Poland
http://www.ing.pl

Contact:
Mr Michal Tusznio, Product Manager
Tel. (022) 820 41 42 Fax.(022) 820 40 68
Email: michal.tusznio@ingbank.pl

6. PKO Bank Polski S.A.


The EBRD has provided Bank Polski S.A. with a credit line for on- lending to
SMEs. The facility is part of the EU/EBRD SME Finance Facility and the bank
also benefits from EU funded technical co-operation funds to further develop its
SME lending activities.

PKO Bank Polski SA


Ul. Pulawska 15, 00-975 Warsaw, Poland

Contact:
Mr Jarosław Broczkowsk, Manager
Tel: +48.22.521.80 44 Fax: +48.22.5218786
Email: jaroslaw.broczkowski@pkobp.pl

7. Raiffeisen Bank Polska SA


The EBRD has provided Raiffeisen Bank Polska SA with a credit line of €10
million for on-lending to SMEs as part of the EU/EBRD SME Finance Facility as

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well as EU-funded technical cooperation support to help developing appropriate


SME lending practices.

Raiffeisen Bank Polska SA


ul. Piękna 20, 00-549 Warsaw, Poland

Contact:
Mr Matheusz Gołąb, Board Advisor
Tel: +48 22 585 24 05 Fax: +48 22 585 20 29
Email: HMateusz_GOLAB@raiffeisen.pl

Leasing

1. Bankowy Fundusz Leasingowy S.A.


Bankowy Fundusz Leasingowy S.A. was provided with a EUR 15 million credit
line in September 2005 under the EU/EBRD SME Finance Facility. This was
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme with the view to help the company focus on offering
leasing products to Polish SMEs.

Bankowy Fundusz Leasingowy S.A.


Tymienieckiego 30A, 90-350, Łódź, Poland

2. BZ WBK Finanse & Leasing S.A.


A EUR 7 million credit line was provided to BZ WBK Finanse & Leasing in
September 2006 under the Rural Window of the EU/EBRD SME Finance Facility.
This credit line is accompanied by a performance fee package financed by the
EC Phare Programme and aims to increase the availability of leasing products
for Polish SMEs based in rural areas.

BZ WBK Finanse & Leasing


Pl. Andersa 5, 61-894 Poznań, Poland

3. BZ WBK LEASING S.A.


BZ WBK Leasing is a top rank car and vehicle leasing provider to small and
medium size companies in Poland. A EUR 15 million credit line was provided to
BZ WBK Leasing in December 2003 under the EU/EBRD SME Finance Facility.
The company was also receiving performance fees financed by the EC Phare
Programme. A new credit line of EUR 5 million with a performance fee package
was provided in December 2005, this time under the Rural Window of the
EU/EBRD SME Finance Facility which aims to stimulate activities in rural areas.
The first credit line was increased by EUR 5 million in September 2006. This will
enable the company to further focus on offering leasing products to Polish SMEs.

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BZ WBK Leasing
Plac Andersa 5, 61-894 Poznań, Poland

Contact:
Mr Maciej Kaczor, Manager of the Finance Office
Tel: +48 61 850 3532 Fax: +48 61 850 3590
E-mail: maciej.kaczor@bzwbk.pl

4. Deutsche Leasing Poland S.A.


Deutsche Leasing Poland was provided with a EUR 10 million credit line in
November 2005 under the EU/EBRD SME Finance Facility. This credit line was
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme with the objective to help the company focus on
offering leasing products to Polish SMEs and to adapt its procedures.

Deutsche Leasing Poland S.A.


Wybrzeże Gdyńskie 6 A, 01-531 Warszawa, Poland

5. Europejski Fundusz Leasingowy S.A. (EFL)


EFL is the leading leasing company in Poland, focusing on small ticket items
such as cars, vans, industrial and office equipment. A EUR 20 million credit line
was provided to EFL in December 2002 under the EU/EBRD SME Finance
Facility. This credit line was accompanied by a performance fee package
financed by the EC Phare Programme.

Europejski Fundusz Leasingowy S.A.


Orlat Lwowskich 1, 153-605 Wroclaw, Poland

Contact:
Mr Jakub Malski, Vice President
Tel: +48 71 377 7710 Fax: 48 71 377 7705

6. Raiffeisen-Leasing Polska SA
Raiffeisen-Leasing Polska S.A. (RLPL) was founded in 1998 as an equally-
owned joint venture by Raiffeisen Bank Polska SA and Raiffeisen Leasing
International GmbH. RLPL has been recognised in the market as a company
capable of offering a flexible, non-standard approach towards their customers.
Currently the company offers both finance and operating leases on commercial
vehicles and transportation, cars, industrial machinery and equipment as well as
real estate leasing. In October 2002 RLPL was provided with a credit line of EUR
10 million under the EU/EBRD SME Finance Facility. This credit line was
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme, with the view to help the company focus on
offering leasing products to Polish SMEs and adapt its procedures accordingly. A
second credit line of EUR 5 million (without technical cooperation) was signed in
January 2005.

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Raiffeisen-Leasing Polska S.A.


Al. Jana Pawla II nr. 78, 00-175 Warszawa, Poland
http://www.rl.com.pl

Contact:
Mr Przemyslaw Stańczyk, Board Member
Tel: + 022 562 36 00 Fax: + 022 562 36 01
E-mail: leasing@raiffeisen.pl

7. SG Equipment Leasing Polska Sp. Z.o.o.


SG Equipment Leasing Polska Sp. Z.o.o. (formerly known as Franfinance Polska
Sp. Z.o.o.) is a member of the Société Générale capital group and offers financial
and operating leases on vehicles, industrial equipment and IT equipment. The
EBRD has provided SG Equipment Leasing Polska in November 2003 with a
credit line of EUR 10 million under the EU/EBRD SME Finance Facility in order to
promote the extension of leases to SMEs. This credit line, accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme, was increased by EUR 5 million in May 2006.

SG Equipment Leasing Polska Sp Z.o.o.


Ul Marszalkowska 111, 00-102 Warsaw, Poland
Contact:
Lech Zeyer, CFO
Tel: +48 22 520 46 60 Fax: +48 22 520 46 11
E-Mail: lech.zeyer@sgef.pl
Mariusz Stec, Director
Tel: + 48 22 528 46 60 Fax: +48 22 528 46 11
E-mail: mariusz.stec@sgef.pl

Equity Finance

1. Caresbac Polska S.A. (Caresbac)


The EBRD has subscribed US$ 2.5 million in equity shares in Caresbac, a non-
profit investment company investing in small and medium-sized private
companies, particularly in the agro-industry sector. Caresbac makes investments
on commercial terms in companies promising strong long-term business growth.
Potential clients should require investment in the range of US$ 75,000 to US$
400,000. They should have capital of no more than US$ 500,000 equivalent and
annual turnover of under US$ 1.5 million. Companies should have at least 51 per
cent Polish ownership and not engage in activities harmful to the environment.

