The Regional Secretary for the Economy, José Manuel Rodrigues, has announced a new incentive scheme specifically targeting micro-enterprises. This financial instrument, currently being drafted, aims to support investments ranging from €25,000 to €300,000, with grants covering up to 60% of eligible costs.
The initiative seeks to address the challenges micro-enterprises face in accessing existing European funding and support mechanisms, often designed for larger businesses. The program will cover a wide array of economic sectors.
Eligible projects will receive grants of up to 50% of investment costs, rising to 60% for businesses on Madeira's north coast and Porto Santo island. The scheme is expected to launch in September. Additional support for Porto Santo businesses, including transport assistance for raw materials, was also announced.
