New Business Subsidy
Support for the Establishment and Operation of New Small and Medium-sized Enterprises for 2023 from the NSRF
In October 2023, the pre-publication was made for the action concerning the strengthening of entrepreneurship through the creation of new very small, small and medium-sized enterprises, in selected regional economic zones of all sectors of the economy, except catering, retail trade and tourism.
The budget will be €190,000,000 and will be financed by the European Regional Development Fund (ERDF) and the Greek State.
Which Businesses will it affect?
- Medium, small and micro enterprises
- Newly Established Businesses
Businesses that have not completed 12 months of continuous operation from the date of their start-up until the date of announcement of the action can participate in the action.
- Business Activity
The KAD will be announced in the announcement, but businesses in the catering, retail and tourism sectors are not included.
Of course, for businesses active in tourism, an action has been pre-published, read here: Establishment of new tourism SMEs with NSRF funding
Investment Plans
The subsidized budget of each investment project ranges from €40,000 to €400,000.
Subsidy Rates
The grant will amount to 45% of the submitted costs. The aid rate may be increased
- by 10% if the investment is made in a remote or fire-stricken or flood-stricken area or small islands and
- an additional 5% upon achieving the goal of employing at least 1 EMU, in the first year after the completion of the investment.
Duration of Implementation of the Investment Plan
24 months
Read here what an Investment Plan means
Conditions for Participation in the Grant
- Making an investment exclusively in one Region.
- Activation of the business exclusively in eligible KAD(s), as they will be defined in the Detailed Invitation that is expected to be issued throughout the implementation of their investment plan. Newly established companies should only start in eligible KAD(s) of the Action.
- Submission of accurate information and location data of the location of the investment on a specific property (field, building or other type of independent space).
- Approved building permit or at least a submitted application for its issuance in cases of construction and completion of buildings from the start date of electronic submission that will be specified in the notice
- Submission of information on the rights of use (ownership, usufruct, lease) they hold over the property.
- Submission of a Land Use Certificate for the above location of the investment.
- Submission of evidence of securing Private Participation at a percentage that will be specified in the Detailed Invitation.
- Fulfillment of the conditions for the implementation of EU Regulation 1407/2013 (De Minimis) on which the Action is based.
Expense Financing
The eligible categories of expenses, as well as their maximum ceiling, will be defined in the Detailed Call for Proposals for the Action.
- Buildings, Facilities and Environment Space
- Machinery – Equipment
- Digital Equipment and Software
- Other Equipment
- First-time operation aid (SME start-up aid)
- Promotion and Outreach Expenses
- Technical Studies
- Consulting Services
- Means of Transport
- Indirect costs (up to 7% of the eligible direct costs of the investment project)
The starting date of the eligibility of expenses is the date of announcement of the Action.
Submission and Evaluation of Funding Applications
Funding applications will be submitted only electronically without the submission of a physical file of supporting documents through the Integrated State Aid Management Information System (IPSKE).
The deadline and method of submission, the required supporting documents, the obligations of the beneficiaries as well as the other implementation conditions will be described in the Detailed Call for Proposals.