Funding for Young Entrepreneurs
Grant for expenses related to company start-ups and takeovers in Vorarlberg (10% of eligible costs, maximum assessment basis €50,000), applications possible at any time via the house bank.
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Grant criteria
Funding objective
Funding of expenses related to business startups and acquisitions, in particular the paid acquisition of fixed assets, renovations and modernizations, repayment or assumption of loan obligations, and inventory.
Eligible expenses
- Acquisition of fixed assets for consideration
- Costs for job-specific software licenses
- Conversions, renewals, modernizations, and rationalizations
- Expenses for redemption or assumption of loan obligations
- Acquisition of raw materials, auxiliary materials, and operating supplies (inventory)
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Non-eligible expenses
- All types of passenger cars
- Costs of the tax advisor
- Annuities
- Redemption of customer base/goodwill
- Training and further education costs
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Eligible to apply
- Companies
- Founders
Funding requirements
- Membership in the Vorarlberg Chamber of Commerce
- First-time full-time self-employed commercial activity (at least 80%)
- Start of activity no longer than one year before application
- No economic self-employment in the five years prior to founding/takeover
Documents required for application
- Project description
- Cost estimates or cost approximations
- Confirmation from the Regional Health Insurance Fund (ÖGK) regarding previous non-self-employed activity
- Proof of trade license
- Credit assessment statement from the bank
- Proof of utilization of possible federal funding
Description
Funding for Young Entrepreneurs in Vorarlberg
The funding is aimed at natural persons and partnerships/limited liability companies who, as members of the Vorarlberg Chamber of Commerce, are establishing or taking over a predominantly full-time (at least 80%) self-employed commercial enterprise for the first time, and whose activity has not been ongoing for more than one year. The program’s objective is to support start-up and takeover expenses within 12 months from the date of application. Eligible expenses include, among others, the paid acquisition of fixed assets, profession-specific software licenses, as well as conversions, renewals, and modernizations. The acquisition of raw, auxiliary, and operating materials for inventory, as well as expenses for buyouts or assumption of loan obligations, are also subsidized.
Funding Conditions and Application Procedure
The funding is provided as a one-time grant amounting to 10% of the recognized eligible costs, based on a maximum assessment basis of €50,000, with a minimum amount of €10,000. Excluded from funding are, among others, passenger cars, tax consultancy fees, annuities, training and further education costs, as well as real estate acquisition. Applications can be submitted at any time through the applicant’s primary bank. Required documents include a project description, cost estimates or quotations, a confirmation from the regional health insurance fund regarding previous non-self-employed activity, proof of trade authorization, a credit assessment statement from the bank, and proof of any federal funding. Disbursement takes place upon submission of the relevant billing documents or a final account and a confirmation of proper use.
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