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Starting a Subsidized Business

It has been observed the tendency of Greek citizens to want to become professionally independent and from a wage labor relationship, to proceed with the creation of private companies.

Certainly, an investment act is accompanied by stress, but it can be characterized as more profitable in relation to the existing financial rewards of the employees, in an economy with a constant increase in the prices of the products and services of basic needs.

The steps that the interested party must follow, in order to reach their goal, are the following:

  1. Putting the idea on paper and finding innovative elements that will make it stand out
  2. Finding the right program
  3. Eligibility search of his idea according to the terms of the program
  4. Compilation of the investment plan
  5. Submit within deadlines with a focus on the innovative idea

Furthermore, it is absolutely important that the interested party takes care of finding funds to implement the investment plan. More generally, the "style" of the European programs focus on subsidies resulting from the completion of the physical and economic object. Simply put? When the investor submits a request for an interim or final control procedure and consequently a payment, he should (in most cases – determined by the respective program guide) have collected the necessary supporting documents, such as for example: invoices and their payments. This implies

  1. For the equipment: with purchase and installation costs at the place of implementation of the program
  2. For services: completion of the service provided and payment thereof

The investment funds can come from previous years' income or even from an investment loan contract that will be drawn up and signed by an approved financial institution, as defined by the program guide. Strictly speaking, the loan agreements will only be available for repayment and completion of the investment. In this case, it is necessary to reflect the use of the loan in the contract.

A different way to repay suppliers, eligible for the new programs, is the Escrow Account or in Greek: the Open Trust Account. But what is an Escrow Account? It is a mechanism that facilitates the entrepreneur by purchasing the equipment or service and repaying the supplier automatically when disbursing the public expenditure from the program. Essentially, the investor is not involved and the amount attributable to the supplier is deducted from the amount to be enhanced. The corresponding amount of money is disbursed directly to the supplier's business bank account.

Finally, the success factor is the intention to implement your plan and the adherence to the original idea. The programs allow the modification of various characteristics, but not the alteration of the initial investment plan for which the interested party has been rated.

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Starting a Subsidized Business

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