SME Consultancy Services Grant Scheme
The SME Consultancy Services Grant Scheme in Malta forms part of the Business Enhance ERDF Grant Schemes. Whilst all these names and titles might be confusing, what you need to know about this support measure is that you can get assistance to cover the cost of your business plan, feasibility study or operations review. 80% of the cost, up to €4,000, is available per project.
This grant is designed especially for micro, small, and medium-sized enterprises in Malta, Gozo, and Comino. It can help you access the necessary expertise to develop a successful business strategy or to understand whether an idea should be turned into a business. For established businesses, this grant can help you explore opportunities for diversification or ways to improve and become more efficient.
Apart from being used to help business owners with starting and growing their businesses, this grant can help them identify additional funding and support, such as eligibility for Micro Invest.
Is SME Consultancy Services Grant Scheme right for you?
A micro-enterprise owner carrying out market research has come across a gap in the market. She believes that she can fill this gap with a creative idea. Before she spends significant time and resources to run her business she wants to understand whether the idea truly makes business sense. She also wants to explore what resources she will need and whether it is realistic for her to obtain them.
In order to benefit from this scheme, the business owner would need to engage the services of a service provider (such as us) who can develop the feasibility study which she requires. As an example, should the study cost €3,500 (excl. VAT), this scheme would refund a total of €2,800 to her. Therefore, a professional feasibility study would only cost her €700 (excl. VAT).
An independent retail outlet owner is planning to expand into online sales, both locally and abroad. His goal is to create revenue even when he is not present in his store. He aims to do this by leveraging the power of the Internet and e-commerce. He understands that in order to be successful in this project he needs more than a mere website, he needs a plan.
The business owner can get in touch with us to develop the business plan for his online ambitions. This plan will cover all aspects of implementation, including financial projections, estimated recruitment needs, and competitor analysis. The cost of the plan would be (as an example) €5,000 (excl. VAT). From this, he should benefit from a refund of €4,000 thanks to the SME Consultancy Services Grant Scheme.