As announced a couple of days ago during her institutional trip to New York (USA) by the president of the Community of Madrid, Isabel Díaz Ayuso, on Wednesday a new line of aid was approved to promote the growth of micro-enterprises —those with a maximum of nine employees— and self-employed workers in the region, covering up to 50% of the investment necessary for the growth of their businesses.
This new aid for self-employed workers is aimed at micro-enterprises that operate in the Community of Madrid and have been in existence for at least three years. They must also submit a detailed business plan “for the development of their company, including eligible actions and expenses,” according to the regional government.
“Starting in the second quarter of this year, SMEs in Madrid will have access to a new line of aid for business consolidation. This initiative is also a first in Spain, and with it we want to boost those companies that are successful and want to continue growing through direct financing for their best projects,” explained Ayuso when she announced the measures on Monday.
The regulatory bases for the call for applications will be published shortly in the Official Gazette of the Community of Madrid, which can be consulted at this link.
Which businesses are eligible for up to €150,000?
Another objective of this aid is to boost small businesses in the 142 municipalities with fewer than 20,000 inhabitants in the region, so it will be micro-enterprises and self-employed workers operating in any of these municipalities who will be eligible for the maximum subsidy amount: €150,000.
The rest of the beneficiaries will be eligible for grants of up to €140,000.
What expenses does this new aid for self-employed workers in Madrid cover?
According to the Madrid government, expenses such as hiring new staff, expanding or renovating premises, relocating or opening new establishments, purchasing and installing equipment, or costs related to acquiring or merging with another company for expansion will be financed.
In addition, the actions must have been carried out in the 12 months prior to the application or after its approval.