Running your own business is a very responsible task. It involves not only the need to comply with certain regulations, but also covering mandatory business costs or continuously investing in its development. It is therefore no surprise that entrepreneurs are looking for financial assistance to support their business. Find out if your company can also apply for funding!
All forms of development funding are most often targeted at micro, small and medium-sized companies. In the case of large enterprises, additional funding is usually not needed, so such companies are very rarely considered. Those who are just starting out in business can also apply for financial assistance.
In each of the aforementioned cases, the entrepreneur can take advantage of a number of Operational Programmes offering funding to companies from the European Union. He also has the possibility to apply for a grant from the Labour Office.
Which companies are most likely to receive funding?
There is no denying that funding is not granted to every company. An entrepreneur applying for support must therefore take into account a potential refusal from the financing party. It is believed that the greatest chances for a positive response have companies seeking funds for:
- conducting research projects and implementing innovations
Any activity, whether related to research or the implementation of innovations, is very attractive not only to those who finance it, but also to the state. Above all, it is about the possibility of the country's continuous development through the introduction of all kinds of innovations and facilities. For this reason, special programmes have been set up to enable such companies to obtain funding for further work - such as the Intelligent Development Programme.
- implementation of IT solutions
These days, the development of e-commerce and related services is extremely important. In view of this, companies that are dominated by modern technology and IT have a good chance of receiving funding. Thanks to it, they have the chance not only to develop e-commerce, but also to introduce electronic systems within their operations.
- use of green solutions
Ecology also plays a major role in today's world. Companies applying for subsidies related to the introduction of ecological solutions can also count on help. The funds obtained will allow, for example, thermo-modernisation of company buildings or introduction of energy-saving technologies.
- acting outside the country
If you wish to develop your company abroad by opening branches abroad, you can also apply for funding. Most often, this involves the preparation of a concrete and precise business strategy - i.e. a business model for internationalisation.
- training of entrepreneurs
When it comes to business development, one of its most important elements is the opportunity for entrepreneurs to expand their knowledge. Therefore, they can count on subsidies in the field of training. The business owner has the right to use a special Development Services Database, which lists free training, vocational courses or coaching.
Other European Union programmes
Other programmes offered by the European Union, such as COSME, Horizon 2020 or EaSI, also provide funding for businesses. Each of these is primarily aimed at micro, small and medium-sized companies. However, large entities, the self-employed or even a start-up entrepreneur can also count on support.
Those benefiting from this form of funding can count on:
- investment loans,
- working capital loans,
- loans,
- loan guarantees,
- leasingi.
With the help of the funds received, the company can develop its activities in terms of research and innovation, and also has the chance to use the money obtained for the purchase of necessary equipment or a fleet of vehicles. However, it is worth remembering that all EU funds are refundable. For more information, please visit the website of the National Contact Point for Financial Instruments of the European Union Programmes.
Is it worth applying for funding?
There is no denying that the best form of funding is available to companies looking for start-up funding. The offer aimed at start-ups is also often associated with not having to pay back the borrowed money. Nevertheless, obtaining funding can be very difficult and labour-intensive.
Subsidies for already established companies, although involving repayment of the amount obtained, are certainly more advantageous than bank loans or credits. They require lower collateral and a smaller own contribution. Applying for financial support from the EU also avoids complicated formalities.
Companies that are eligible for funding should take advantage of it. However, if they need money for other purposes, it is worth looking into the possibility of attracting an investor.
