New NSRF action to support new small and medium-sized enterprises 45-60%

The Ministry of National Economy and Finance announced the announcement of the Action "Supporting the Establishment and Operation of New Small and Medium-sized Enterprises" , which concerns the support of investment plans for start-ups and newly established SMEs (except for retail, catering and tourism enterprises), which will invest their own resources in the activity they intend to carry out and will create new jobs.

The Action's budget amounts to €190,000,000.

The Action is co-financed by the European Regional Development Fund (ERDF) of the European Union and by National Participation.

The minimum and maximum subsidized budget of investment projects is from €30,000 to €400,000.

The percentage of support for funding applications is uniform for all eligible costs of investment projects and amounts to 45% of the subsidized budget.

The subsidy percentage may be increased by:

• 10% if the investment is made in a remote or fire-stricken or flood-stricken area or small islands

• an additional 5% with the declaration when submitting the funding application of an employment target of at least 1 EMU, in the first year after the completion of the investment.

Beneficiaries of the Action are newly established and newly established Micro, Small and Medium Enterprises, which will operate or are operating in the eligible KADs of the Call (Annex II ELIGIBLE ACTIVITIES (KAD)).

Electronic submission start date: Monday 18/12/2023 at 15:00

Electronic submission deadline: Thursday 29/02/2024 at 15:00

Comparative evaluation will be applied to evaluate funding applications.