A good idea can be the pillar to start building a business. However, to achieve the stability that every business owner is looking for, there are many more things that need to be taken into consideration. The capital is most certainly one of them.
Without proper capital or the ability for funding, most ideas stay in "the box" and never get turned into businesses. And that is true not just for enterprises. There are many people out there, with bright ideas in various fields and no way to make them come true.
EU funding is certainly a great way to get the funds you need for your business or your idea. Many different stakeholders can be eligible for EU funding, in various different fields. In this article, we are going to present you with the entities that are eligible for EU funding as well as the criteria they need to meet!
Who is eligible?
1. Micro, small and medium-sized enterprises (SMEs)
Criteria for Micro-enterprises:
- Must employee less than 10 employees.
- Must have an annual turnover or balance sheet that is less than 2 million euros.
Criteria for Small enterprises:
- Must employee less than 50 employees.
- Must have an annual turnover or balance sheet that is less than 10 million euros.
Criteria for Medium-sized enterprises:
- Must employee less than 250 employees
- Must have an annual turnover of fewer than 50 million euros or a balance sheet of fewer than 43 million euros.
2. NGOs
NGOs or Non-governmental and civil society non-profit organizations are eligible for EU funding as long as their areas of activities only relate to EU policies.
3. Young People
There are specific programmes that are included in the EU budget, focusing on assisting and supporting young people in their effort to gain work experience or to study abroad. Adding to that, there are certain EU programmes focused on supporting unemployed young men and women, thus giving them the opportunity to increase and improve their skills and competencies.
Criteria for this funding:
- From the age of 13 to the age of 31
- Must be part of youth organizations
- Other stakeholders that are working with young people could be eligible.
4. Researchers
The EU has many strategies for many different fields. One of these strategies focuses on research and innovation. As a result, there are a plethora of different programmes offering to fund researchers in various areas.
Europe’s principal funding on research and innovation is the Horizon 2020 programme. Horizon 2020 supports hundreds of research every year, in numerous fields, carried out by organizations or individuals.
5. Farmers
The common agricultural policy (CAP) is aimed at helping farmers and land managers by providing them with the ability to receive direct payments.
As a farmer or a land manager, you must comply with the specific requirements in the areas of public, animal and plant health, environment and animal welfare. This particular funding is channelled through the relevant national authorities of each country.
6. Public bodies
Public bodies can be national, regional or local. They all can be eligible for funding as well as investments that will support the development of institutional capacity and efficiency as well as local infrastructure projects!
If you are a part of any of the cathegories mentioned above then you are eligible for EU finding. Whether you are interested in funding your business or be a part of an EU projects focused on research and innovation, you can find the right funding opportunity for you!
