The centre constitutes an attempt at collaboration between the business sector, the academic community and the public sector in finding ways to cope with the effects of recession. ΚΕΑ said it aspires to deal with critical issues, such as galloping unemployment, the dramatic decline in companies’ liquidity and profitability, and uncontrollable shrinkage in fundamental sectors of the Cyprus business world. The problems will be tackled through practical support from European and national sponsorship programmes, the utilisation of structural funds, via public support mechanisms and direct financing by the European Support Fund (ESF).

In the initial stages, ΚΕΑ said it would focus on reinforcement of entrepreneurial action through new sources of funding and simplifying the process of establishing a company (one-stop shop), as well as enhancing competitiveness and the employment rate. It will also reinforce youth entrepreneurship for individuals 21-35 years old, who aspire to create and develop their own company and help women step-up their business know-how. KEA’s ‘VIP Club Business Success’ programme is designed as an alternative form of modern business networking, which offers opportunities for profitable collaboration. There will also be ‘smart’ training under the ‘Aristaeus Plan’, focusing on long-term professional integration, mainly for young people, women and recent graduates.

Source: Cyprus Mail