Within the first 10 days of June, the submission of applications for the new scheme is scheduled to start: Entrepreneurship of Micro and Small Enterprises provided for by Chapter IA' (Articles 59, 60 and 61) of Law 4399/16, as amended by para. 4 of article 36 of law 4605/19 (Government Gazette 52 A').

As announced by the General Secretariat for Strategic and Private Investments of the Ministry of Economy and Development, for the convenience of the interested investors, a draft of the notice of the scheme has been posted on the website of the development laws ( www.ependyseis.gr ), where all relevant information is included.

Micro and Small Business Entrepreneurship - Analytics

According to the data published so far on the new regime: Entrepreneurship of Micro and Small Enterprises of Law 4399/2016, among those included in the above aid scheme is the establishment and/or expansion of new The new and expanding and extending hotel units at least three (3) stars, a sector that is of particular interest at the moment.

The beneficiaries of the aid under this scheme are micro, small and medium-sized enterprises that are newly established or in the process of being established in accordance with the provisions of Regulation No. 651/2014 Commission Regulation (EU).

Investment projects covered by this aid scheme must have the character of an initial investment and in particular fulfil one of the following conditions:

1. Create a new unit
2. Expansion of capacity of an existing plant
3. Diversification of a unit's production into products or services that have never been produced in it
4. Fundamental change of the entire production process of an existing unit of a large enterprise
5. Acquisition of the total assets belonging to a closed establishment which is bought by an investor unrelated to the seller and which excludes the mere acquisition of the shares of an undertaking

The investment projects covered by this agreement are supported by the incentives of tax exemption, grant, leasing subsidy and/or subsidy of the cost of employment created. If the aid in the form of a grant is selected, the aid rate varies according to the following factors:

• Region of implementation of the investment project
• area characteristics (e.g. mountainous, border, island areas, etc.)
• Industry of activity
• business characteristics (extroverted, innovative, achieve increased added value, show an increase in employment, etc.)

The total amount of aid per investment project submitted may not exceed EUR three million (3 000 000).

The minimum eligible amount of investment for the inclusion of investment projects in this aid scheme is set on the basis of the size of the entity, namely:

• for small enterprises, to the amount of one hundred and fifty thousand (150,000) euros,
• for micro-enterprises, to the amount of one hundred thousand (100,000) euros,
• for the Social Cooperative Enterprises (SCE) of Law 4430/2016 (A'205), as well as the Agricultural Cooperatives (DP), the Producer Groups (POs) and the Agricultural Partnerships (ABP) of the Law. 4384/2016 (A' 78) in the amount of fifty thousand (50,000) euros.

Also, with the above announcement, the General Secretariat announces that the deadline for submitting applications for the General Entrepreneurship (3rd cycle) scheme of Law 4399/16 has been extended by 15 days. The cut-off date is therefore set at 15 June 2019, instead of 31 May 2019.

The new notice for the General Entrepreneurship scheme (4th cycle) is planned to be published in the first days of September, with the start of submissions on 15 September 2019.