Financial support for SMEs
About this good practice
In 2018, Klaipėda City Municipality in cooperation with partners - business enterprises, higher education institutions, Klaipėda Region Innovation Environment Promotion Center and business associations approved Klaipėda Economic Development Strategy 2030, which defines partners' ambitions - doubled regional economy, 25,000 new jobs, 2,000 new companies, 200% increase in exports of Lithuanian origin and others.
In search of opportunities to achieve the expected indicators of new companies and new jobs, and to promote entrepreneurship of Klaipeda city residents, it was decided to create a support mechanism for SME development.
In the framework of the KEDS2030 strategy, the support procedure for SMEs was approved in 2019 and the first calls for applications for reimbursement of expenses incurred were published. Support is provided from the budget of Klaipeda city municipality.
Calls for applications were published on the website of Klaipėda City Municipality, on social networks, through KEDS partners and Klaipėda ID publicity channels. During the application process, consultations are provided on the completion of applications and the opportunities for SME entities to submit applications. The applications received are evaluated by a commission, which is then examined by the SME Council, which makes a recommendation on the funding of the applications.
The main stakeholders are Klaipėda City Municipality, KEDS partners, SME Council, and the beneficiaries are SME entities.
Resources needed
Resources depends on budget assigned to this measure and budgets in the applications.
In 2019 we received 4 applications with a total compensation amount of EUR 5,000. In 2020 we received 26 applications with need for more than 300 000 Eur, while we had budget 48 000 Eur.
Evidence of success
As the measure only started in 2019 and only 4 applications were received, we capture the huge and growing interest of SMEs in this measure. On the second call we got 26 applications.
After the first call and evaluation of applications, we evalueted which measures are more relevant for SMEs - we reviewed the measures and increased funding for more significant ones .
Potential for learning or transfer
We propose two instruments: financing potential growth and compensating for costs already incurred.
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
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