Caresbac Polska S.A.


40 Polna Street
00-635 Warsaw, Poland

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Contact:
Mr Piotr Kalaman, Director General
Tel: +48 22 825 6205 Fax: +48 22 825 4650
Email: pkalaman@it.com.pl

Ms Malgorzata Dmytrow, Head of Corporate Loans


Tel: +48 22 825 6205 Fax: +48 22 825 4650
Email: mdmytrow@it.com.pl

2. Central Poland Fund


This fund is a private equity fund that finances the development of private
companies operating in Poland. It is particularly interested in services, but
supports other sectors as well. The objective is to invest in significant minority
stakes and to provide:
• cash for expansion; and
• additional services, such as strategic management assistance,
international contacts, financial advice for maximum value growth and
owner/management motivation.
Investments range from US$ 500,000 to US$1.5 million. The investment horizon
is three to five years, with the preferable exit strategy being through a strategic
sale.

Armada Asset Management Spolka z o.o. (Ltd)


Armada Business Park, Tymienieckiego 30a, 90 350 Lodz, Poland

Contact:
Mr Pawel W Gierynski, Managing Director
Tel: +48 42 677 5555 Fax: +48 42 677 5501
Email: pawel@armada.pl

3. Nova Polonia Private Equity Fund


This fund invests in unlisted small and medium-sized companies in Poland. The
Fund focuses on the regions of Poland rather than concentrating on Warsaw. Up
to five per cent of the Fund's commitments may be invested in other central
European countries. The investment range is from €4 million to €6 million.

AIB WBK Fund Management


Atrium Tower, 25 Al. Jana Pawla II, 00-854 Warsaw, Poland

Contact:
Mr Witold Radwanski, Chief Executive Officer
Tel: +48 22 620 4183 Fax: +48 22 620 4184
Email: witold@aib.pl

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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4. Polish Private Equity Fund


The EBRD, together with the Polish American Enterprise Fund, Creditanstalt
Bankverein and other partners, is a sponsor of a US$ 151 million equity
investment fund set up to invest in Polish private companies that have strong
management and potential for growth. In selected cases, the fund can provide
debt financing in addition to equity. The fund will not invest more than US$ 10
million in the aggregate in one company or more than 30 per cent of the
aggregate amount committed to the funds in any industry in any combination of
equity and loan exceeding US$ 10 million for a single investment. The minimum
size of investment by the fund is US$ 500,000 although investments below this
level are possible through an associated vehicle - the Enterprise Credit
Corporation (ECC) that specialises in financing of smaller companies. In 1995,
ECC was integrated with the First Polish American Bank S.A. The funds are
represented on the supervisory boards of companies in which investments are
made.

Enterprise Investors (EI)


Warsaw Financial Center, ul. Emilii Plater 53, 31 Floor, 00-113 Warsaw, Poland

Contact:
Mr Jacek Sliwicki, Managing Partner
Tel: +48 22 653 4500 Fax: +48 22 653 4555
Email: info@ei.com.pl Web site: www.ei.com.pl

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Romania

1. Alpha Bank Romania SA


The EBRD has provided Alpha Bank Romania with two credit lines for on-lending
to SMEs under theEU/EBRD SME Finance Facility, as well as EU-funded
technical cooperation support to help develop appropriate SME lending practices.

Alpha Bank Romania SA


Neocity Tower, Calea Dorobantilor 237 B, Sector 1, 712811 Bucharest, Romania
http://www.alphabank.ro
Contact:
Ms. Catalina Baltag - Head of Products and Sales Department
Tel: +40 21 209.24.40 Fax: +40 21 231.69.23
Email: cbaltag@alphabank.ro

Mr Sergiu Oprescu, Vice President


Tel: +40 21 209 24 24 Fax: +40 21 231 65 73
Email: s.oprescu@alphabank.ro

2. Banca Comerciala Romana SA


The EBRD has provided Banca Comerciala Romana SA with two credit lines for
on-lending to SMEs as part of the EU/EBRD SME Finance Facility and was also
providing EU-funded technical cooperation to help introduce efficient SME
lending practices.

Banca Comerciala Romana SA


5 Regina Elisabeta Boulevard, Bucharest 3, Romania
Contact:
Mrs. Ramona Ivan, Deputy Director
Tel: +40 21 313 12 46 Fax: +40 21 313 12 46
Email: ramona.ivan@bcr.ro

Mr. Bogdan Tanasescu, Project Manager, Monitoring of External Programs


Tel: +40 21 312 61 85/ 4961 Fax: +40 21 313 12 46/ 4969
Email: Bogdan.Tanasescu@bcr.ro

3. Banca Transilvania
The EBRD has an equity participation in Banca Transilvania and has also
provided the bank with two credit lines for on-lending to SMEs under the
EU/EBRD SME Finance Facility. Banca Transilvania has also benefitted from
EU-funded technical assistance to help introduce efficient SME lending practices.

Banca Transilvania
str.Gh. Baritiu 8, Cluj-Napoca, Romania

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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http://www.bancatransilvania.ro
Contact:
Mihaela Nadasan, Director International Relations
Tel: +40 264 407 150 ext 1107 Fax: +40 264 407 179
Email: mihaela.nadasan@bancatransilvania.ro

Marsela Petreus, Project Manager SME


Tel: +40 264 407 150 Fax: +40 264 407 179
Email: marsela.petreus@bancatransilvania.ro

4. Bancpost SA
The EBRD has provided Bancpost SA with a credit line for on-lending to SMEs
under the EU/EBRD SME Finance Facility. EU-funded technical cooperation
funds were also made available to help develop adequate SME lending
practices.

Bancpost SA
Calea Vitan nr. 6- 6ª, Sector 3, Bucharest 031296
Contact:
Ms Ramona Dascalu – Manager Corporate Governance Division
Tel: +40 21 308 05 25 Fax: +40 21 326 85 04
Email: ramona.dascalu@bancpost.ro

5. Casa de Economii Si Consemnatiuni S.A.


The EBRD has provided CEC SA with an EUR 10 million credit line for on
lending to SMEs under the EU/EBRD SME Finance Facility. EU-funded technical
cooperation funds will help the bank develop adequate SME lending practices.

Casa de Economii Si Consemnatiuni S.A.


