All countries around the Baltic Sea region face a great shortage of entrepreneurs and managers for small and medium-sized enterprises (SMEs). This substantially limits economic growth and innovation capacity. Due to demographic reasons population and thus working age population is expected to decline in almost all European countries in the near future, so that this shortage will even increase and have a strong impact on the SMEs, that must compete with major industries for the few well-qualified talents. To tackle this pressing issue, experts from Denmark, Germany, Latvia, Lithuania and Norway teamed up in an EU-funded project to develop a common vocational training titled 'Master Craftsman' that reflects the needs for SMEs, in particular from the craft sector. This publication contains all relevant information, from the concept and background to the actual curricula and example for examination regulations.