Entrepreneurship Grants

New Business Activity Announced: Aiming to Develop, Support and Promote Entrepreneurship

New Business Activity Announced: Aiming to Develop, Support and Promote Entrepreneurship

It announces the launch of a programme that seeks to develop, support and promote entrepreneurship, with a focus on specific population groups such as young people and women who wish to engage in entrepreneurship in various economic sectors.

Beneficiaries of the Programme:

  • Young men and women who have been legally resident in areas under the exclusive control of the Republic of Cyprus for the last six months and have free access to the labour market.
  • Unemployed or employed.
  • Young people aged 18-29, men 30-50 and women 30-55.
  • Persons who have not carried out a business activity in the six months prior to the submission of the application.

Extent of Sponsorship:

  • The grant is 70% for young people aged 18-29 years old.
  • For men aged 30-50 and women aged 30-55, the sponsorship will be 60%.
  • The grant is calculated on the cost of the eligible costs of the investment, with a maximum budget of €120,000 per enterprise.

The programme includes activities in the manufacturing, services, e-commerce and tourism sectors. The aim is to enable young people and women to use their knowledge, experience, training and talents to create strong and sustainable businesses.

Why would I do it?

Participation in the project provides significant financial support and funding for starting or expanding business activities, reducing financial risk and upfront costs.

Opportunities for Development and Training

The programme offers opportunities for professional development, education and training, helping individuals to develop their skills and enhance their entrepreneurial abilities.

Promoting Innovation and Creativity

Participation encourages innovation and creativity, giving participants the opportunity to implement new ideas and explore new markets.

Support Network and Partnerships

Active participation in the project gives access to a support network, including other entrepreneurs, advisors and experts, as well as the possibility to build partnerships.

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It is addressed to: Men and women legally residing in controlled areas of the Republic of Cyprus, regardless of their employment status. * Dismiss this alert. This notice is issued by the New Labour Party.

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