Cyprus is pioneering the Circular Economy Plan, a strategic initiative aimed at strengthening the competitiveness and sustainability of small and medium-sized enterprises (SMEs). By adopting the principles of the circular economy, businesses open new horizons for growth and innovation while reducing their environmental footprint.
Through the adoption of circular economy practices, businesses can benefit in multiple ways, such as:
- Reducing production costs and increasing competitiveness.
- Improving resource efficiency and reducing environmental impact.
- Developing new, innovative products and services.
- Enhancing the company’s reputation and attracting new customers.
The Plan is addressed to a wide range of SMEs from all sectors of the economy, except for businesses operating in the fields of fisheries, aquaculture, primary production of agricultural/livestock products, and the production of wine and vinegar.
The plan covers a wide range of eligible expenses, providing businesses with the opportunity to invest in areas such as:
- Acquisition of new machinery and equipment that promote resource efficiency and the use of recycled materials.
- Acquisition of new vehicles for the needs of the business and contribute to the circular economy.
- Development of a feasibility study that will assess the current state of the business and plan its transition to a circular model.
- Receiving specialized business coaching on circular economy issues.
- Training staff in circular economy practices.
The funding rate is 50% of eligible expenses, with a maximum grant amount of €400,000.
Submission period: until 30/09/2024 or until the available budget is consumed.
Take a look at the infographic.
With years of experience and expertise in supporting and developing businesses through the exploitation of European and national funds and other financing programs, our consulting organization provides the necessary expertise and support to entrepreneurs who wish to take advantage of these financing opportunities. Our organization’s experience includes the provision of know-how in the processing, management, and submission of proposals for funding, as well as the development of business plans and feasibility studies.