Accounting, Payroll, Tax & Legal since 1989

grants to support business 

Micro and small enterprises will be able to apply for grants support  

The Managing Authority of the Operational Program "Innovation and Competitiveness" 2014-2020 plans to announce on May 11, 2020 a selection procedure for projects "Support to micro and small enterprises to overcome the economic consequences of the COVID-19 pandemic “.

The total amount of the grant is BGN 173 million and covers all sectors of the Bulgarian economy (except for those supported by the Rural Development Program). The enterprises that have registered a decrease of at least 20% in their turnover for April 2020 compared to the average monthly turnover for 2019, will have the opportunity to receive amounts from BGN 3,000 to 10,000. With them they will be able to cover their most urgent needs, such as rent, consumables, raw materials, salary costs and other working capital costs.

Eligible applicants are micro and small enterprises fulfilling the following conditions:

  • legal entities or sole traders registered under the Commercial Act or the Cooperatives Act with staff of up to 50 employees;
  • registered before 01.07.2019 and engaged in economic activity;
  • registered a decrease of at least 20% in the turnover for April 2020 compared to the arithmetic average monthly turnover in 2019 and;
  • carry out activities in all economic sectors, except those falling within the scope of the Rural Development Program.

Minimum and maximum value of the awarded grant per project:

  • minimum value: BGN 3,000;
  • maximum value: BGN 10,000

The requested grant from the applicant should not exceed 10% of the turnover for 2019.

Term of project implementation: 3 months

Requirements to the candidates:

  • Submitted Annual Tax Return to the NRA and submitted Statistical reports for 2019;
  • Candidates’ turnover for 2019 should be minimum BGN 30,000.

Eligible expenses:

Expenses needed to overcome a shortage of funds or lack of liquidity as a result of the COVID-19 pandemic: for raw materials and consumables; for external services (including overheads); for staff (incl. expenses for remunerations and expenses for social security and health contributions at the expense of the employer, with the exception of expenses for staff assisted under measure 60/40).

Application procedure:

Completely electronically by filling in a web-based application form through the Information System for Management and Monitoring of the EU Structural Instruments in Bulgaria: procedure No:  BG16RFOP002-2.073 see here (it will be published on 11.05.2020 in the section open procedures). For this purpose, it will be necessary to use a valid Qualified Electronic Signature (QES) of the representative or a person authorized by him with an explicit power of attorney.

Deadline for application

30 days from the date of announcing the procedure.


This material and information are for general information purposes only. Making any business, legal or other decisions needs additional professional advice. If you have any additional questions, please contact us.



07.05.20


Latest articles

26

Mar

Hoping for the best, preparing for the worst...

22

Jun

Amendment of reduced 9% VAT rate was published...

16

May

9% VAT for tourism, accommodation services, restaurants and...

Contact

Email again:
Services