What are the benefits of subsidized programs?
Subsidized investment programs (e.g. ESPA, LEADER, Development Law, etc.) are one of the few remaining ways for a business to access funding for growth and modernization. Additionally, they serve as an incentive, supporting initial investments and new entrepreneurial initiatives across all sectors of the economy. In recent years, they have become a key factor in the country’s investment activity, given that banks have significantly reduced liquidity provision.
Thus, there is an opportunity for potential investors to establish a new business and realize their entrepreneurial vision. Existing entrepreneurs can modernize and further expand their activities. Depending on the terms of each program, Greek businesses can renew their equipment or carry out building improvements. They can also take advantage of renewable energy sources, strengthen their workforce, advertise, and promote their products. All these benefits from subsidized programs will give a business new momentum and dynamism. In many cases, companies that joined subsidized programs secured a strong position in their industry. They developed innovations and stood out both in the domestic market and abroad.
They are, therefore, a valuable tool in the modern economy with multiple benefits not only for private initiatives but also for public entities or their partnerships. Subsidized programs have a developmental character and support investments and entrepreneurship in general.
How can I take advantage of subsidized programs and what should I be aware of?
Invest in the real needs of your business
Use subsidies wisely. Avoid the mindset of acquiring, for example, equipment that may not align with market conditions and the needs of the time. Before deciding to make an investment, consider whether it will have a positive outcome and quantify it. Do not rely solely on the subsidy. Consider whether you would still pursue the investment without it.
Gain an advantage over the competition
Subsidized programs will provide you with the opportunity to gain a competitive edge and stay ahead of developments. Take into account where the market of your sector is expected to move. The benefits from a subsidy can significantly contribute to expanding your market share. You can also specialize, introduce innovations, save energy, or obtain quality certification if you exploit them properly. Some of your competitors will be doing the same.
Ensure you have your own contribution
It is common for investors to appear as if they have sufficient equity through various tactics. However, in many cases, they found themselves at an impasse during the implementation of the investment, unable to complete it. As a result, some investments remained unfinished. Perform simple financial planning to ensure you will not end up in this situation. Consider the timeframe for implementation set by each program.
Do not delay; submit promptly
Gather all the necessary documents for subsidized programs as soon as possible and submit your application on time. Do not wait until the last minute. You may not have the opportunity for revisions, changes, or corrections. Also, some programs remain active until the budget is exhausted. This means that any delay in submission may result in your proposal not being included.
Choose experienced and specialized advisors by your side
Select individuals with experience who will guide you correctly and lead you to the desired outcome throughout the program. This includes drafting and submitting the application, as well as subsequent management until the final payment of the subsidy. An experienced advisor will guide you so that your investment has a comprehensive character. They will suggest solutions for your proposal to achieve the highest possible score and maximize approval chances. The cost of drafting and monitoring the investment plan is included in the subsidy amount.
At ΙΩΝΙΚΗ, we are ready to inform you about active subsidized programs and the possibilities of including your business in one of them, always based on your specific needs and priorities.
For more information, request a telephone appointment by clicking the button below, and a specialized economist from our company will contact you.
Subsidized Programs: Benefits and What to Watch Out For
25 November 2022
ΙΩΝΙΚΗ Finance
What are the benefits of subsidized programs?
Subsidized investment programs (e.g. ESPA, LEADER, Development Law, etc.) are one of the few remaining ways for a business to access funding for growth and modernization. Additionally, they serve as an incentive, supporting initial investments and new entrepreneurial initiatives across all sectors of the economy. In recent years, they have become a key factor in the country’s investment activity, given that banks have significantly reduced liquidity provision.
Thus, there is an opportunity for potential investors to establish a new business and realize their entrepreneurial vision. Existing entrepreneurs can modernize and further expand their activities. Depending on the terms of each program, Greek businesses can renew their equipment or carry out building improvements. They can also take advantage of renewable energy sources, strengthen their workforce, advertise, and promote their products. All these benefits from subsidized programs will give a business new momentum and dynamism. In many cases, companies that joined subsidized programs secured a strong position in their industry. They developed innovations and stood out both in the domestic market and abroad.
They are, therefore, a valuable tool in the modern economy with multiple benefits not only for private initiatives but also for public entities or their partnerships. Subsidized programs have a developmental character and support investments and entrepreneurship in general.
How can I take advantage of subsidized programs and what should I be aware of?
Invest in the real needs of your business
Use subsidies wisely. Avoid the mindset of acquiring, for example, equipment that may not align with market conditions and the needs of the time. Before deciding to make an investment, consider whether it will have a positive outcome and quantify it. Do not rely solely on the subsidy. Consider whether you would still pursue the investment without it.
Gain an advantage over the competition
Subsidized programs will provide you with the opportunity to gain a competitive edge and stay ahead of developments. Take into account where the market of your sector is expected to move. The benefits from a subsidy can significantly contribute to expanding your market share. You can also specialize, introduce innovations, save energy, or obtain quality certification if you exploit them properly. Some of your competitors will be doing the same.
Ensure you have your own contribution
It is common for investors to appear as if they have sufficient equity through various tactics. However, in many cases, they found themselves at an impasse during the implementation of the investment, unable to complete it. As a result, some investments remained unfinished. Perform simple financial planning to ensure you will not end up in this situation. Consider the timeframe for implementation set by each program.
Do not delay; submit promptly
Gather all the necessary documents for subsidized programs as soon as possible and submit your application on time. Do not wait until the last minute. You may not have the opportunity for revisions, changes, or corrections. Also, some programs remain active until the budget is exhausted. This means that any delay in submission may result in your proposal not being included.
Choose experienced and specialized advisors by your side
Select individuals with experience who will guide you correctly and lead you to the desired outcome throughout the program. This includes drafting and submitting the application, as well as subsequent management until the final payment of the subsidy. An experienced advisor will guide you so that your investment has a comprehensive character. They will suggest solutions for your proposal to achieve the highest possible score and maximize approval chances. The cost of drafting and monitoring the investment plan is included in the subsidy amount.
At ΙΩΝΙΚΗ, we are ready to inform you about active subsidized programs and the possibilities of including your business in one of them, always based on your specific needs and priorities.
For more information, request a telephone appointment by clicking the button below, and a specialized economist from our company will contact you.
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