Grant scheme “Support for the implementation of business ideas in Latgale”

Grant scheme “Support for the implementation of business ideas in Latgale”

Open call for project proposals of the small grant scheme “Support for business ideas in Latgale” within the framework of the European Economic Area Financial Mechanism 2014-2021 period programme “Local Development, Poverty Reduction and Cultural Cooperation”.

The small grant scheme supports projects that implement a new business idea and create at least one new job in the Latgale region.

New business idea:

Creation of new products or services;
Improvement of existing products, significant increase of production capacity or significant change of production processes;
Improving the efficiency of existing services.

Eligible applicants:

any self-employed person, who has registered as a person conducting business pursuant to the Law on State Social Insurance and conducts business in the Latgale Region;
sole proprietor or a legal person conducting business at a registered office or a structural unit registered with the State Revenue Service and located in the Latgale region, if the applicant for support complies with the status of a
- micro-enterprise (up to 5 employees, turnover up to 40,000 EUR)
- small enterprise (up to 20 employees, turnover up to EUR 1,000,000)
- the share capital of a micro or small enterprise has at least 75% of the private capital shares.

Partnership:

The project applicant shall implement the project alone or together with one or more project partners, who are involved only in training activities to increase employee productivity, and the eligible costs do not exceed 10% of the total eligible costs of the project.

Aid intensity: up to 55% of the total eligible costs of the project.

Support for one project: 5,000 – 10,000 EUR

Eligible costs:

Acquisition of new production fixed assets and software;
Costs of obtaining or using patents, licenses, copyrights and trademarks (up to 10% of the total eligible costs);
Fee for employee participation in training (up to 10% of the total eligible costs);
Depreciation part of fixed assets corresponding to the duration of the project and the amount of actual use;
Audit costs.

The duration of the project is up to 12 months from the conclusion of the contract.

In case the project eligible costs include the part of software and fixed assets purchased and depreciated during the project, corresponding to the project cost eligibility period and actual use, the project implementation period is up to 24 months.

The project implementation time is no longer than April 30, 2024.

Regulatory legislation:

Documentation of the open call for project proposals of the small grant scheme “Support for business ideas in Latgale”:

Announcement of the open call

Project application selection rules

Project application form

Project budget form

Project cashflow form

Methodology for the assessment of the project applications

Draft project contract

Start date of submission of the project applications: 17 June 2021.

Deadline of submission of the project applications: 21 September 2021