Cyprus SMEs can secure financial aid up to €10,000 to boost energy efficiency through the EENergy project, aiming to support at least 1,800 companies by May 15, 2024. The initiative, a collaboration between the Cyprus Chamber of Commerce & Industry and the Ministry of Energy, is a crucial step towards sustainable business practices, offering grants for investing in new technologies, advisory services, and employee training.
SMEs in Cyprus can seize up to €10,000 in grants through the EENergy project by enhancing energy efficiency by at least 5%. To apply, businesses must reach out to the Enterprise Europe Network and submit a proposal by May 15, 2024, adhering to specific eligibility criteria.
Cyprus commits €14.4 million to help SMEs embrace circular economy practices, supporting investments that boost sustainability and environmental impact. Eligible businesses can receive up to €400,000, excluding sectors like fishing and agriculture.
Cypriot SMEs can now apply for grants worth €400,000 under the “Circular Economy Project in SMEs” scheme, encouraging investments in sustainable practices. To qualify, SMEs must invest a minimum of €30,000, be located within the Republic of Cyprus, and adhere to circular economy principles, with funding cofinanced up to a maximum of 50%.
Alternative financing options for SMEs and startups in Cyprus, including stock exchange listing, are being highlighted by the Cyprus Chamber of Commerce and Industry on March 13, 2024, to aid in capital raising. Additionally, the National Betting Authority’s recent financial insights revealed that the Limassol casino has generated €421 million in revenue for the government.
Cyprus has launched a €1 million cybersecurity support scheme for SMEs, offering grants ranging from €20,000 to €60,000 to enhance their digital defenses and comply with cybersecurity standards. The initiative aims to protect the nation’s economic pillars, boost market competitiveness, and ensure consumer trust in the digital age.
