As announced earlier this week by the President of the Madrid Region, Isabel Díaz Ayuso, during her institutional trip to New York City (United States), the Governing Council today approved the regulatory framework for this initiative from the Regional Ministry of Economy, Finance and Employment. The program establishes that beneficiaries must carry out their activities in the region and have been in existence for at least three years. In addition, they must submit a detailed business plan for the development of their company, including the actions and eligible expenses to be subsidized.
The regional government of Madrid Region will finance the hiring of new staff; expansion or renovation works for business premises; the relocation or opening of new establishments; the purchase and installation of equipment, machinery, and furniture—including IT equipment and software—or costs associated with the acquisition of or merger with another company in order to expand. The activities must have been carried out within the 12 months prior to the application or after the grant has been awarded.
With measures such as this, the Madrid Region strengthens its position as a favorable environment for entrepreneurship. This is reflected in the number of self-employed workers recorded in February, which has reached nearly 440,000—the third highest figure in the entire historical series and the best result for that month. The regulatory guidelines for the call for applications will be published shortly in the Boletín Oficial de la Comunidad de Madrid (Official Gazette of the Madrid Region).