Montenegro is the first candidate country to join the EU's Competitiveness of Enterprises and Small and Medium-Sized Enterprises Programme (COSME), under which the European Commission promotes entrepreneurship and entrepreneurial culture, improves access to finance for SMEs and access to markets, boosts the competitiveness of Enterprises, and in particular small and medium-sized enterprises (SMEs). Today, European Commission Vice President Antonio Tajani and Mr Vladimir Kavarić, Minister of Economy of Montenegro, signed an Agreement formalising the entry of Montenegro in the Competitiveness of Enterprises and Small and Medium-sized Enterprises Programme.
The continuation of Montenegro's participation in the Enterprise Europe Network (financed under COSME)with the 28 EU Member States is positive for Montenegro as it allows the country to continue to take full benefit of best practices on entrepreneurship, SME policy, competitiveness and innovation in the EU.
The backbone of the Montenegrin economy is formed by the large and expanding sector of small companies. The groundwork on developing a favourable regulatory framework for SME’s has been almost been completed through Montenegro’s participation in the European Small Business Act, which led to the opening of Chapter 20 Enterprises and Industrial policy in the accession process in December 2013.