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Sunsidies up to ?350 000 for small and average owners

06 March 2009 / 20:03:07  GRReporter
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Aiming to financially help the small firms, which have up to 50 employers, the Ministry of Economy and Finances is starting a new program.

The procedures for applying the program and starting the financing are moving in full speed. The ministry’s task is for the businessmen to start proposing their ready offers during the first week of May.

The whole amount, which the ministry will give for the subsidies for small firms, will be ?1.3 million. The basic criteria, which the firms must have, are:

-      They can be firms, which are developing their activity in one of the following sectors of the economy sphere – processing raw materials, trading, tourism, services.

-      They can be firms with up to 50 employees.

-      The aim of the program is to create new job openings and the old ones to be kept.

-      Each project can be financed with maximum of ?350 000.

-      The financing percentage will be up to 60% from the investment budget.


The Minister of Economy and Finances Yannis Papatanasiou said: “We are continuing to work on realizing all programs connected with business, which are part of the National Strategy frame 2007-2013 and we are doing everything possible to quicken the procedures. We paying special attention to implementing projects of small and average businesses – this is our priority. In this crisis moment we are aiming to support small firms in a way that they can continue to employ and pay their workers.”

Two new basic programs for developing business initiatives have started – financing firms with either young or female owners. Firms working in processing materials or in the field of recycling and keeping the environment clean will receive up to ?200 000. Tourist firms can apply for amount up to ?100 000 and trading associations - up to ?80 000.

The ones interested will be able to send their projects in the following two months, said Development Minister Kostas Hadzidakis. He added that the offers, which will be approved are the projects between ?30 000 and ?200 000. The minister also said that another competition will be announced for projects about modernizing processing companies until the end of March.

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