ECONOMY FINANCE&BANKING

Government approves GEO to stimulate creation of small and medium enterprises

The Government has approved, in the meeting on Friday an emergency ordinance in order to stimulate the creation of new small and medium enterprises.

According to a release of the Executive, this programme, titled “Start-up Nation – Romania,” is designed to grant a minimis aid which stands at a maximum amount of 200,000 lei for a beneficiary, representing 100 percent of the eligible expenses value, to a maximum estimated number of 10,000 small and medium enterprises.

“Therefore it is estimated that a minimum 20,000 new jobs will be created, annually, within the 10,000 enterprises newly created, that will have to employ minimum 2 workers with a work contract of indefinite duration and to maintain the worker in labour at least 3 years,” the release points out.

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