This year, Montenegrin companies will have the opportunity to obtain non-repayable financial aid in the amount of at least €1,3 million, through the Program for the improvement of economic competitiveness.
The Ministry of Economy has consolidated supports to the development of entrepreneurship and business sector and shaped it into a unique program, with the aim of developing companies and increasing their competitiveness, which will eventually create a strong and export-oriented economy.
Funds will be granted to private companies, seated in Montenegro, which pay taxes and contributions on a regular basis, aren’t in the bankruptcy procedure or haven’t had financial aid for the same project in the past three years.
This year’s program envisages six lines of financial support: improvement of innovation, setting international standards, modernization of processing industry, development of clusters, stimulation of direct investments and development of crafts.
In addition, the program will offer two lines of non-financial support – provision of monitoring services and development of entrepreneurship. At the same time, two measures will be implemented – Business zones regulation and promotion of the enhancement of competitive ability of products and services.
Program line for innovation improvement amounts €50.000.
€140.000 will be provided for the introduction of international standards. This amount will be used for co-financing accreditation and adaptation of business to international standards. Around 70% of costs will be refunded to the companies.
Budget of the program line for crafts development amounts €50.000. It will refund up to 20% of costs related to the acquisition of equipment and tools, up to 50% for manifestations, design and promotional material. Deadline for submitting applications is 1st December.
Clusters might be able to get up to €15.000 on the basis of draft project that should be delivered not later than 2nd September. It’s the Amount not higher than 50% of costs of the project.
Program line for the stimulation of direct investment is worth €1, 05 million.
The amount of granted funds is determined by the number of new employees and score number in the valuation of the investment project. It can range from €3.000 to €10.000 per employee.
Public call will be open by 30 September.
