The third grant scheme targeting Small and Medium-sized Enterprises (SMEs) is looking to invest in the growth of their business. With a total budget of € 8 million, the scheme aims to support growth strategies by part-financing investment projects related either to the expansion of an existing establishment or the setting up of a new one. The maximum for any one grant is € 500,000.
By providing non-repayable grants, this initiative seeks to overcome financial difficulties SMEs encounter when it comes to generating the necessary funds to take up investment projects.
Eligible costs include:
- Lease of private operational premises
- Construction or upgrades on private operational premises
- Purchasing of new equipment, machinery and plant
- Patents and license
As of 1 January 2018, the financing aid intensity, which depends on the size of the enterprise, is as follows:
- Micro and Small enterprises: 30% of the total project cost
- Medium-sized enterprises: 20% of the total project cost
The SME Growth Grant Scheme is now administered through an open rolling call system. Meaning, applications can be submitted on any day until the Scheme remains open for applications.
At Firstbridge, we have assisted and worked with various clients who obtained the grant successfully. Contact our team of experts to learn how you may also benefit from this Scheme.