13, Calea Victoriei, Sector 3, Bucharest
Contact:
Mihaela Ciubotea - Director, Product Development, Corporate Clients
Tel: + 40 21 311 11 19 Fax:+ 40 21 314 39 70
Email: mihaela.ciobotea@cec-sa.ro

Gabriela Tudor - Vice-President


Tel: +40 21 312 16 04 Fax: +40 21 310 25 60
Email: gabriela.tudor@cec.ro

6. OTP Bank Romania


The EBRD has provided OTP Bank with an EUR 10 million credit line for on
lending to SMEs under the EU/EBRD SME Facility. EU-funded technical
cooperation support will help develop appropriate SME lending practices.

OTP Bank Romania S.A.


66-68 Buzesti Street Sector 1, 011017 Bucharest

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Contact:
Aurora Tudosa –Control, Monitoring and Work-out Directorate
Tel: + 40 21 307 57 00 / 174 Fax: + 40 21 307 57 32
Email: aurora.tudosa@otpbank.ro

7. Raiffeisen Bank SA (formerly Banca Agricola)


The EBRD has provided Raiffeisen Bank Romania SA with a credit line for on
lending to SMEs as part of the EU/EBRD SME Finance Facility. Raiffeisen Bank
has also benefitted from EU-funded technical assistance to help introduce
efficient SME lending practices.

Raiffeisen SA
Piata Charles de Gaulle nr. 15 Sector 1, Bucharest 011857

Contact:
Daniela Cernat, Director, Financial Institutions, Corporate Banking Division
Tel: +40 21 303 00 22 / 302 0280
Fax: +40 21 320 9924 / 320 99 10
Email: daniela.cernat@rzb.ro Internet: www.raiffeisen.ro

Mihaela Demetriuc, Department Manager, Supranationals & Funding/ Financial


Institutions
Tel: +40 21 306 13 90 Fax: +40 21 230 07 00
Email: mihaela.demetriuc@rzb.ro

8. Romanian Bank for Development (Société Générale Group)


The EBRD has an equity participation in, and has signed a bank-to-bank loan
with, the Romanian Bank for Development Groupe Société Générale. The bank
extends finance to small and medium-sized private companies or to commercially
oriented state-owned companies implementing a privatization programme. The
maximum loan size is US$ 5 million. There is no minimum loan size.

Romanian Bank for Development


BRD Turn - Bd. Ion Mihalache nr. 1 - 7, Sector 1 Bucharest, Romania

Contact:
Ms. Carmen Florea - Deputy Manager, Large Corporates Division
Tel: +40 21301 44 19 Fax: +40 21 301 40 04
Email: carmen.florea@brd.ro Internet: http://www.brd.ro

9. Volksbank Romania
The EBRD has provided Volksbank Romania in May 2002 with a credit line for
on-lending to SMEs, which was extended to EUR 20 million in December 2004.
As part of the EU/EBRD SME Finance Facility the EBRD is also providing
technical cooperation to help develop efficient SME lending practices.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Volksbank Romania
171 Mihai Bravu St sector 2 Bucharest, Romania

Contact:
Ms Ani Cirstea, Director, Credit Management Division
Tel: +40 21 209 44 63 Fax: +40 21 209 44 94
Email: ani.cirstea@volksbank.com.ro

Micro and small business loan programme

ProCredit Bank (Formerly MIRO Bank)


The first Romanian microfinance bank, ProCredit Bank, was established to
address the financing requirements of micro and small enterprises (MSEs).
ProCredit Bank has become a leader in MSE and SME lending and is now
operating in 7 cities across Romania. ProCredit Bank provides loans to MSEs in
a fast and effective manner as well as a wide range of products, including, for
example, current and savings accounts, term deposits and national and
international money transfers, credit lines and guarantees. For more information
please see: www.procreditbank.ro

Head Office
62 – 64 Calea Buzesti, Sector 1, Bucharest
Tel: + 4021 201.6000 Fax: + 4021 201.6002
e-mail: headoffice@procreditbank.ro
Michael Kowalski - General Manager

Banca Romaneasca
EBRD extended USD 5 million loan to Banca Romaneasca on May 22nd, 2003.
The loan is co-funded by the EBRD SME Special Fund in the sum of USD 1
million. This loan has further enhanced the funding base of Banca Romaneasca
for the development of its micro and small lending program which began in the
Year 2001 under the German-Romanian Fund Program (GRF). The technical
assistance component, associated with the program, is aimed at increasing the
expertise within the micro and small lending units established at the branch level
of Banca Romaneasca. Any information in respect of the EBRD funded program
may be obtained by contacting:

Banca Romaneasca S.A., Member of the NBG Group


35, Unirii Blvd., Sector 3, 030822 Bucharest, Romania

Georgeta Serbanescu
Head of Financial Institutions Department
Phone/Fax: + 4021 321 1608 Phone: + 4021 321 1601/ext.161

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

E-mail: Georgeta.Serbanescu@brom.ro

Anca Lalu
Program ManagerSenior Banking Analyst
Phone/Fax: + 4021 321 1608 Phone: + 4021 321 1601/ext.166
E-mail: Anca.Lalu@brom.ro

Leasing

1. Alpha Leasing
Alpha Leasing was provided with a EUR 5 million credit line under the EU/EBRD
SME Finance Facility in July 2004. This credit line is accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme with the aim to increase the offer of leasing products to SMEs and to
help the company streamline its SME leasing activities . The company was
chosen to participate in the Facility owing to several factors: its commitment to
small and medium-sized enterprises which constitute the bulk of its client base,
the fact that the SME sector is at the core of its strategy and the sound financial
standing of Alpha Leasing’s parent ABR.

Alpha Leasing Romania S.A.


Calea Dorobantilor nr 237 B, Neocity Tower, Sector 1, Bucharest, Romania

Contact:
Aris Gogos, Managing Director
Tel: +40 1 209 2223 Fax: +40 212 099 999
E-mail: agogos@alphaleasing.ro

Marius Neagu, Assistant Chief Accountant


Tel: +40 21 209 222 225 Fax: +40 212 315 330 31
E-mail: mneagu@alphaleasing.ro

2. BRD Sogelease
BRD Sogelease is a member of the Société Générale Group, which is fully
owned by Banca Romana pt. Dezvoltare Group Société Générale (the second
largest commercial bank in Romania). The company offers a wide range of
leases – cars and commercial vehicles, industrial and construction equipment.
BRD Sogelease was provided with a EUR 10 million credit line in September
2003 under the EU/EBRD SME Finance Facility. This credit line was
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme to help the company focus on offering leasing
products to Romanian SMEs.

