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Ministry of economy: in Estonia the subsidies to small and mediumbusinesseswill increase

Министерство экономики: в Эстонии вырастут дотации малому и среднему бизнесу

Minister of Economy and Industry Erkki Keldo (Reform Party) signed amendments to the resolution, which makes more flexible the subsidies allocated to the Small and Medium Business (VKE) program.

Minister of Economy and Industry Erkki

Keldo. Minister of Economy and Industry Erkki Keldo. Photo: Sille Annuk

/ Postimees

28 January

2025, 10:57

Minister of Economy and Industry Erkki Keldo (Party of Reform) signed amendments to the Resolution, which makes more flexible the subsidies allocated to the Small and Medium

Business (VKE) program.

The lower limit of the subsidy will increase to 300 000 euros, and the grant can now be used for the construction and renovation of buildings, and also for financing participation in professional fairs and exhibitions.

In the future firms will be able to use the new measure of support allowed for design, construction and reconstruction of buildings and structures, and also connections to electric, gas, water, sewer, and water supply networks that were not previously supported. In the Minister’s view, the liberation of the conditions measure is necessary to ensure that EU funds can be used to the maximum extent.

“We learned lessons from the experience of supporting small and medium businesses in Ida-Virumaa and decided to make the conditions for support more flexible across Estonia, so that support can be maximally utilized forrevitalizing business,” explained Minister of Economy and Industry Erkki Keldo.

Also the maximum amount of support will be increased from the current 200 000 euros to 300 000 euros, which allows more large projects and accounts for additional acceptable costs. If a grant is requested as less significant in scope of assistance, the percentage of subsidy may be up to 50% for a medium enterprise and up to 60% for micro and small enterprises.

The total amount of the measures to support businesses is 17.5 million euros, of of which 361 000 euros has been disbursed to todate. The change in conditions based on the bids of companies also contributes to increased interest in subsidies. Applications are now being accepted forgrants.Grants are paid by theEnterpriseandInnovationfoundation(EIS).

AmendmentstotheOrdinancewillbecomein forceafterpublicationinRiigiTeataja.

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