The package of measures announced by the Minister for National Economy consists of two main pillars: a new investment subsidy for SMEs and an export-promoting loan program. Minister Nagy emphasized the need to build a targeted investment support system for SMEs, similar to the VIP Cash Grant program that supports large investments.
What can be expected from such a new SME VIP Cash Grant program, and what could be its key advantages?
- Non-repayable subsidy for the SME sector, which could be available for small enterprises at a rate of 50-80%, and for medium-sized enterprises at a rate of 40-70%, depending on the location of the investment.
- Subsidy available for land purchase, building of own property, new facilities, and capacity expansion investments.
- Grant could also be available for the purchase of machinery, equipment, and software.
- The investment subsidy can be combined with a supported loan.
- Compared to the usual EU co-financed programs, a clearer, simpler, and more flexible system with more practical rules.
Loan Program
If the program successfully combines the strengths of the currently popular VIP Cash Grant and the needs of the SME sector, it could provide a tremendous boost for domestic businesses.
We will provide detailed information about the specific rules of the SME VIP Cash Grant program after its official launch.