BRD Sogelease SRL


Ion Mihalache Boulevard No. 1-7, 12th floor, BRD TOUR, Bucharest, Romania

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

Tel: +40 21 301 4100 Fax: +40 21 301 4104/301 4105

Contacts:
Jean Paul Decrock, General Director
Sorin Manolescu, Commercial Director
Adriana Ahciarliu, Marketing Director
E-mail: brd.sogelease@brd.ro

3. BCR Leasing
BCR Leasing, a member of Banca Comerciala Romana Group, offers financial
and operating leases as well as other asset-based financing solutions on
commercial vehicles, real estate, industrial equipment, cars and agricultural
machinery. BCR Leasing is a leader in the leasing market in Romania. The
company was provided with a EUR 10 million credit line in September 2004
under the EU/EBRD SME Finance Facility. A second credit line of EUR 5 million
was provided in December 2005 under the same SME Facility. Both credit lines
were accompanied by a performance fee package financed by the EC

Phare Programme.
BCR Leasing S.A., Bd. Unirii nr. 73, Bloc G3 Sector 3, Bucharest, Romania

Contact:
Dr Claudiu Emanuil Stanescu, President/Director General
Tel: +40 21 323 7321/28 Fax: +40 21 322 34 63
E-mail: c.stanescu@bcr-leasing.ro

4. BT Leasing Transilvania
BT Leasing, a member of Banca Transilvania Group, offers financial and
operating leases as well as other asset-based financing solutions on commercial
vehicles, real estate, industrial equipment, cars and agricultural machinery. BT
Leasing is one of the most dynamic leasing companies in Romania. The
company was provided with a credit line of EUR 5 million under the EU/EBRD
SME Finance Facility in October 2003. This credit line was accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme, with the aim to help the company focus on offering leasing products
to SMEs. A second credit line of EUR 5 million was provided in September 2006
under the same Facility.

BT Leasing Transilvania IFN S.A.


Calea Turzii, 134 3400 Cluj-Napoca, Romania

Contact:
Mr. Titus Nicoara, Director General Executive
Tel/Fax: +40 264 43 88 16
Email: titus.nicoara@btleasing.ro

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

5. Raiffeisen Leasing S.R.L.


Raiffeisen Leasing Romania was provided with a credit line of EUR 5 million in
January 2003 under the EU/EBRD SME Finance Facility. This credit line is
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme, with the objective to help the company focus on
offering leasing products to SMEs and adapt its procedures accordingly.

Raiffeisen Leasing S.R.L.


c/o Grand Offices Marriott, Calea 13 Septembrie nr.90, 050713 Bucuresti,
Romania
Tel: +40-21-403.33.00
Internet: http://www.raiffeisen-leasing.ro

6. Volksbank Leasing Romania


Volksbank Leasing Romania was provided with a credit line of EUR 10 million in
August 2006 under the EU/EBRD SME Finance Facility. This credit line is
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme, with the view to help the company focus on
offering leasing products to Romanian SMEs and streamline its procedures
accordingly.

Volksbank Leasing Romania (VB Leasing RO) IFN S.A.Şos. Bucureşti


Ploieşti nr. 17-21, 2nd floor, 013682 Bucharest, Romania
Tel: +40 / 21 / 20444 44

Equity Funds

1. EuroMerchant Balkan Fund


The Fund supports the expansion of international industrial companies in
Bulgaria and Romania, typically in joint ventures with local partners. The Fund
does not invest less than US$ 250,000 or more than US$ 4 million. As of early
1999, the Fund had committed more than 80 per cent of its capital resources,
with the remainder reserved for follow-up on existing projects. Another fund
under the management of Global Finance (the Black Sea Fund) was established
in 1998 with US$ 62 million to continue the activity of the EuroMerchant Balkan
Fund in a wider region of countries. The desired investment range is between
US$ 2 million and US$ 9 million.

Global Finance International


Bd. Aviatorilor nr. 60-62, Apt.1, Sector 1 , 70401 Bucharest, Romania

Contact:
Mr Ladislaou Randjak, Country Manager
Tel: +40 1 231 7571/7573 Fax: +40 1 231 7571/7573

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

Email: office@globalfinance.ro

2. Romanian Post-Privatisation Fund (RPPF)


The objective of the RPPF is to invest in private companies or companies that
are to be privatised mainly through subscribing to the company's equity capital or
"quasi-capital", supporting its development process, economic expansion and
obtaining a return on investment that compensates for the risks undertaken. The
€44 million fund invests in Romanian companies with good growth and profit
potential. The investments may be to back Romanian entrepreneurs or
Romanian companies supported by strategic foreign partners contributing
technology, markets and financing, or a combination of both. The participation of
the RPPF can range between €0.3 million and €4.4 million. It is for a limited
period and normally will represent a minority position within the company.

GED Capital Development


42A Frumoasa Street Bucharest, Sector 1, Romania

Contact:
Mr Robert Luke, Managing Director
Tel: +3491 702 2255 Fax: +3491 702 1764
Email: rmluke@ged.pcnet.ro

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

Slovak Republic

1. Československá Obchodní Banka a.s. (CSOB)


The EBRD has taken an equity stake in CSOB, which is a universal bank
operating in the Czech Republic and Slovak Republic. CSOB provides banking
services in CZK, SKK and foreign currencies to corporate and retail customers,
both domestic as well as foreign. CSOB is the market leader in export financing
and in management and custody of securities. It is one of the main players in
local capital markets. CSOB complements its traditional banking services in the
areas of forfeiting, leasing and fund management through subsidiaries. Interested
parties can contact any branch of CSOB.

Československá Obchodní Banka a.s.


Michalská 48, 815 63 Bratislava, Slovak Republic
Tel: +421 7 5934 5111 Fax: +421 7 5443 0530
http://www.csob.sk

2. Ludova Banka a.s.


In January 2004, EBRD provided Ludova Banka with a credit line of EUR 10
million for on-lending to Slovak SMEs as part of the EU/EBRD SME Finance
Facility. It is also providing EU-funded technical cooperation to streamline
Ludova Banka's SME lending procedures.

Ludová Banka a.s.


Námesite SNP 15, PO Box 81, 810 00 Bratislava 1, Slovak Republic

Contact:
Slavomir Steigauf, Head of Retail Banking
Tel: +421.2.5965 1900 Fax: +421.2.5965 1572
Email: slavomir_steigauf@luba.sk

3. OTP Banka
The EBRD has provided OTP Banka with a credit line for on-lending to SMEs as
part of the EU/EBRD SME Finance Facility. The EBRD is also providing technical
cooperation, funded by EU Phare, to introduce efficient SME lending practices to
the bank.

