2023 is the first year of the new budget perspective 2021-2027 in Poland. In other words, there are record funds at the disposal of entrepreneurs. At the same time, this is the last such favorable distribution of funds for Poland. Therefore, it is worthwhile to quickly get an idea of the opportunities and take advantage of the grants. This can significantly help you grow your own business (including if it is run as a company). Read the article to find out what European funds and other resources are or will be available.
The starting point for obtaining funds for enterprise development or business start-up is to obtain information on relevant programs. In any given month there may be dozens of projects in this area. Such a result is possible when you add all the grant programs, preferential loans, activity of private investors or competitions for companies with financial rewards.
As of today, the only place on the Polish Internet that aggregates all of the above-mentioned programs in one place and makes it into a readable, transparent guide for entrepreneurs is the newsletter on the site DostepneDotacje.pl ;
You can also track information on your own. This is, however, difficult, because unless you deal with grants on a daily basis, you are unlikely to reach all sources in this area. In addition, calls for proposals change very often. As a result, such verification should be done at least once a week.
And where can you look for information? I'll just give you some sample sources:
In addition, support for small and medium-sized companies is often available through business incubators, gas pedals, within startup platforms or in local action groups. You'll also find information in Regional Programs implemented on a provincial scale. This is just a sample list - there are more programs. As you can see, the potential opportunities are really quite a lot. Therefore, there are opportunities to take advantage of funding.
To receive funding, you need to identify the right program. This you already know. What's next? Check out the infographic below:
The second step is the professional drafting of a grant application. To increase your chances of obtaining EU funds, it is worthwhile to outsource this task to experienced professionals.
At this stage, you may need a detailed business plan. It is usually required by institutions such as PARP, NCBiR, Local Action Groups. When you are planning your own business or developing a new project it is still a good idea to draft such a document for your own purposes.
Remember also that it may be necessary to show your own contribution. Its amount may depend on where the project is implemented (lower own contribution for companies from eastern Poland).
Detailed specifications and criteria for the requirements can be found in the program regulations. It is important that the date of application fit within the deadline - preferably in the first round of calls, as long as there are funds available. Some funding opportunities run out just in the first round of a given call due to the huge number of applications. This is another argument for having full knowledge of calls for proposals - as soon as possible.
Applications for European funds usually take many weeks (2-3 months on average) to process. Take this into account when planning your schedule of activities.
After a successful application, you enter into a financing agreement. Later, you proceed with the implementation of the project.
During and after the project, it should be properly accounted for (reports, etc.).
In addition to grants, there are also repayable instruments, i.e. loans and credits. Importantly, these are often loans granted on preferential terms. The interest rate on the loan may be lower than on commercial loans. Other benefits are also possible, such as no commission, lower or no own contribution.
It is worth following information from BGK (Bank Gospodarstwa Krajowego) in this regard as well as from institutions operating locally.
You can also find information on this type of financing in our guide.
Also be interested in programs such as "liquidity loans," "technology loan" or "eco-innovation loan." Perhaps, any of these programs will fit your expectations.
On the other hand, to start your own business, you can apply for financing from such programs as "microloan" or "startup support". Some new funding opportunities will only be known in the coming months, as the terms and conditions are still being laid out.
So, EU projects are not the only source of funds for company development.
In addition to EU funds for business development, funds are also available for just starting a business. This is especially true for micro, small and medium-sized enterprises. Support can be sought from the Agency for Restructuring and Modernization of Agriculture, labor offices or Local Action Groups, among others. Often funds are also available under regional operational programs. The subject of the planned business activity may be important.
You can find a summary of the full capabilities in our guide.
Particularly preferred industries in terms of subsidies are currently the implementation of innovations or the use of renewable sources - more broadly, anything ecological. Of course, other companies can also apply for subsidies. Simply statistically, it is the above-mentioned enterprises that will have the easiest time getting funds. This is due to EU policy, which wants to support innovation and energy transformation.
Business development in other industries will also be possible, but finding the right program may require much more time and effort.
With most projects, it doesn't matter whether you run your business under a business registration or an entry in the National Court Register.
You can also develop your business with private financing.
Your chances are especially good if you operate in the high-tech field. Investors are constantly on the lookout for new companies that fit into their investment policy. These include business angels (wealthy individuals) or seed capital funds (pre-seed and seed).
Venture funds make a lot of investments, hoping that every one of them will bring them a huge return, even several hundred times.
Starting your own business or growing it with the support of the right investor, greatly increases the chances of success.
In order to convince an investor to invest, it is usually necessary to prepare a detailed business plan in the form of a presentation (known as a pitch deck).
Remember that it is very easy to burn a contact if you go to an investor unprepared. You only make your first impression once. In order to improve your initial situation, consult your level of preparation with an expert, before entering into discussions. Also, be sure to involve a lawyer when negotiating the final content of the contract.
A detailed catalog of eligible costs, i.e. expenses for which you can use the grant, can be found in the program regulations. It all depends on the project, but statistically the most common are such costs as:
The primary advantage is access to non-refundable financing.
The disadvantage of European funds is the bureaucracy (procedures) involved in the process of obtaining funds. The process often takes many months and requires filling out or delivering numerous documents.
It is also important to keep in mind the restrictions on the disbursement of EU funds or the need to settle the project.
In order to obtain EU funds for the development of your business, the first thing you need to do is to understand what financing programs are available from the European Union and what requirements you need to meet in order to apply for these funds. Here are some steps you can follow:
Identify your business needs and goals to determine which EU financing programs will best suit your needs.
Find the right programs.
Study the requirements and criteria to apply for these funds.
Prepare a comprehensive and careful application that outlines your company and its needs, and justifies the need for financing.
Contact the granting institution and grant experts for additional information and assistance in applying for funds.
Remember that the process of obtaining EU funds can be time-consuming and complicated, so it is important to prepare properly.
Starting your own business with external support can significantly facilitate your start-up as well as the growth of your business - in the case of an existing enterprise. It is certainly worthwhile to explore this topic. To do so, you can contact us or other financing specialists.
Q: What are business development grants?
A: Business development grants are non-refundable funds provided by the EU, government, local authorities, state agencies, companies or NGOs, to entrepreneurs to support their business.
Q: Who can apply for business development grants?
A: Business development grants are available to almost all types of companies, including small and medium-sized enterprises (SMEs), start-ups and other businesses.
Q: What are the criteria for getting a business development grant?
A: The criteria for obtaining a business development grant vary depending on the program and the criteria of the entity providing it. They may include such elements as the company's business focus, location, company size or past profitability, for example.
Q: What is the process of applying for business development grants?
A: The process of applying for business development grants can vary from program to program. It usually requires completing and submitting an application that explains how the grant will help develop the business (including a business plan).
Q: Are business development grants non-refundable?
A: Yes, business development grants are usually non-refundable, which means you don't have to pay them back.
Q: Are there any restrictions related to the use of business development grants?
A: Yes, there are restrictions on the use of business development grants. Typically, these grants must be used for specific purposes indicated in the regulations.
