Erasmus for young entrepreneurs
Last updated on Wednesday, 21/10/2020
If you are set on starting your own business or already have one, Erasmus for Young Entrepreneurs gives you the chance to work with an experienced entrepreneur in another EU country.
As an EU citizen, you are entitled to set up your own business in any EU country or to set up a subsidiary branch of an existing EU-based business in another Member State of the EU. The requirements are different for each country, so it's important to read up on the procedures you will need to go through.
Via the ‘Your Europe’ start-ups portal, you can check the more detailed requirements for each country, i.e. the laws you have to take into account and administrative procedures you have to go through. Also, the ‘Your Europe’ business portal has information on matters such as VAT and customs, selling abroad, product requirements and environmental labels.
If you want to run your business across more than one EU country, you could consider setting up a European company. This allows you to transfer your registered office to another EU country without having to wind up the company first, and to involve staff employed in more than one country.
Entrepreneurship is about turning your ideas into action
This takes hard work and an appetite for calculated risks. The key is to innovate – develop new products or services that no one's ever done before, or in places where they weren't available.
Capture any idea that occurs to you, no matter how whacky it might seem. Then you can refine your thinking, brainstorm with others, and start to develop a business plan – a structured document that outlines your goals and how you want to achieve them.
And of course you don’t have to do it alone – you can start a business with friends, colleagues or family members. It may well make sense to team up with people who have different business skills and experience to you.
Want to see for yourself what it's like to be an entrepreneur in another EU country? Via Erasmus for Young Entrepreneurs, you can get tips and tricks from an experienced entrepreneur for six months and watch your business flourish.
At the same time, you will be bringing a fresh perspective to your host entrepreneur.
Who can apply?
The scheme is open to aspiring or new entrepreneurs. You should either:
- have firm plans to start a business, based on a viable business plan or
- have started your own business within the last 3 years
The programme has no age limit and your company or activity can be in any sector.
Candidates from any EU country are free to apply. If you are from a country outside the EU you can also apply, as long as you are a permanent resident and intend to start your business in an EU country.
How to apply?
Fill in the online registration form and choose the local contact point closest to where you live. They will guide you through the process. If there is no suitable contact point in your country, you can contact one of the 100 local points located in other countries.
The Erasmus for Young Entrepreneurs programme is an enriching experience and absolutely concrete, which I highly recommend to anyone who seriously wants to launch a business. My exchange was extremely useful to understand the environment, rules and procedure for starting my business, an essential occasion for structuring a useful network.
Maurizio Alì, from Italy, spent 6 months at the Association Yepe in France.
The Erasmus for Young Entrepreneurs programme provides you with financial assistance to contribute towards travel costs to and from the country of stay and living costs (particularly for accommodation). However, you should be able and willing to raise additional funds to cover the costs of your stay that exceed the grant.