Ministry approves funding for 1,170 new businesses

Ministry approves funding for 1,170 new businesses

The Economy and Development Ministry on Friday approved the investment plans of 1,170 new businesses out of 5,626 that had applied to be included in the “New Enterpreneurship” program funded by the National Strategic Reference Framework 2014-2020.

The program aims to support the creation of small and very small businesses by unemployed people or independent professionals. The budget approved for the business plans is around 66.6 million euros, with each enterprise receiving 15,000 to 60,000 euros.

The funding will cover 100 percent of eligible costs such as rent of office space, utility bills, third-party fees for legal support, as well as networking costs and participation at trade fairs, for up to 24 months from the day the business plan is included in the program.

The new businesses that will join the program will be active in eight key sectors: agri-food, energy, cultural or creative industries, supply chain, information and communication technologies (ICT), health-medicines and building materials.

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