Entrepreneurship in rural areas is hampered by the high risk associated with small markets, the lack of capital and insufficient access to business development and advice. The small business sector in rural areas faces additional territorial barriers related to the lower purchasing power of the local population and stagnation of the rural economy. Support for start-up investment and the development of existing micro-enterprises is an important tool for improving the competitiveness and employment potential of the rural economy. This support will favor rural development by creating more and better jobs by helping to diversify the rural economy of the country that is currently heavily dependent on agriculture. The project proposal envisages the construction of a workshop for the production of metal products, which are intended for the existing livestock farms, such as silos, fodder mills, weighing scales, etc. For this purpose, modern machines will be purchased with the help of high quality metal products. The Applicant "Galabovi VET" Ltd. has embarked on a strategy of growth and diversification where the organization enters a relatively new market and offers services other than current ones. The benefits of diversification are related to independence and the possibility of lowering total maintenance costs.
Overview
Status | Contracted |
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Start date | 08 Oct, 2020 |
End date | 08 Oct, 2022 |
Contract date | 08 Oct, 2020 |
Programme
Beneficiary
Financial information
Total cost | 698,383.60 |
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Grant | 349,191.80 |
Self finance | 349,191.80 |
Total paid | 0.00 |
EU participation percent | 85.0% |
Location