Thuringia allocates a 20 million euro fund for small businesses. - Thuringia is investing 20 million euros into small and medium-sized enterprises.
In a bid to support small and medium-sized enterprises (SMEs) facing economic challenges, the Ministry of Economy in Thuringia has announced the establishment of the Thuringia SME Fund II. This new fund aims to provide a means for companies to invest, even in the current uncertain economic climate.
The Thuringia SME Fund II is designed to address the reluctance of companies to invest due to the economic situation. Recent surveys indicate that many companies in the state are cautious about investments, and the economic situation has been identified as a significant factor contributing to this hesitancy.
The fund is intended to facilitate access to loans for companies, strengthen their equity capital, and ultimately, stimulate investment among those that are currently hesitant due to the economic climate. The minimum turnover requirement for companies to be eligible for the Thuringia SME Fund II is €2 million, and the eligibility criteria are based on both the age and turnover of the companies.
Established companies with a solid financial foundation are the primary target for the Thuringia SME Fund II. Companies must have been in operation for at least five years to be considered eligible. Initially, €20 million will be available in the fund.
The Thuringia SME Fund II is a second iteration of a similar fund, and it may encourage more companies to invest, potentially boosting the economy. The focus of the fund is on investing in SMEs, with the aim of making it easier for companies to invest.
Support for SMEs in Thuringia is not limited to the Thuringia SME Fund II. The region has a history of supporting SMEs through subsidies, funding applications, and innovation projects. EurA AG, a funding consultancy in Thuringia, provides support to SMEs with partner finding, R&D project development, and preparing funding applications.
For precise and current details on the Thuringia SME Fund II, including eligibility criteria and application procedures, direct contact with regional funding bodies such as EurA AG or the Thuringian economic development agencies is recommended.
The Commission has not yet adopted a decision on the application of the Regulation regarding the Thuringia SME Fund II, as it primarily focuses on investing in small and medium-sized enterprises (SMEs) within Thuringia's finance sphere, aiming to stimulate investments among those hesitant due to the economic climate. Despite the economic challenges, the Thuringia SME Fund II, with its minimum turnover requirement of €2 million, provides a means for established companies with a solid financial foundation to access loans, strengthen their equity capital, and ultimately invest.
