In May, grant and bridge support agreements were signed with participants from the last group of people applying for funds to start a business. The business plan competition consisted of four rounds, each with its own group of participants. The savings generated allowed for two additional grants to be awarded. This resulted in the creation of 67 sole proprietorships, instead of the planned 65. Funding was awarded to 39 women and 28 men. From the moment of registration and commencement of business, participants must maintain their businesses for at least 12 months to avoid repaying the awarded funds.
During the course of running their businesses, participants are entitled to additional, individual counseling to support them in the event of difficulties or problems related to running their business. Participants can benefit from advice on legal, accounting, and online marketing matters. Participants must spend the grants within three months of launching their business, after which they are obligated to settle the funds received. In the second half of the year, we will begin monitoring visits to our entrepreneurs. The purpose of these visits is to verify that the businesses established with the grant funds are being run and that the funds received have been properly spent.
