In light of this fact, the European Union initiated the Erasmus for Young Entrepreneurs programme in 2009, which represented an innovative response to the dual challenge of stimulating entrepreneurship and encouraging cross-border trade in Europe. By means of staying with an experienced entrepreneur in another European Member State, would-be entrepreneurs gain competences and perspectives that will prove invaluable during their business start-up phase. At the same time, new entrepreneurs use their fresh entrepreneurial spirit and knowledge of their home market and culture as a source of new ideas and as a sounding board for host entrepreneurs.

The Erasmus for Young Entrepreneurs programme was developed within the framework of the Small Business Act (SBA) for Europe which considers this pilot project a key contribution “to creating an environment within which entrepreneurs and family businesses can thrive and entrepreneurship is rewarded”.