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ESPA: Opportunity to Establish Your Company with up to 80% Subsidy

Applications for funding are currently being submitted under the new action “Support for the Establishment and Operation of New Small and Medium-sized Enterprises” within the “Competitiveness” program (ESPA 2021-2027).

The subsidy for both actions amounts to 45%, but with the contribution of EPIDOSIS in the sectors of trade, services, and processing, we can secure funding of up to 80%. For the comprehensive nature of the investmentwe can provide you with:

  • 45% ESPA subsidy
  • 35% loan financing with interest subsidized by the Recovery Fund
  • 20% coverage of own participation

Potential Beneficiaries of the action are newly established and newly formed Very Small, Small, and Medium-sized Enterprises, operating in specific NACE codes (not eligible are NACE codes related to retail trade, catering, and tourism).

Supported Budget: from €30,000 to €400,000 with an implementation duration of up to 24 months.

Support Intensity: 50% with the declaration at the submission of the funding application achieving an employment target of at least 0.2 FTE, in the first year after the completion of the investment. The support percentage can be increased by 10% if the investment is made in a remote, seismic, fire-affected, flood-prone area, or small islands.

Key Points

  • Submit only one funding application per VAT number in this Action.
  • Achieve a minimum score of 70 in the self-assessment of the investment plan based on the criteria of the Call.
  • Participation of Natural/Legal Persons as partners/shareholders in more than one submitted funding application is not allowed.
  • Declare exclusively one or more regions of the country as the place/places for implementing the actions of this initiative in a Region of the Country and in areas where the same support intensity applies.
  • Must have an approved building permit in force, or an application for issuance, or pre-approval of a building permit, or a certification of building terms, or at least a submitted application for pre-approval of a building permit or certification of building terms, if the issuance of a building permit is required, on the date of submission of the funding application.
  • To submit a Certificate of Land Use for the above-mentioned implementation site of the investment.
  • To provide evidence of usage rights held on the property for a period of at least six (6) years from the date of the announcement of the action. Specifically for building construction, the lease must be at least twelve (12) years from the date of the announcement of the action.
  • To submit supporting documents for securing the Private Contribution of the proposed investment plan in a percentage of at least 60% of it.
  • To meet, at the time of the decision to include, the conditions of application of Regulation (EU) 1407/2013 (De Minimis) on which the Action is based.
  • To operate or commit to operate legally by obtaining/possessing the appropriate licensing document in the NACE(s) of the investment, in accordance with the existing legislation and their business activity.
  • To ensure the minimization of obstacles to the access of Persons with Disabilities (PWDs) to the new facilities by implementing the necessary accessibility infrastructure (building, electronic) until the completion of the investment.
  • Prohibition of co-location of businesses, so that the equipment of the supported investment cannot be used by another business.
  • Substantial change of the physical object of the project and the related NACE of the investment during implementation is not permitted until the completion of the physical and economic object.
  • Change in the shareholding/corporate composition of the investment plan during implementation is not permitted until the completion of the physical and economic object and the repayment of the investment.
  • Change of the investment outside the approved Region is not allowed.
  • Engagement in non-eligible NACE codes is not allowed until the repayment of the investment.

You can send us a message on the Contact Form or you can call at our offices in Athens 2106810690 or in Thessaloniki 2310477725 to analyze the above.

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