Entrepreneurship can be described as a business activity that seeks to create something new, creates new opportunities and achieves different effects. A major obstacle to starting entrepreneurship in Croatia is the lack of financial resources. If they are not able to finance their business venture, entrepreneurs are addressing different institutions for assistance in financing: banks, the Croatian Employment Service, EU funds. During the last decades EU has shifted political focus to innovation, the knowledge economy and sustainable competitiveness. After Croatian access to the EU, the goverment is trying to follow that suit. Through a variety of financial aid funds are allocated by already harmonized criteria of the European Commission. The centers of competence that are links between businesses and educational institutions can greatly contribute to the development of the economy and increase the competitiveness of both entrepreneurs and new young students who had completed their studies. In this way, highly educated personnel will stay in Croatia, and try to create a competitive product and service. Therefore, the basic objective of the work is to provide a basic framework and opportunities for financing entrepreneurial activity in the European Union, with particular reference sources of funding from EU funds available to entrepreneurs in Croatia. Analysis and review of available resources from European the funds will include significant amounts of funding intended to encourage entrepreneurship, job creation, business competitiveness development and economic growth.