On 1st June 2023, the Measures and Support Division launched 4 new Grant Schemes falling under the European Regional Development Fund (ERDF) 2021-2027 program.
- Business report for SMEs
- SME Enhance (GBER)
- SME Enhance (de minimis)
- Start-up Enhance (GBER)
The schemes will be managed through a public open rolling-call with periodical cut-off dates for interested eligible Undertakings to submit their applications. These shall remain operational until 31st December 2023, subject to funds availability.
These schemes are available for micro, small and medium-sized enterprises (SMEs) engaged in an economic activity, irrespective of their legal form, subject to exclusions. However, it is important to note that the Start-Up Enhance Scheme specifically caters to micro and small enterprises.
BUSINESS REPORTS FOR SMEs
This scheme presents a valuable opportunity for businesses to obtain the expertise of external consultancy service providers. By availing of this opportunity, businesses can access support in making informed decisions that shape their future. Whether it entails conducting a Process and Systems Review or developing a comprehensive Business Plan , this scheme empowers businesses in their strategic decision-making process.
The grant available under this scheme is set at a lump sum of €4000, representing an aid intensity of 80% of eligible costs.
This scheme falls under the de minimis aid rules, allowing undertakings an overall capping of €200,000 (or €100,000 for single undertakings in road freight transport) over a three-year rolling period.
SME ENHANCE SCHEMES
The Enhance Schemes offer SMEs a gateway to unlock new investment opportunities, foster innovation, drive expansion and diversify their operations, ultimately stimulating economic growth. These schemes come in two variations: one operating under the General Block Exemption Regulation (“GBER”) and the other under the De Minimis state aid regulations.
Under the GBER scheme, SMEs have the opportunity to secure grants ranging from €10,000 to €500,000. The co-financing rate varies between 10% and 35%, depending on the size of the business and the project’s location.
On the other hand, the De minimis scheme offers grants ranging from €10,000 to €120,000. The co-financing rate is 50% for investments in Malta and 60% for investments in Gozo.
Eligible costs under the Enhance Schemes include:
- Equipment, Plant, and Machinery: this is deemed to be the main project;
- Ancillary Items: costs for the purchasing of ancillary items related to the main project, capped at 10% of the cost of the main project;
- Lease of Premises: leasing costs of privately owned operational premises required for the operations for a period of 2 years, limited to 10% of the cost of the main project; and
- Indirect Costs: undertakings can benefit from a 7% flat rate to cover indirect costs associated with the project.
START-UP ENHANCE:
The Scheme is specifically tailored to cater for the needs of micro and small-sized Start-up enterprises, providing essential financial support for their investments. Start-ups, defined as companies within their first five years of registration, often encounter significant challenges in securing financing for valuable investments to effectively capitalise on their ideas and sustain their early-stage survival.
By accessing grants through this scheme, start-ups can propel their growth trajectory, foster innovation, and establish a strong foundation for long-term success. The Start-Up Enhance Scheme covers the same investment costs as the SME Enhance Schemes.
Under this scheme, businesses can benefit from grants ranging from €10,000 to €400,000. The co-financing rate is 50% for investments in Malta and 60% for investments in Gozo.
Our expert team is here to guide you every step of the way, from assessing your eligibility for funding to providing comprehensive assistance throughout the application process. We will support you until the reimbursement phase, so you can focus on achieving your business goals with peace of mind.
On Monday 12th June, we will be hosting an informative webinar to provide you with the information. Click here for more details and to register.