BUSINESS GRANTS - WHERE AND HOW TO LOOK FOR THEM?
Current as of: 04.01.2023
Lack of sufficient funds is often the reason for delaying or abandoning the establishment of a business. A low budget doesn't have to be a problem at all if you are eligible for subsidies. Where can one look for such financing? Which institutions award grants for starting a business, and what do you need to know before applying to expect a successful application? Here are some of the ways in which an entrepreneur can get funding.
Grants from the European Union as a way to start a business
The amount of grants awarded under EU fund projects has increased in recent years, giving those who want to start a business with their help a significant cash injection. However, be sure to make sure that you meet the requirements of the specific program from which you wish to obtain a grant. The offers of EU funds do not include only financial assistance - the beneficiaries have at their disposal, among others, career counseling programs, job placement, internships, apprenticeships, courses or postgraduate studies. People at risk of social exclusion or with difficulties in the labor market can most often count on receiving support from this type of grant.
Projects co-financed by the European Funds operate throughout Poland, and a very wide range of people can benefit from them. Grants for the development of the company are with the possibility of obtaining about 20 thousand zlotys and the amount of bridge support, not included in the grant itself, amounting to 2,000 zlotys. An entrepreneur wishing to apply for such start-up support must have his or her initial business plan evaluated and receive appropriate training.
Grants from the labor office - who can receive them?
The basic prerequisite for obtaining a grant from the district labor office is to be unemployed and to apply even before registering a business. Non-working caregivers of people with disabilities or graduates of a social integration center (CIS) or social integration club (SIC) can also count on this form of support. Before submitting the relevant application, it is important to remember that it may not be possible to obtain grant funds from the labor office if a person has already received support from the Labor Fund. It's not worth procrastinating too long on submitting an application - calls for the program are organized relatively infrequently, and you may have to wait a while for the next round.
Note that the labor office will not grant a subsidy if in the 12 months preceding the date of application the applicant has been in business and the business is registered in the business register. Recent years, however, have brought the possibility of obtaining subsidies even despite not meeting this condition. If the closure of the company was due to a state of epidemic emergency or a state of epidemic emergency, and the object of the planned business is different than before, the unemployed person can still apply for obtaining funds.
Loans for starting a business - what should you know?
If the grants available from the district labor office or from European Union funds are not for you, take a look at the terms and conditions of business start-up loans. They are provided by the Bank Gospodarstwa Krajowego within the framework of the project "First business - support in starting". The offer is dedicated to students, school and university graduates, the unemployed and caregivers of people with disabilities - they just need to meet the conditions specified in the program.
Starting a business with this loan offers great opportunities. Applicants can obtain under it a sum equivalent to up to 20 times the average salary. A distinctive feature of the self-employment loan is the very low interest rate of 0.01% or 0.03% per annum. The loan is granted for a maximum of 7 years. At that time, used to purchase the necessary tools and products, as well as for the lease contribution.