MIG finances 1,100 family companies with 114 million leva

The Ministry of Innovation and Growth (MIG) finances nearly 1,100 family companies and those from the creative industries and crafts with 114 million leva for their development. They were approved under a procedure for supporting production capacity under the Competitiveness and Innovation in Enterprises Program (CIEP).

These are micro, small and medium-sized companies, with the largest number of family companies – 904. The companies proposed for financing from the creative industries are 152, and from the crafts sector – 37. Among them are manufacturers of confectionery and sugar products, bottling companies, copy centers, dental practices, furniture companies, printing houses, tailoring studios, woodcarvers, potters, locksmiths, etc. Depending on their type and size, they will receive between BGN 15,000 and BGN 150,000 for new machinery, facilities, equipment, tools and specialized software. The aim is to become more competitive and improve their market performance.

A total of 2,767 enterprises applied for the measure to support production capacity. The funding they requested was nearly BGN 273 million, which is more than twice the budget of BGN 117.5 million. Due to the great interest in the measure, the Managing Authority of the CIEP has taken action to provide additional funding to companies from the reserve lists.