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Funding from EU Structural Funds Towards SMEs: Findings and Suggestions on Increasing SMEs Financial Capacity

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Economic Growth in the European Union

Part of the book series: Contributions to Economics ((CE))

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Abstract

The paper focuses on the financial support provided, in terms of both funding schemes as well as actual funds, by the Structural Funds to Small- and Medium-Sized Enterprises (SMEs), within the Cohesion Policy Framework. For this purpose, a special report of the European Court of Auditors is employed, focusing on the EU financial instruments for SMEs which were co-financed by the European Regional Development Fund (ERDF). The findings of the report are being examined not only as evaluation results for the past but also as crucial elements to be taken into account for the preparation of the corresponding actions of Cohesion Policy within the 2014–2020 programming period.

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Notes

  1. 1.

    EVA measures the wealth a firm creates in a given period of time, as it registers the firm’s net operating profit after tax—NOPAT—minus the cost of the capital used to produce that profit, i.e. the cost of capital rate multiplied by the invested capital (IC). Based on this EVA calculation, a firm creates wealth (value) if the NOPAT generated is in excess of the cost of the invested capital (for more details see Bahri et al. 2011).

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Acknowledgement

This text is based on the presentation made by the author during the 2016 International Conference on International Business/Panel of the Jean Monnet Center of Excellence on EU Growth: EU Industrial Policy and SMEs, in Thessaloniki, 20 May 2016.

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Correspondence to Dimitrios Skiadas .

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Skiadas, D. (2020). Funding from EU Structural Funds Towards SMEs: Findings and Suggestions on Increasing SMEs Financial Capacity. In: Nikas, C. (eds) Economic Growth in the European Union. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-48210-7_7

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