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July 26, 2021

Incentives for small businesses: EUR 10,000 in non-reimbursable funds for those who want to open their first business

Starting yesterday, September 10, the entrepreneurs who want to start their first business can register online for the programme meant to stimulate the setting up and development of micro-company start-ups. They can benefit from EUR 10,000 in non-reimbursable funds, government guarantees for accessing loans, as well as tax exemptions.
The LLC-S (Limited Liability Company – Start-up) Programme entails financial support for any Romanian citizen that wants to open a business and that did not previously own one. The financial support consists of non-reimbursable funds that represent at most 50 per cent, but no more than EUR 10,000, of the total value of expenditures entailed by the business plan. The existence of co-financing sources has to be proven.
All those willing to open their first business can apply, irrespective of age. The programme had previously targeted only those younger than 35.
Apart from state funds, LLC-Ss also benefit, from the National Fund for the Guaranteeing of Loans for SMEs, from guarantees for the loans contracted in order to implement the business plans accepted by the Agency. The guarantee has a ceiling of at most 80 per cent of the value of the loan requested, within the limit of EUR 80,000.
At the same time, LLC-Ss will not have to pay social security contributions owed by employers for the incomes of 4 employees at most, employees hired on the basis of continuous employment contracts. Continuous employment entails the payment of contributions to the public pensions system and the rights entailed by the public pension system law are calculated on the basis of the average gross monthly salary for which the insured employee pays his individual social security contribution. The per-employee exemption is not offered for monthly salaries that surpass the level of the national average gross salary registered the previous year.
Likewise, any registration operations conducted at the Trade Registry Office are free of charge.
The financing of the programme that offers non-reimbursable funds will cover the setting up of at least 550 micro-enterprises per year in 2015-2020 and will come from the annual budget approved for the Energy, SMEs and Business Environment Ministry.

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