Within the frame of the program the budget is €4,000,000.00. Each investment plan may receive a grant under the program from €60,000 up to €300,000.

The subsidized budget cannot be higher than three times the highest turnover achieved in one of the two complete closed business years prior to the date of submission of the funding application (2022-2023), up to a maximum of €300,000.

Investment plans with a budget of less than €60,000 are deemed non-eligible de facto and cannot be submitted.

In the case of budgets over €300,000, the surplus amount will be deemed as 100% private participation for the implementation of the plan and,although the surplus expenditure is not subsidized, the entire investment project, including the surplus cost, is subject to assessment and monitoring/control. 

In the context of this action, beneficiaries (whether legal entities or natural persons–enterprise) that can benefit from public funding under this action are existing micro, small and medium-sized enterprises, as defined in ANNEX IV: “Definition of SMEs & SME declaration template" of the invitation to invest exclusively within the North Aegean Region.

Existing companies are defined as businesses that have at least two (2) complete, closed business years 2022-2023 prior to the date of online submission of the financing application.

Complete, closed business years are fiscal years for which the final financial results have been determined in accounting terms and the appropriate tax forms (e.g. forms E3 & N) have been submitted to the tax authorities (AADE), and which each present a duration of 12 months.

Indicatively, the preconditions of the program are listed below, while further details are given in the call for participation in the program:

I. The business must have been active or intend to be active in the North Aegean Region and carry out the investment exclusively in the North Aegean Region.  

II. The proposed investment plan must relate to at least one of the eligible SMRs included in ANNEX XI:  "Eligible sectors of activity" of the published Invitation, in which the beneficiaries should be materially active in the financial year 2023 (main sectors of activity or sectors of activity that generate the highest revenues for the business).

III. Evidence that Private Participation in the proposed investment plan has been secured at a rate of least 25% of the Total Budget. 

IV. The business must have at least one (1) AWU (Annual Work Units) of employees in the calendar year prior to submission of the financing application.

V. The business should not be co-located with another business. The place where the investment takes place must not be the main or secondary residence of the beneficiary.

The program finances the following expenses:

• Staff costs 
• Expenses for equipment, means of transport  
• Expenses for the provision of services
• Software costs
• Promotion – Marketing – Networking Expenses 
• Indirect expenses

The State Subsidy Programme for Small, Micro and Medium Enterprises offers 50% aid, while the remaining 50% is private participation.

State expenditure is co-financed by the European Regional Development Fund (ERDF) using joint support (Article 25 of EU Regulation 1060/2021) for the financing of interventions falling within the scope of ESF+ (European Social Fund) aid. 

The funding application (investment proposal) must be submitted electronically by potential Beneficiaries, only through the Integrated State Aid Management Information System (ISAMIS) opske.gr  

Loan applications should be submitted from 16.09.2024 to 14.11.2024 by 15:00 at the latest.

Important note: The evaluation is comparative and is carried out for all applications submitted within the designated deadline.