This article will be your guide to step into the Erasmus world mainly focused on broadening opportunities for those who have their own plans for business ideas!

For a long time, the word “entrepreneurship” sounded to me, at least intimidating.

Only after reading more about it, I have become aware of the true meaning of the word. According to the dictionary of Cambridge, entrepreneurship is a “skill in starting new businesses, especially when this involves seeing new opportunities”. Interesting, right?

What is Erasmus for Young Entrepreneurs?

Erasmus for Young Entrepreneurs helps provide aspiring European entrepreneurs with the skills necessary to start and/or successfully run a small business in Europe. New entrepreneurs gather and exchange knowledge and business ideas with an experienced entrepreneur, with whom they stay and collaborate for a period of 1 to 6 months.

The stay is partly financed by the European Commission.

You might feel like opening your own business is not a very appealing idea to you. It feels scary, overwhelming, and new. But actually, after giving it a second thought, what is scary about the idea of being your own boss, of doing what you always wanted to do and perhaps making a nice profit out of it?

Entrepreneurship is a skill that enables you to see new opportunities and be able to use them in the future career of starting your own, new business. Do not worry, no one is born being an entrepreneur. Even the most famous entrepreneurs such as Mark Zuckerberg, or Bill Gates have tried and failed before they achieved any success. You can learn how to be a good entrepreneur. And the best way to do it is to learn from those who are already well experienced.

Erasmus for Young Entrepreneurs is the answer and solution to the question of  “How to become an entrepreneur”? – Find the official website here.

Target group:

Everyone who is willing to try and has an idea for their own business!

The answer, according to the official EYE website is:

  • New entrepreneurs, firmly planning to set up their own business or have already started one within the last three years
  • Experienced entrepreneurs who own or manage a Small or Medium-Sized Enterprise in one of the Participating Countries

Working methods:

Compared to well know formal learning we experienced during school or University, Erasmus for Young Entrepreneurs is a practical approach to learning.

It works more as cooperation or an exchange of skills, knowledge, and ideas between the hosting enterprise and a new entrepreneur. It is partly funded by the European Commission. You’ll receive a fixed salary depending on the country where you participate in the program.

The EYE is an opportunity that enables young entrepreneurs to learn from experienced Entrepreneurs running Small or Medium Enterprises in different Programme Countries.

How to participate:

Application process:

  1. Register at the Erasmus for Young Entrepreneurs website here.
  2. Find your local point of contact – an organization that will send you abroad and will help you with the paperwork.
  3. Write your business plan. – How to do it? If you have an idea, you will not have to think much about it. The ideas should just come to your head. However, if this is not your case, there are many business plans templates, all over the internet that can serve you as an inspiration. And it is not as difficult as it seems!
  4. Once your business plan is ready, you need to fill out answers to questions at the Erasmus for Young Entrepreneurs website. There about 6 questions about your motivations, skills, education, experience, etc. It is important to put some effort into the application because it is available to see for future hosting enterprises. The first good impression of a competent and engaged candidate is very important.
  5.  Update your CV! This is quite an important part as well. Make sure it goes in line with what you’re about to be doing in your business.
  6. Once everything is approved and your documents are submitted you’ll be put into the big database. You will find there the small and medium enterprises that participate in the program, too. And this is where the hard work actually begins. There are many organizations that you will contact personally sending them your motivations, your CV, and asking if you could talk more about your potential collaboration.
  7.  After the approval, there are a couple more papers to fill out, such as your Commitment Document. Everything from now on is relatively easy.
  8. Prepare for your trip and learning experience!