The Governing Council has authorized this allocation, as well as a collaboration agreement with the Madrid Chamber of Commerce, which will be responsible for managing these subsidies.
With this initiative, a first of its kind in Spain, up to 50% of the investment required for the expansion of these companies will be covered, provided they have been operating for at least three years and carry out their activity in the region. Among other actions, funding will be available for hiring staff, expansion or renovation works on premises, the opening of new establishments, and the purchase of machinery or software.
As a new feature in the management process, and with the aim of simplifying procedures and ensuring liquidity for these businesses, applications for less than €70,000 will be paid in a single installment covering 100% of the grant upon approval, without subsequent monitoring evaluations.
To ensure the effective allocation of these funds, the Madrid Chamber of Commerce will act as the managing entity, handling the receipt of applications, the verification of business plans, and the monitoring of investments.
With this measure, the regional government strengthens its position as the most favorable environment for entrepreneurship in Spain. Madrid currently has 441,542 self-employed workers, the highest figure on record.