New funding channel for SME growth projects

A nationwide funding channel has been opened for small and medium-sized enterprises.

The aim of the new funding is to accelerate major growth decisions by SMEs and strengthen investment capacity across the country, the Ministry of Economic Affairs and Employment says in a press release.

“Finland needs investments right now – investments that raise productivity, strengthen exports, and thereby boost employment. This funding will allow SMEs to carry out significant growth projects more quickly,” Minister of Economic Affairs Sakari Puisto (Finns Party) says in the ministry’s press release.

The nationwide call targets SMEs that are pursuing significant growth and exports, adopting new resource-efficient production technology, or developing clean transition solutions. Applications are open until the end of August, and the funding available totals €19 million.

What can funding be granted for?

The support is granted as a business development grant by the regional vibrancy centres.

Grants can be awarded for acquiring machinery and equipment based on new technologies, for intangible investments, and for constructing production facilities that are necessary for production and intended for the applicant’s own use, including related earthwork costs.

The total costs of an investment project must be at least €10 million.

The funding is administered by the vibrancy centres of South-East Finland, Central Finland, Eastern Finland, and Northern Finland.

Source: Ministry of Economic Affairs and Employment

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Toimitus

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