SANTA CRUZ DE TENERIFE, 1st October (EUROPA PRESS) –
The Cabildo of Tenerife will allocate 370,000 euros to enhance the competitiveness of commerce in Tenerife via a set of grants targeted at business associations, federations, or confederations on the island.
The Minister for Commerce and Business Support, Krysten Martín, stated in a release that “this initiative aims to bolster projects that enhance competitiveness, foster innovation, and encourage business collaboration within the commerce, restaurant, or personal services sectors, whilst continuing to promote business associations and giving priority to projects that primarily benefit self-employed individuals and micro-SMEs.
The initial allocation for this assistance, which falls under the Strategic Subsidy Plan for the current fiscal year, is set at 320,000 euros, with the possibility of increasing it to 370,000 euros.
The types of initiatives eligible for this funding should focus on improvements in business management or the application of Sustainable Development Goals in the daily operations of the company.
Regarding participation numbers, projects must target a minimum of 20 self-employed individuals or businesses, with at least 70% participating in all activities undertaken.
The maximum funding available per project will be capped at 50,000 euros.
Krysten Martín highlighted that “this initiative corresponds with our aim of reinforcing and bolstering the commercial structure of Tenerife, where enhancing competitiveness through innovation and collaboration is a crucial factor”.
