SOFIA – Grants for the small business affected by the pandemic

A total of 173 million levs (€88.4 million) will be given to small and micro companies that registered a decrease of at least 20% in their turnover this April compared to the same period of 2019.

These companies can obtain between BGN 3,000 to 10,000 (€1500-5000) to cover their most pressing needs, such as rent, supplies, raw materials, salary costs and other working expenses.

The grants come from the EU Innovation and Competitiveness programme called “Supporting Micro and Small Enterprises in Overcoming the Economic Impact of the COVID-19 Pandemic”.

The country’s economy ministry, which manages the EU programme has said that companies should apply online and that administrative procedures should be very simple.

(Krassen Nikolov | EURACTIV.bg)

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