OTP Banka Slovensko, a.s.


Štúrova 5, 813 54 Bratislava 1

Contact:
Ms Lubomíra Ebringerová
Tel: +421 2 5979 6503 Fax: +421 2 5292 2089
Email: ebringerova@otpbanka.sk

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

4. UniBanka, a.s. (formerly Polnobanka)


The EBRD made its initial equity investment in Polnobanka in 1994 and
participated pro-rata in subsequent capital increases. In April 2002 Unicredito,
the majority shareholder renamed Polnobanka to UniBanka. UniBanka is an
universal bank, providing corporate and retail clients with a complete range of
domestic and international banking services. The bank has launched in recent
years new tailor made products such as consumer and mortgage loans for retail
clients, new trade finance products for corporate clients and loans for small
businesses. The EBRD has provided UniBanka in June 2004 with a credit line
(increased in August 2005) for on lending to SMEs as part of the EU/EBRD SME
Finance Facility. Technical cooperation, funded by EU Phare, was also provided
with an objective to introduce efficient SME/micro lending practices in the bank.
The EBRD has also provided UniBanka with a credit line for on-lending to
micro/SME companies based in rural areas, as part of the Rural Window of the
EU/EBRD SME Finance Facility which aims to stimulate lending in rural areas of
EU accession countries. This is accompanied by a EU-funded technical
cooperation package.

UniBanka, a.s.
21 Vajnorska Street 83265 Bratislava Slovak Republic

Contact:
Ms Anna Pilkova, Member of the Board of Directors, Deputy of CEO
Tel: +421 2 4950 2260
Email : pilkova@unibanka.sk Internet: http://www.unibanka.sk

5. Vseobecna Uverova Banka


The EBRD has provided Vseobecna Uverova Banka with two credit lines for on
lending to SMEs under the EU/EBRD SME Finance Facility. Vseobecna Uverova
Banka also benefits from EU-funded technical co-operation support, aimed at
streamlining its SME lending activities.

Všeobecná úverová banka


Mlynske nivy 1, 829 90 Bratislava 25, Slovak Republic

Contact:
Rastislav Gajarsky, Project Finance Manager
Tel: +421 2 5055 1540 Fax: +421 2 5441 0569
Email: rgajarsky@vub.sk

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Leasing
1. CAC Leasing Slovakia a.s.
CAC Leasing, a member of HVB UniCredito Group and one of the largest leasing
companies in Slovakia, was provided with a EUR 15 million credit line in
December 2002 under the EU/EBRD SME Facility. A second credit line of EUR
10 million was provided in November 2004, and this was increased by another 10
million in August 2006. Both original credit lines were accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme with the view to help the company offer leasing products to Slovak
SMEs and adapt its leasing procedures accordingly.

CAC Leasing Slovakia a.s.


Hurbanovo Namestie 1, 81499 Bratislava, Slovak Republic

Contact:
Alexander Schmidecker, General Manager
Tel: + 421 2 5927 1300 Fax: +421 2 5927 1700
E-mail: Alexander.schmidecker@cacleasing.sk

Radka Cabova, Finance Manager


Tel: +421 2 5927 1455 Fax: +421 2 5927 1701
E-mail: Radka.Caova@cacleasing.sk

2. Tatra-Leasing
Tatra-Leasing, a member of the RZB Group, offers financial leasing on
passenger and commercial vehicles, transport equipment, industrial equipment
and machinery, agricultural machinery and office and medical equipment. A EUR
5 million credit line was provided to Tatra-Leasing in January 2003 under the
EU/EBRD SME Finance Facility. This credit line was accompanied by a
performance fee and technical cooperation package financed by the EC Phare
Programme with the objective to help Tatra-Leasing offer leasing products to
Slovak SMEs and introduce adequate leasing procedures.

Tatra-Leasing spol. s.r.o.


Továrenská 10, P.O. Box 19, 820 04, Bratislava 24, Slovak Republic

Contact:
Mr Jaroslav Vach, Chief Financial Officer
Tel: +421 2 5919 3166 Fax: +421 2 5919 3044
E-mail: jaroslav_vach@tatrabanka.sk

3. VB Leasing SK
VB Leasing SK, a member of VB Leasing International Holdings, has been
operating in the Slovak market since 1995. It is a universal leasing company
financing personal and commercial vehicles, trucks, trailers and machine

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

equipment. VB Leasing SK has 11 subsidiaries all over Slovakia. A EUR 10


million credit line was provided to VB Leasing SK in May 2004 under the
EU/EBRD SME Finance Facility with the objective to help the company offer
leasing products to Slovak SMEs.

VB Leasing SK s.r.o.
Nam 1. Maja 11, 810 00 Bratislava, Slovak Republic

Contact:
Dr Heinz Reindl, Managing Director
Tel: +421 2 599 874 11 Fax: +421 2 599 879 41
E-mail: info@vbleasing.sk

Equity Finance

1. Czech & Slovak Investment Corporation Inc.


The EBRD is a co-sponsor of the Czech & Slovak Investment Corporation. This
fund will provide equity finance to medium-sized local enterprises and joint
ventures. Investments range from US$ 2 million to US$ 7 million.

Contacts:
Mr Julian Healy, Director;
Mr Milan Hladik, Representative
Tel: +420 2 2481 2711 Fax: +420 2 2481 1487
Email: flemings@flemings.cz Web site: www.flemings.com

2. GIMV Czech and Slovak SME Fund


The EBRD is an investor in this private equity fund, which invests in SMEs in the
Czech Republic and Slovak Republic. The Fund seeks to achieve long-term
capital appreciation by taking significant stakes in portfolio companies through
negotiated transactions while taking an active role to positively influence their
financial structure, business strategy, operations and management. The
aggregate investment in any single company ranges from €300,000 to €1 million.

Contact:
Mr Paul Vanoverloop, Managing Director
Tel: +32 3 290 2121 Fax: +32 3290 2105
Email: paulvo@gimv.be Web site: www.gimv.com

GIMV Czech Partners Management Company B.V


Drentestraat 20 1083
Amsterdam, Netherlands

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

Contact:
Mr Paul Vanoverloop, Representative
Tel: +32 495 597288
Web site: www.gimv.com

3. Slovak Post-Privatisation Fund


This post-privatization fund provides new equity capital, effective governance and
management assistance to private and privatized Slovak enterprises that are
presently unable to raise private equity capital. The Fund invests in the range of
€3 million in investee companies and has technical assistance available for pre-
investment due diligence as well as post-investment support.

