- Flemish support to growing SMEs
Flemish support to growing SMEs
The Flemish government provides up to 50,000 euros in support to each SME that wants to be guided during a turning point in its growth trajectory. Companies that want to develop a transformation, innovation or internationalisation project, but lack the necessary strategic knowledge, can get financial support to obtain external advice or hire a strategic employee. The subsidy consists of 50% of the cost of the advice, or 50% of the personnel costs of the new employee during his or her first year of employment.
This measure has been around for some time, and has already been a success story for many SMEs, from the food to the textile sector.
Recently, however, the assessment criteria have been made more concrete:
- vision of economic growth
The strategic project will eventually lead to sustainable economic growth (in turnover, FTE or investments) of the company.
- turning point
The project has an impact on various facets of the company's operations and therefore requires a professional and holistic approach.
- well-founded approach
A well thought-out step-by-step plan has been worked out, which clearly shows that
- the company identifies all business processes that will be subject to change;
- the growth path can be realised in a sustainable way;
- there is sufficient financial capacity to perpetuate the growth;
- the growth trajectory is supported by every employee of the company.
- need for strategic knowledge
The company demonstrates that the current strategic knowledge, necessary for the realisation of the growth trajectory, is not present, but that this knowledge will be acquired through external advice and/or the recruitment of a strategic employee.
Should you require further information regarding this and other subsidy measures tailored to SMEs, or require guidance in applying for this subsidy, please do not hesitate to contact us via the link below.