ON – Beyond New interest-free businesses
Among the various incentives in favor of SMEs, the MISE has provided for the measure ON – Beyond New Enterprises at zero interest, aimed at supporting micro and small enterprises composed mainly or entirely of young people between 18 and 35 years of age, or of women of every age.
ON funds projects that aim to start new businesses or expand, diversify or transform existing businesses in the manufacturing, services, trade and tourism sectors.
ON, as mentioned above, is aimed at all those micro-enterprises and SMEs (partnerships or corporations) established within the 5 years preceding the application, which are composed in the majority (51%, therefore) of young people within the age of 35 years or by women of any age.
The majority, however (women and/or young people), must exist both in relation to the members present in the shareholding structure and to the share capital held.
To better understand the participation requirements, we refer you to the scheme prepared by Invitalia at point 4 of the FAQ (to access, click here)
Individuals can also apply for a loan, as long as they undertake to set up the company following any admission to the facilities.
What are the benefits?
The concessions provide for both a zero-interest loan (to be repaid in 10 years), and non-repayable grants, which cover up to 90% of total eligible expenses, to implement new initiatives or expand, diversify or transform existing activities, with expenses up to 1.5 or 3 million euros, depending on the “life” years of the company.
ON, in fact, provides for two lines of financing with different spending programs and aid schemes, depending on whether the companies have been established for no more than 3 years or for at least 3 and no more than 5 years.
Companies established no more than three years ago
Companies established no more than 3 years old can present investment projects up to 1.5 million euros to carry out new initiatives or develop existing activities in the manufacturing, services, trade and tourism sectors.
The coverage of eligible expenses can reach 90% to be repaid in 10 years and consists of a mix of zero-interest financing and non-repayable contribution that cannot exceed the limit of 20% of eligible expenditure.
Businesses can also apply for a contribution to cover the working capital needs related to the expenses for raw materials and services necessary for carrying out the business activity. The contribution can reach up to 20% of the investment costs.
Eligible expenses include:
• Masonry and similar works (30% eligible investment);
• Machinery, plants and equipment;
• IT programs and services for ICT;
• Patents, licenses and trademarks;
• Specialist consultancy (5% eligible investment);
• Expenses related to the stipulation of the loan agreement;
• Expenses for setting up the company;
Companies established for at least 3 years and no more than 5
Companies established for more than 3 years, on the other hand, can present projects involving investment expenses of up to 3 million euros, to implement new initiatives or expand, diversify or transform existing activities, in the manufacturing, services, trade and tourism sectors.
The concessions consist, as in the first case, in a mix of zero-interest and non-repayable financing, which cannot exceed the limit of 15% of eligible expenditure.
Among the expenses admitted to the concessions are:
• Purchase of properties only in the tourism sector (40% eligible investment)
• Masonry and similar works (30% eligible investment)
• Machinery, plant and equipment
• Computer programs
• Patents, licenses and trademarks.
How to submit the application
Applications can be submitted exclusively online, through the Invitalia web platform by clicking here.
To request the benefits it is necessary:
• be in possession of a SPID identity to access the dedicated platform;
• access the reserved area using the SPID identity to fill out the application directly online, upload the business plan and attachments.
The measure is at the counter: this means that applications are examined according to the order of arrival and there are no rankings or deadlines.
To date, 583 initiatives have been funded, for a total of 132 million euros allocated to young people and women. Resources of around € 16 million are still available.
The importance of legal support
Applying for access to an incentive, especially for new entrepreneurs, can prove to be a difficult obstacle to overcome.
Our advice, especially in the early stages, is to rely on serious, qualified professionals with proven experience in business consultancy, who will guide you with confidence in choosing the safest financing methods and in line with your commercial strategy.
Our Firm, thanks to the expertise and experience in consulting and assistance to SMEs, both in the legal and commercial and corporate fields:
- provides all entrepreneurs interested in creating their own start-up or defining an optimal business strategy, advice and specific assistance in bureaucratic and commercial practices;
- assists its customers in the market analysis phase, in the preparation of the business plan and in the search for the economic resources necessary to finance the start-up;
- supports the company at every stage of development, recommending the best commercial and legal strategies to be implemented, and assists you from the stage of preparation of the application, up to the granting of incentives..
Contact us immediately at the numbers +39 0683521985 or +39 3711453121, or write to us at email@example.com for specific advice.