East Fund Management


Kartner Ring 11-13, 6.7.3 , 1010 Vienna, Austria

Contact:
Mr Roland Haas, General Manager
Tel: +43 1 516 71 101 Fax: +43 1 516 71 600
Email: haas@eastfund.com Web site: www.eastfund.com

East Fund Management


Sochova 5
81103 Bratislava, Slovak Republic
Tel: +421 7 5441 8319 Fax: +421 7 5441 8323
Web site: www.eastfund.com

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Slovenia

1. Banka Koper
The EBRD has provided Banka Koper with two credit lines for on-lending to
SMEs under the EU/EBRD SME Finance Facility. Banka Koper has also
benefited from EU-funded technical cooperation support with the objective to
help develop adequate SME lending practices.

Banka Koper
Pristaniska ulica 14, 6052 Koper, Slovenia
Internet: http://www.banka-koper.si

Contact:
Mrs Aleksandra Nemec, Head of Correspondent Banking
Tel: +386 5666 1384 Fax: +386 5666 2006
Email: aleksandra.nemec@banka-koper.si

2. Nova Kreditna Banka Maribor d.d. (NKBM)


The EBRD has provided NKBM with a credit line for on-lending to SMEs as part
of the EU/EBRD SME Finance Facility. EU-funded technical cooperation was
also being provided, with an objective to help develop efficient SME lending
practices at the bank.

Nova Kreditna Banka Maribor d.d.


ul. Vita Kraigherja 4, 2505 Maribor, Slovenia
Internet: http://www.nkbm.si

Contact:
Mr Marko Podlipnik
Tel: +386 2 229 2284 Fax: +386 2 252 7870
Email: mpodlipnik@nkbm.si

3. Nova Ljubljanska Banka d.d. (NLB)


NLB, Slovenia's largest bank, has received a subordinated loan from the EBRD
to provide long-term funding to finance its expansion. The bank is a fully licensed
universal bank combining the functions of commercial, savings and investment
banking. It provides corporate and retail clients with a complete range of
domestic and international banking services.

Nova Ljubljanska Banka d.d.


Trg Republike 2, 1520 Ljubljana, Slovenia

Contact:
Mr Miro Medvesek, Head of Investment Banking

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Tel: +386 1 25 22 788


Fax: +386 1 25 22 518
Email: miro.medvesek@n-lb.si Internet: http://www.n-lb.si

Mrs Marjana Konštantin, Head of Loan Department


Tel: +386 1 252 25 02 Fax: +386 1 252 24 61
Email: marjana.konstantin@n-lb.si

4. SKB Banka d.d


The EBRD has an equity participation and has signed a bank-to-bank loan with
SKB Banka, which considers loans to small and medium-sized projects in the
private sector. The EBRD has also financed a housing loan facility with SKB
Banka. This facility is for housing loans to SKB Banka's private customers
for the purchase or renovation of their homes in Slovenia.

SKB Banka d.d.


Ajdovscina 4, 1513 Ljubljana, Slovenia
http://www.skb.si

Contact:
Ms Lidija Tepina, Retail Banking, Assistant Executive Manager (housing loans)
Tel: +386 1 471 5929 Fax: +386 1 471 5792
Email: lidija.tepina@skb.si

Ms Bojana Novak, Loans Department


Tel: +386 1 471 5029 Fax: +386 61 302 808
Email: bojana.novak@skb.si

Mr Zdravko Kukovic, Director Corporate Clients Division


Tel: +386 1 471 5082 Fax: +386 1 471 5843
Email: zdravko.kukovic@skb.si

5. Volksbank-Ljudska Banka
Volksbank-Ljudska Banka has been active on the Slovenian market since 1993.
The bank's main shareholder is Volksbank International AG (a subsidiary of
Österreichische Volksbanken-AG). Bank offers various types of financing for
individuals and corporates such as housing, consumer loans, SME financing,
factoring and project financing. Personal contact, mutual trust and reliability are
of primary importance to the bank. The professional quality of services and long
term relationship is built with clients in order to ensure business success. Their
branch offices are in Ljubljana, Maribor, Celje, Koper, Kranj and Novo Mesto
(representative office). The EBRD has provided Volksbank-Ljudska Banka with a
credit line for on-lending to SMEs as part of the EU/EBRD SME Finance Facility.
EU-funded technical cooperation support will help develop appropriate SME
lending practices.

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Volksbank-Ljudska Banka d.d.


Dunajska ulica 128ª,1000 Ljubljana
http://www.volksbank.si

Contact:
Ms Valerija Schaubach
Tel: +386 1 530 75 34 Fax: +386 1 530 75 56
Email: valerija.schaubach@volksbank.si

Mr Mirko Pavic
Tel: +386 1 530 74 38 Fax: +386 1 530 75 56
Email: mirko.pavic@volksbank.si

Leasing
1. Bank Austria Creditanstalt Leasing d.o.o. (BACA Leasing)
Bank Austria Creditanstalt Leasing d.o.o., a subsidiary of Bank Austria
Creditanstalt Leasing, Vienna, Member of the HVB Group, offers financial and
operating leasing as well as other solutions for financing of real estate projects,
equipment, commercial and personal vehicles. A EUR 5 million credit line was
provided to BACA Leasing in October 2005 under the EU/EBRD SME Finance
Facility. This credit line is accompanied by performance fee and technical
cooperation support financed by the EC Phare Programme. This will enable the
company to focus on offering leasing products to Slovenian SMEs and adapt its
procedures accordingly.

Bank Austria Creditanstalt Leasing d.o.o.


Šmartinska 140, 1000 Ljubljana, Slovenia

Contact:
Mr. Alfred Taul, Managing Director
Tel: +386 1 520 60 00 Fax: + 386 1 520 60 35
E-mail: alfred.taul@ba-ca-leasing.si

2. Raiffeisenleasing d.o.o.
Raiffeisenleasing Slovenia, a member of the Raiffeisen Group, provides real-
estate as well as leasing products for commercial vehicles, cars and industrial
equipment. A EUR 7 million credit line was provided to the company in January
2003 under the EU/EBRD SME Finance Facility. This credit line was
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme with the view to help Raiffeisenleasing focus on
offering leasing products to Slovenian SMEs.

