The Official Gazette of the Canary Islands has published the Subsidies for Economic Reactivation of small and medium-sized enterprises in the Canary Islands as part of the European Union's response to the Covid-19 pandemic.
The subsidies foresee a maximum of 60,000 euros to cover up to 45% of the investments made during 2022. Small and medium-sized enterprises in the Canary Islands may obtain 35% of their total investment during the past year, an amount that increases to 42% in the case of companies located in Lanzarote.
The aid is charged to the recovery assistance fund for cohesion and territories of Europe (REACTEU), 100% financed by the European Regional Development Fund (ERDF), as reported by the Chamber of Commerce of Lanzarote and La Graciosa.
In the event that the company is run by a woman or a person with a disability, the aid can reach 45% of the investment. To be eligible for the aid, it is necessary to have undertaken a project of minimum investment of 10,000 euros.
Eligible investment projects include those aimed at creating new SMEs as well as consolidating existing ones through improvements in productivity, technology or the implementation of standards.
Eligible expenses include those for the establishment of new SMEs, capital goods, software, conditioning of premises, external collaborations. The deadline for application ends on May 4, 2023 or once the assigned budget has been exhausted.
