News
Start-up subsidies for new enterprises in Estonia to be increased to 100 thsd kroons
06.08.2009
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The Baltic Course: The minister of economic affairs and communications of Estonia Juhan Parts signed the regulation that will increase the amount paid as subsidies for start-up and growing enterprises, expending the range of activities to be supported and expenses eligible for aid and will decrease the amount of own financing required, writes Postimees Online/LETA.
The maximum amount of start-up subsidies will grow from 50,000 kroons to 100,000 kroons and the rate of required own financing will fall from 25% to 20%. The maximum amount of expansion subsidies will be 500,000 kroons instead of 200,000 kroons and the own financing rate fall to 35% from 50%. For the first time, enterprises registered in Tallinn can also apply for start-up and development subsidies. |
The change in the regulation was caused by the changed economic environment where measures that have been developed earlier for supporting business needed to be simplified and supplemented to improve the access of entrepreneurs to additional capital. The budget planned for the measure during the budgetary perspective of 2007-2013 is 117.6 million kroons. The changes will make it easier to faster direct EU structural funds' resources to the business sector. |
