€3.75 million to support Ukrainian SMEs affected by war: 'Business Bridge' project open

The European Commission’s Business Bridge project, which will provide financial support to Ukrainian small and medium-sized enterprises (SMEs) affected by war, is open for applications.

The project, launched under the ReadyForEU initiative on 11 March, will provide €3.75 million in assistance to selected Ukrainian businesses, who can apply for financial assistance, supporting their path to the single market. A second call under ReadyForEU, namely Erasmus for Young Entrepreneurs - Ukraine, that allows new Ukrainian entrepreneurs to gain business skills and experience abroad is ongoing.

The Commission selected Enterprise Europe Network partner Bayern Innovativ, in collaboration with a consortium of other business support organisations, to implement the project and select up to 1 500 Ukrainian SMEs beneficiaries. Each will receive financial assistance of €2 500 covering business services, such as market research, legal, organisational, or financial advice, participation in EU trade fairs, or legal guidance on intellectual property rights. Beyond empowering Ukrainian SMEs, the Business Bridge project seeks to provide new business partnerships for EU companies.

This initiative, funded under the Single Market Programme, stems from the agreement for Ukraine to join the programme, signed by President Ursula von der Leyen and Ukrainian Prime Minister Denys Shmyhal on 2 February 2023. It complements another EU-funded programme, EU4Business, which also supports Ukrainian enterprises.

As Business Bridge paves the way for Ukrainian SMEs to access the EU single market, its launch aligns with 2 historic decisions taken by the European Council: to open accession negotiations with Ukraine on 14 December 2023, and the political agreement of 1 February 2024 to provide Ukraine with financial support through the €50 billion Ukraine Facility.

More information

• Detailed information and application procedures