What is the EU definition of micro, small or medium-sized enterprise (SME)?
The European Commission Communication defines SMEs as follow: “An enterprise is any entity engaged in an economic activity, irrespective of its legal form”. “Enterprises qualify as micro, small and medium-sized enterprises (SMEs) if they fulfil the criteria laid down in the Recommendation which are summarized in the table below. In addition to the staff headcount ceiling, an enterprise qualifies as an SME if it meets either the turnover ceiling or the balance sheet ceiling, but not necessarily both.
| Enterprise Category | Head Count | Turnover | Or Balance Sheet Total |
| Medium Size | <250 | ≤ € 50 Mln | ≤ € 43 Mln |
| Small | <50 | ≤ € 10 Mln | ≤ € 10 Mln |
| Micro | <10 | ≤ € 2 Mln | ≤ € 2 Mln |
Is there any funding available?
The European Union foresees financial assistance for new entrepreneurs, which contributes to travel costs to and from the country of the stay and covers subsistence costs during the visit. This financial assistance is paid by the new entrepreneur’s intermediary organisation and its amount is subject to an agreement between both counterparts.
The funding is based on payment of monthly lump sums to the entrepreneurs and the monthly maximum amount paid per country of exchange is available here
I have already participated to the Erasmus Mundus or Leonaro / Erasmus+ or other projects funded by the European Union, can I take part in the Erasmus for Young Entrepreneurs Programme?
The objectives of the programmes differ from one programme to another. A former Erasmus student may participate in Erasmus for Young Entrepreneurs providing his exchange with the Erasmus for Students programme has ended.
Is there a minimum requirement in terms of age to participate in the programme?
No, there are no age specifications to participate in the programme. However, other eligibility requirements for new and host entrepreneurs – for example, educational background, business experience, firm business start-up plan- make it very difficult for individuals below the age of 18 to participate in the programme