Erasmus for Young Entrepreneurs is a cross-border exchange programme which gives new or aspiring entrepreneurs the chance to learn from experienced entrepreneurs running small businesses in other Participating Countries.
The exchange of experience takes place during a stay with the experienced entrepreneur, which helps the new entrepreneur acquire the skills needed to run a small firm. The host benefits from fresh perspectives on his/her business and gets the opportunities to cooperate with foreign partners or learn about new markets.
Potential benefits for new entrepreneurs include the opportunity to:
– Stay up to six months with a successful and experienced entrepreneur in another European country to gain relevant business start-up knowledge in a wide range of areas such as marketing, financial accounting, customer relations, business finance;
– Improve the entrepreneurial experience and chances of success during the business start-up phase;
– Refine business ideas/plan;
– Become members of an international European business network of successful entrepreneurs;
– Gain knowledge about foreign markets and understand the regulatory framework in another European Union country;
– Collaborate and develop cross-border business co-operation;
– Gain insights into different cultural and organisational settings and understand how companies function in the European Union;
– Improve language skills;
– Find out about European commercial law and the single European market, European standardisation and European support for SMEs;
– Receive practical and financial assistance such as induction courses before the exchange, logistical and local support during the stay, and a grant covering the travel and subsistence costs during the stay abroad.
Potential benefits for host entrepreneurs include the opportunity to:
– Work with an energetic and motivated new entrepreneur who will contribute with innovative views, new skills and knowledge to the host entrepreneur’s business;
– Learn about foreign markets, expand business opportunities and engage in cross-border activities;
– Interact with businessmen and women from other European countries and become part of a dynamic European business network of successful entrepreneurs;
– Improve the growth potential of the company by establishing a business partnership with a new entrepreneur from another European country;
– Benefit from the assistance of professional intermediary organisations, which help you to search for a suitable business partner for the exchange;
– Option to use of the Erasmus for Young Entrepreneurs labels and certificate attesting your participation in the programme;
– Increase the visibility and prestige of your business (e.g. via interviews with the media);
– New entrepreneurs, firmly planning to set up their own business or have already started one within the last three years;
– Experienced entrepreneurs (host entrepreneurs) who own or manage a Small or Medium-Sized Enterprise in one of the Participating Countries.