By John Smith • 21 December 2020 • 19:00
One of the shops that benefitted
Credit: Palma Council
PALMAACTIVA has invested €78,711.22 out of a €100,000 budget to help subsidise 46 establishments this year thanks to the City Council’s aid for small businesses.
Subsidies for small businesses are a line of direct aid that covers up to 80 per cent of the costs of local trade to a maximum of €2,300 per establishment, provided the money is intended for innovation, improvement, modernisation or the establishment of new businesses.
Rodrigo Romero, Councillor for Economic Promotion and Employment said “This is the first time that the budget has not been exhausted. The call came out in February and due to the pandemic, some establishments did not make all the planned investments.”
According to Romero, next year there will be a new invitation to apply for these grants, which will be the sixth consecutive year that this assistance has been made available.
He observed that “This year, requests included ideas that could help deal with the pandemic such as websites, screens, POS, hydro-alcohol dispensers and for 2021 they will review the rules and may possibly subsidise CO2 meters and other elements to deal with tackling Covid-19 “.
Thank you for taking the time to read this news article “Small businesses in Palma receive financial assistance for innovation”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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