Raiffeisenleasing d.o.o.
Tivolska c. 30, 1000 Ljubljana, Slovenia

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Contact:
Mrs Tina Žejn, Sales Manager
Tel: + 386 1 241 250 Fax: +386 1 241 268
E-mail: tina.zejn@raiffeisen-leasing.si

Mrs Aleksandra Šavel, Sales Representative


E-mail: Aleksandra.savel@raiffeisen-leasing.si

3. SKB Leasing d.o.o.


SKB Leasing, a member of the SG group, offers various types of financing for
individuals and legal entities. Tailor-made products range from financial leasing,
business rental to sale and lease back arrangements. SKB Leasing has long-
term experience in commercial vehicles and car leasing. A EUR 10 million credit
line was provided to SKB Leasing in September 2004 under the EU/EBRD SME
Finance Facility. This was followed in December 2005 by another credit line of
EUR 7 million, this time under the Rural Window of the EU/EBRD SME Finance
Facility, which aims to stimulate lending in rural areas. Both credit lines are
accompanied by a performance fee and technical cooperation package financed
by the EC Phare Programme. This will enable the company to further focus on
offering leasing products to Slovenian SMEs and streamline its procedures
accordingly.

SKB Leasing d.o.o.


Slovenska c.54
1000 Ljubljana, Slovenia

Contact:
Mr Damjan Kozjak, Head of Marketing
Tel: +386 1 300 5000 Fax: +386 1 433 6181
E-mail: damjan.kozjak@skb-leasing.si

Equity Finance
Horizonte Fund
The Fund provides equity financing at the start-up and early growth stages of
small enterprises. It has a particular focus on high-tech ventures and those that
produce specialized products with export potential.

Horizonte Venture Management GmbH


Bauernmarkt 6 1010 , Vienna, Austria
Contact:
Dr Franz Krejs, Managing Director
Tel: +43 1 533 5601 Fax: +43 1 533 56014
Email: krejs@horizonte.at Web site: www.horizonte.at

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Regional and sectoral equity financing investments

1. Advent Central & Eastern Europe (ACEE) I & II


These funds provide finance and management assistance to companies in the
private sector. The investment range is US$ 5 million to US$ 20 million. The
funds finance projects in Croatia, the Czech Republic, Hungary, Poland,
Romania and the Slovak Republic. ACEE I is now fully-invested, investing is now
only from ACEE II.

Advent International plc


158 Buckingham Palace Road, London, SW1W 9TR, United Kingdom

Contact: Mrs Joanna James, Managing Director


Tel: +44 20 7333 5537 Fax: +44 20 7730 4119
Email: jjames@uk.adventinternational.com
Web site: www.adventinternational.com

2. AIG New Europe Fund


This fund makes direct or indirect equity and quasi-equity investments to fund
investment programmes, capital expenditure or working capital requirements of
companies operating primarily in the Czech Republic, Hungary, Poland and
Romania (the primary region) and Bulgaria, Croatia, FYR Macedonia, Moldova,
the Slovak Republic, Slovenia and Ukraine (the secondary region) to achieve
long-term capital growth. The Fund will usually hold more than 15 per cent of
shares of a portfolio company, acquiring primary issues, typically in unquoted
companies, but may acquire secondary shares, if this involves privatization or
strengthening of the Fund's position in a company. The preferred investment size
is between US$ 10 million and US$ 30 million.

AIG-CET Capital Management (Poland) Sp. z o.o.


Stratos Office Center, ul. Skorupki 5 (5th floor), PL-00-546 Warsaw, Poland

Contact:
Mr Pierre F Mellinger, Chief Executive Officer
Tel: +48 22 583 7000 Fax: +48 22 583 6969
Email: pmellinger@aig-cet.com.pl

3. Argus Capital Partners


This is a US$ 172 million private equity fund, sponsored by Prudential Insurance
of America, targeting the advanced countries of central and Eastern Europe. The
average investment size ranges from US$ 8 million to US$ 15 million with no
sector specialisation. The Fund has offices in Prague, Budapest and Warsaw

SME UNION, 22 Rue de Pascale, B-1040 Brussels

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Financing SMEs in the EU – overview

and will consider deals outside its priority target countries (Czech Republic,
Hungary, Poland and Slovenia).

Argus Capital
141 Wardour Street, London W1F 0UT, UK

Contact:
Mr Ali Artunkal, Managing Director
Tel: +44 20 7398 2001 Fax: +44 20 7398 2003
Email: ali.artunkal@arguscapitalgroup.com
Mr Pawel Scott, Investment Director
Tel: +48 22 630 3031 Fax: +48 22 630 3033

Argus Capital Partners


Skretova 12, 120 00 Prague 2, Czech Republic
Contact:
Mr George Collins, Investment Director
Tel: +42 02 2142 4214 Fax: +42 02 2142 4210

Argus Capital Partners


Istenhegyi ut 40-a, 1126 Budapest, Hungary
Contact: Mr Robert Hejja, Investment Director
Tel: + 361 391 0231 Fax: +361 391 0234

4. Baring Communications Equity Emerging Europe


This fund considers equity investments in emerging private enterprises in the
media and communications industry. It focuses its investments in companies
operating in the EBRD’s countries of operations. The fund has no specific
minimum or maximum investment size, and via co-investors, can organize
consortiums for any sized investment.

Baring Communications Equity Emerging Europe


Wellington House, 28-32 Wellington Road
London, NW8 9SP, United Kingdom

Contact:
Mr French David, Partner
Tel: +44 20 7483 9155 Fax: +44 20 7483 9156
Email: french@bcee.net Web site: www.bpep.com

Prague Office
Parizska 23, 110 00 Prague 1, Czech Republic

Contact: Mr Markus Pedriks, Partner


Tel: +420 2 2457 7694 Fax: +420 2 2481 4292
Email: pedriks@bce.cz

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Warsaw Office
EUROPLEX Building, Ul. Pulawska 17, 02-515, Warsaw, Poland

Contact: Ms Heather Potters, Partner


Tel: +48 22 627 4156 Fax: +48 22 849 2784
Email: potters@bce.pl Web site: www.bcee.net

5. Danube Fund Ltd


This fund, which is sponsored by the Alpha Group of Greece, makes direct equity
investments in private companies, or companies under going privatization. At
least two thirds of the Fund must be allocated to projects in Romania. The rest
will be considered on an ad-hoc basis for projects in Albania, Bulgaria and FYR
Macedonia. Investment size ranges from US$ 0.5 million to US$ 2 million. The
Fund will take minority, but significant positions with involvement, at a strategic
board of director’s level. The Fund is not involved in daily management.

Danube Fund Ltd 8 Merlin Street


10671 Athens, Greece
Contact:
Mr D Damianos, Managing Director & General Manager
Tel: +30 1 362 7710 Fax: +30 1 361 9532
Email: mail@alphavc.gr

Danube Fund Ltd


Street Pitar Mos 25, Apt.19, 5th Floor, Bucharest, Romania
Contacts:
Mr Serban Ionescu, Investment Officer;
Mr Alex Mnohoghitnei, Investment Officer
Tel: +401 210 8467 Fax: +401 210 8467
Email: danube@bx.logicnet.ro

6. DBG Osteuropa Holding


This fund invests capital in local companies as well as in joint ventures in the four
Visegrad countries (Czech Republic, Hungary, Poland and Slovak Republic).
Typical investments range from US$ 1 million to US$ 10 million.

