The Gaztenpresa Foundation has been talking for months about the arrival of new European Funds specifically for large companies. However, various calls for support for SMEs and the self-employed have now begun to be considered, including the Digital Kit. But what is the reality of entrepreneurship grants? This topic was discussed in a webinar on March 18th.

Who is the seminar for?
This webinar is aimed at anyone who has a business idea, is about to start a business, or has just started a business.

Who were the speakers?
The presentation of the session was given by the General Manager of Gaztenpresa, Inma Ramos, but the talk was given by Marta Boixadós Magrí, Senior Consultant at LKS Next.

Next Generation EU Funds

What are the Next Generation EU Funds? They are a tool of the European Commission, designed to promote economic recovery and ecological and digital transformation, without forgetting gender equality and social and territorial cohesion.

The funds will be received by public administrations as loans and subsidies, and in the case of Spain, one of the largest beneficiaries of these funds, the total amount received will be 140 billion euros.
In total, € 750 billion will be mobilized across 2021 EU countries and will be funded by European Union countries through lines of loans and grants. In this case, public administrations and the private sector will have to make an unprecedented effort; in fact, the public sector must focus on them and the private sector must be able to mobilize the resources needed to finance the projects. According to estimates, the leverage effect of the funds will be 3 or 4 times the amount received, and in the case of Spain, it could be 500,000 million euros.

What companies need to do to get these funds

Calls will be made periodically and companies will be able to submit their projects, depending on the sector of their business activity and the project they are working on. The deadlines for submitting these calls are likely to be short, about a month, so it will be very important to be ready for the call and to be able to participate with the greatest possible guarantee of success. Companies should consider the following aspects when submitting their projects:

• The project must be consistent with and in line with national and European policies (digitalisation, ecology, gender equality and social cohesion).
• A good description of the project, taking into account the quantitative and qualitative objectives that will be set and the impact that the project will have on the environment. In addition, it will be necessary to consider whether and how to collaborate with other public or private actors.
• Proper calendar. Projects must be completed between 2021 and 2026, but expenses must be earmarked by December 31, 2023. As a result, companies will have 2 years to make the most of their investment and develop their project.
• A well-structured budget and funding. These funds will not fully fund the project. Depending on the project, the funds will make up 25-30% of it, so the additional funding required for the project will be taken into account (partner contribution, bank financing, investment funds, etc.).

LABOR Next consulting service

Next Generation EU funds will be among us in the coming years, and will largely condition the investment of both large companies and SMEs. Therefore, in order to help our customers understand the opportunities offered by European funds and to make the most of the aid and subsidies that can be obtained from these funds, we have created LABORAL Next.

This advisory service is based on the following 4 points:

•  Through the virtual assistant, companies will register and decide which lever or component they want to receive information about. In this way, the collaborator will take into account the characteristics of the company's project, sector or size, and will send personalized information on the calls that best suit each case.
• Project eligibility. With the project data submitted by the companies and the options identified, we will recommend the most appropriate call for each situation.
•  Call submission. If you want to take part in a call, we will work together with companies to prepare the report and prepare the documentation to be submitted.
• Funding for projects and advancement of grants. We have the necessary tools to be able to provide financing for each project in the quickest and most appropriate way possible, both in the progress phase of the grants and in the financing of the project.