Abstract
In the 2014–2020 programming period, the cohesion policy focuses more on results and evaluation of programs based on facts. Due to the Commission policies, an expansion of cohesion policy counterfactual impact evaluation of programmes with new approaches can be expected in the future. In this paper, the focus is on the calculation of the impact of received European cohesion funds on the revenue of companies in Slovenian municipalities one/two years after the receipt of cohesion funds for the 2007–2013 period. Two development priorities that affect company revenue – Enterprise competitiveness and research excellence and Promoting entrepreneurship and adaptability are considered. The effect of the use of the European cohesion funds on company revenue in Slovenian municipalities is positive for 2009 and 2010 and negative for all other years examined. The results of the research can serve to policy-makers to reduce the economic, social and territorial disparities in less developed European countries and regions therefore reaching balanced regional development.