DBG Eastern Europe s.r.o.


Emil-von-Behring-Str. 2,
60439 Frankfurt am Main, Germany

7. Dexia-FondElec Energy Efficiency and Emissions Reduction Fund


The EBRD, in conjunction with Dexia Project & Public Finance International Bank
and FondElec Group Inc, has originated and sponsored a closed-end equity fund
which makes private sector investments in energy efficiency and emissions-
reducing projects in the EBRD's countries of operations. The fund aims to raise

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€150 million and invest in projects such as district heating, public lighting and
industry. The EBRD and Dexia have each initially invested €20 million in the
fund.

FondElec Group Inc.


Stamford Harbor Park, 333 Ludlow Street
Stamford, Connecticut 06902, United States of America
Contact:
Mr George Sorenson, President
Tel: +1 203 326 4570 Fax: +1 203 326 4578
Email: ccasale@fondelec.com

9. Emerging Europe Capital Investors, LDC


Emerging Europe Capital Investors, LDC is an investment fund that will acquire
equity and equity-related securities of companies operating in countries that are
expected to join the EU. The Fund's objective is to achieve substantial long-term
capital appreciation through the purchase and active management of such
investments. The investment size range is typically US$ 10 million to US$ 20
million. The fund is managed by Royalton Partners, a joint venture between State
Street Corporation, a bank holding company listed on the New York Stock
Exchange, and EEAM Limited, an investment firm of the management team.

Royalton Partners co. Regus


Bank Center (Citibank Tower)
Szabadsag ter 7, 1054 Budapest, Hungary
Contact:
Mr Tamas Lederer, Regional Manager
Tel: +36 1 474 8146 Fax: +36 1 474 8181

Royalton Partners co. Regus


Ul. Prusa 2, 00-493 Warsaw, Poland
Contact:
Mr Przemyslaw Bielicki, Regional Manager
Tel: +48 22 657 0457 Fax: +48 22 657 0247

Royalton Partners
Regus Centre, Na Prikope 15, Prague 1, 110 00 Czech Republic
Contacts:
Mr Roman Babka, Director
Tel: +420 222 191 270 Fax +420 222 191 325
Emai: lroman@royalton-partners.com

10. Environmental Investment Partners


This fund invests in profit-making environmental businesses in central and
Eastern Europe. The Fund invests between US$ 0.5 million and US$ 5 million in
the equity capital of environmental companies. The fund is a passive financial

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investor and thus usually takes a share ownership of between 5 to 45 per cent of
a company.

PP Investments
Ul. Piaskowa 12c, 05510 Konstancin-Chylice, Poland
Contact:
Mr Adam Pool, Chief Investment Officer
Tel: +48 22 756 3232 Fax: +48 22 756 4919
Email: eipl@eip.com.pl Web site: www.eip.com.pl/www.ceeeif.com

11. European Renaissance Capital


This fund considers investing in emerging private enterprises, including start-up
and young growth companies, management buy-outs, and spin-offs of small
state-owned businesses. It will make initial investments in the range of US$
100,000 to US$ 500,000, and follow-on investments as appropriate with ultimate
portions being in the range of US$ 2 million to US$ 5 million. This fund can invest
in the Czech Republic, Poland and the Slovak Republic.

Renaissance Partners
Blanicka 28
12000 Prague, Czech Republic
Contact:
Mr Alois J Strnad, Managing General Partner
Tel: +420 2 2225 2407 Fax: +420 2 2225 1791
Email: alois.strnad@rp.cz Web site: www.rp.cz

Renaissance Partners
Ul. Lowicka 44
02 551 Warsaw, Poland
Contact:
Mr Jacek Stanislaw Witak, Manager
Tel: +48 22 84 80 773/84 88 777 Fax: +48 39 122 416
Mr Kornel Spiro, Managing General Partner
Tel: +48 22 848 0773 Fax: +48 39 122 416
Email: spiro@rp.pol.pl

12. Innova/98 L.P.


Innova/98 L.P. is a US$ 125 million private equity fund managed by Innova
Capital. The Fund targets emerging Europe and primarily focuses on Poland,
Romania, Hungary and the Czech Republic. The fund also pursues investment in
smaller or less developed markets in targeted sectors. The targeted investment
range is between US$ 3 million and US$ 12 million.

Innova Capital
c/o Innova Capital Sp zoo
Aurum Building, ul. Walicow 11

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00-865 Warsaw, Poland


Contacts:
Mr Robert L Conn, Managing Partner;
Mr Steven J Buckley, Managing Partner
Tel: +48 22 583 9400 Fax: +48 22 583 9420
Email: rconn@innovacap.com ; sbuckley@innovacap.com
Web site: www.innovacap.com

13. New Europe East Investment Fund (NEE)


The EBRD, together with The Capital International Group and other private
institutional investors, sponsor the NEE, which invests in securities of companies
located in central and eastern Europe. The Fund seeks to invest in new and
exisiting companies and in listed securities. NEE will take no more than 15 per
cent of the equity in any enterprise and will not invest in a single enterprise may
exceed US$ 40 million. Typical investments range from US$ 5 million to US$ 15
million. Enterprises with strong western partners and high performing local
management are preferred candidates for NEE investments.

Capital Research International


40 Grosvenor Place, London SW1X 7GG
Tel: +44 20 7864 5000 45 Fax: +44 20 7864 5773
Contact:
Mr. Koenraad Foulon, Senior Vice President,

14. Capital International Limited Technologieholding Central and Eastern


European Fund N.V.
This fund considers equity investments in small to medium-sized information and
communications technology and industrial electronic companies primarily in the
Czech Republic, Hungary and Poland, and to a lesser extent in other EBRD
countries of operations. The preferred investment size is US$ 1 million to US$ 5
million. However, smaller or larger investments are considered on a case-by-
case basis.

3TS Venture Partners AG


Andrassy ut. 11 Budapest, Hungary
Tel: +36 1 411 2310 Fax: +36 1 411 2319

3TS Venture Partners AG


Manes House 2nd Floor, Václavská 12,
120 00 Prague 2, Czech Republic

Contact:
Mr Michael White, Managing Director
Tel: +420 2 2146 0130 Fax: +420 2 2146 0137 Mobile: +49 172 8989 303
Email: mwhite@3tsvp.com

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