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Grants for companies

EU grants for opening a business

If you are just opening a business and looking for financing, read this article. You'll learn where to look for grants and how to obtain them step by step.
philip-samchuk
Filip Samczuk
Author of the article
Published
January 17 2023
Reading time
5 minutes
Grants for opening a business - photo of euro
Table of contents

Introduction

Looking for funding to start a business? You're in the right place. In this article you will learn, among other things, where to look for funds when you plan to start a business. Polish future entrepreneurs can take advantage of various forms of support. Therefore, in order not to miss these opportunities, read the article to the end. Maybe thanks to this you will soon obtain non-refundable funding for your company.

EU grants for opening a business - basic assistance programs

EU Grants for opening a business is one option for financing initial development. Start-up grants are funds granted by the government or other institutions that can be used to cover costs associated with starting a business. These grants can be used for various purposes, such as purchasing equipment or renovating premises. Also for training for entrepreneurs or for the development of new products or services. The conditions for obtaining grants may vary depending on the support program. To know them, you need to read the regulations carefully.

moneybag

The most popular form of support is a grant from the labor office. It is awarded by the District Labor Office. To find out if there is a call for proposals at the moment (whether there are funds available), contact the relevant PUP. The value of the grant from the labor office is about PLN 30,000. To obtain funding, you need to fill out an application, similar to the following business plan.

Grants from the labor office are not the only option. EU grants for opening your own business are also available elsewhere. As an example, there is the "Development of Startups in Eastern Poland" program, under which it is possible to obtain up to one million zlotys for the development of a newly established company.

Other options include taking advantage of the Local Action Group's offerings or ARMA grants for opening a non-agricultural business.

Also check out business incubators and gas pedals.

So the possibilities are many, and the above options are selected examples. It is important to constantly monitor the offer of grants so as not to miss the chance for funding.

Where to look for grants to open a business?

As indicated above, the key is to get information that funds are available. To this end, you can follow all the information on your own. For example, calling a specific local action group (due to our location) or checking the websites of government offices, local authorities, etc. on a daily basis.

However, the above-mentioned measures are time-consuming and do not guarantee success. Therefore, an alternative solution is to entrust the monitoring of currently available support programs to specialists. We conduct such monitoring (guide) for more than 100 entrepreneurs on the site DostepneDotacje.pl ; Using this type of solution, you get guarantees that you will not miss not only European funds, but also information about other, less obvious support programs.

A banner encouraging people to sign up for the subsidy guide

EU grants for opening a business - step by step

In order to receive a grant to open a business, several steps must be completed:

  1. Find the right grant program for your type of business. These can be government, EU or local programs.
  2. Prepare all the necessary documents, such as a business plan, a completed application, etc.
  3. Apply for a grant according to the program's requirements.
  4. Await processing of the application by the relevant institution.
  5. If your application is successful, you will receive a grant to open a business.
  6. Carry out your project and account for the grant according to the requirements of the regulations or contract.
Grants for opening a business - photo of euro

Note: The conditions and requirements for obtaining a grant vary from program to program and country to country, so it is important to carefully study all the information on the program you want to use.

Advantages and disadvantages of using a grant for your own business (first business)

The pros of getting a grant to start a business are:

  1. Financial support: the grant can help cover the cost of investment, hiring employees, purchasing equipment, etc.
  2. Making it easier to get started: A grant can help start a business that might otherwise be difficult to launch due to lack of funding.
  3. Prestige: Receiving a grant can send a good signal to potential customers and investors that the company is solid and has potential.

The downsides of getting (or just getting) a grant to start a business are:

  1. Application Process: The process of applying for a grant can be complicated and time-consuming. As a result, it can slow down the opening of a business.
  2. Competition: Competition for grants is usually high, which means that not all applicants will receive a grant.
  3. Reporting obligations: Companies that receive a grant often have to report on their operations and financial performance, which can be difficult and time-consuming.
  4. Restrictions: Grants often come with certain restrictions, such as the need to hire a certain number of employees, achieve certain goals, etc.

EU grants for opening a business - summary

Grants for a first business are a form of financial support to start a business. To take advantage of a grant, you must meet certain conditions and go through several steps, such as finding a suitable grant program, preparing documents and submitting an application. Grants can be of government, EU or local origin. Grants for a first company have their pros and cons, such as financial support, ease of start-up, prestige, but the application process, competition, reporting obligations and restrictions should also be taken into account. Receiving a grant for your first company is not guaranteed and you need to carefully study the conditions and requirements for the program.

EU grants for opening your own business - questions and answers (FAQ)

Can I get a grant to start a business?

Yes, there are various grant programs that can help you start a business.

What documents do I need to apply for a startup grant?

Documentation requirements may vary depending on the grant program, but usually a business plan will be needed. A completed application is the basis.

How long does it take to apply for a startup grant?

Application processing time can vary depending on the grant program, but usually takes from several weeks to several months.

Do I have to meet certain conditions to receive a start-up grant?

Yes, conditions and requirements may vary from one grant program to another. For example, a grant may only be for an SME company, operating in a specific industry, in a limited area.

Can I use the start-up grant for other purposes?

No, the grant must be used for the purposes specified in the grant program. Companies that have received a grant are required to submit reports or statements that confirm that the grant has been used for its intended purpose.

Can I get a startup grant with no contribution?

It depends on the grant program, but an own contribution is often required.

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About the author

philip-samchuk
Filip Samczuk
For 12 years, he has provided substantive support to entrepreneurs in realizing their dreams of starting or growing a business. He advises on obtaining financing, business development and legal issues. Privately a fanatic of sports, travel and history of the 20th century.

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