EU grants for SMEs
In an increasingly globalised and technology driven economy, the European Union recognises the need to continually invest in its own economy through the creation of a business friendly environment, promotion of entrepreneurship, and improving access to new markets, to name but a few. In fact, the EU recognises the important role of small and medium-sized enterprises (SMEs) play within our economy, making up 99% of all businesses in the EU, and as a result seeks to assist SMEs in different phases of their business cycle.
The Business Enhance ERDF Grant Schemes are de-centralised funding schemes offering a variety of funding opportunities for eligible SMEs in Malta and Gozo. Whether newly established or in difficulty of accessing primary financial investment, SMEs may opt for the Start-up Investment Grant Scheme, benefiting from a grant of a maximum of €300,000. The programme also supports SMEs seeking to expand their current operations, diversify into new markets, or undertake extensive RD&I projects.
Lastly, the Business Enhance Schemes also support SMEs in their smaller ventures. SMEs can apply for grants to participate in International Business Promotion Fairs abroad, procure professional services to develop an e-Commerce app or website, or even to procure the services of a professional consultancy provider.
Such schemes offer a truly unique opportunity for businesses in Malta and Gozo, since contrary to other financing options available to SMEs, such as loans, grants are non-repayable and represent a direct investment by the EU.