Ministry of Economic Development allocates funds for SOUTH

By June 5, 2013 June 18th, 2019 Partners
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In a decree dated March 6, 2013, the Ministry of Economic Development allocated a fund of 100 million euros to facilitate and support the establishment of new businesses in the South. Regions covered by the decree are: Basilicata, Calabria, Campania, Puglia, Sicily and Sardinia.

To access the fund here are the requirements:
- Established not more than 6 months after the submission of the application;
- less than 50 employees and an annual turnover of less than 7 million euros;
- Incorporated as companies, including cooperative companies whose members are exclusively natural persons;
- With registered offices in the regions indicated above
- the membership is composed, in absolute numerical majority and participation, of natural persons.

The grant is awarded in relation to the costs incurred by the enterprise in the first 4 years after the date of submission of the application related to:

- Interest on external financing granted to the enterprise;
- Rental expenses of plant, machinery, technological equipment necessary for the enterprise;
- Depreciation and lease payments related to the above plant, machinery and equipment;
- Salary costs related to employees.

The amount, per year, of aid that can be granted is 50,000 euros for a total amount for each enterprise of 200,000 euros.The aid per year cannot exceed 33% of the total aid granted over the 4 years.

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