The scheme aims to improve labor productivity by moving from lower to higher productivity levels, with the provision of subsidies to companies for designing, editing, compiling and implementing their business plans.
Specifically, the scheme may provide the granting of subsidies of 75% of the market costs for advisory services, training and purchasing of new software, as well as subsidies of 50% for staff costs who will occupy positions over the various stages during the implementation of the eligible activities.
- Beneficiaries : Cypriot SMEs, which at the date of their application being submitted have been active for at least three (3) years and have a minimum number of employees, over the previous year, prior to the submission of the application, of at least ten (10) people.
- Who is ineligible:
- Entrerprises engaged in the sector of fishery and aquaculture.
- Entrerprises engaged in the primary production of agricultural products
- Eligible Costs:
- market advisory services,
- personnel costs,
- training costs,
- purchase of specialized software to assist their functions.
The maximum amount that can be granted for each business plan amounts to €80.000.
The following table summarizes the categories of eligible costs and the respective rates and amounts of funding:
||Subsidy level (subsidy as a percentage of eligible costs)
|Maximum amount of the subsidy
|Establishing and editing business plan
(cost of consulting services / personnel costs)
|Implementation of Business plan||70.000|