Early Warning Europe 2.07

The overall objective of Early Warning Europe is to promote entrepreneurship and growth of SMEs across Europe. A key element is to create strong framework conditions for entrepreneurs and businesses across sectors that can help them face key challenges, including managing a crisis, dealing with bankruptcy and getting a second chance.

The project Early Warning Europe is providing advice and support to companies in distress. Such interventions can help prevent bankruptcies and its negative consequences such as job losses, increased economic risk for suppliers in the company value chain, and a potential economic, social and personal deroute for the company owners and their families.

An early intervention will increase the likelihood of a turnaround of the company resulting in a stable economic situation for the company and even sustainable growth. Moreover, if a company in distress is closed down at an early stage of the crisis, the intervention can help avoid an unsurmountable debt for the company owner thus giving him or her the chance to start a new venture (2nd Chance).