Many entrepreneurs require a large amount of capital to start their business. They need premises, they need to equip themselves with machinery and equipment, and they need to purchase supplies to start producing and selling their products. These costs can be covered from funds saved for this purpose, by using one of the loans or with the help of business grants.
Labor Office
In the application of the active employment policy, the labor office provides subsidies for the creation of socially useful jobs. By creating new jobs with entrepreneurs, the Labor Office assists those who cannot find employment in the labor market. The subsidies are often given to entrepreneurs who are engaged in one of the professions, and preference is given to those who are 55 years old or older, or conversely, those under 25 years old who do not yet have a regular job. Entrepreneurs may receive funds equivalent to six times their average income to start a business.
EU grant programs
Must start with a detailed project plan outlining all intentions and plans. It should clarify what the project will accomplish, the resources needed, and the timeline.
The next step is to select a grant program. Here, it is first necessary to consider whether the entrepreneur meets the requirements set for the applicant, whether the project is feasible, and whether the project budget and grant application amount are within the range announced by the contracting authority. It is also important to ensure that the entire application is properly processed on time.
Processing an application is not simple and usually includes a feasibility study, financial analysis, and other required supporting documents. A precise methodology for processing applications has been published and should be familiarized in advance. It is advisable to examine the published evaluation criteria and process the entire application accordingly. Care should also be taken to ensure that the application is laid out in an easy-to-read manner and that the various parts of the application form are easily accessible. Failure to follow the required elements of the application form will result in the application being rejected for lack of formality.