SUPPORT TO SMALL AND MEDIUM-SIZED ENTERPRISES
Through IFU, Danish small and medium-sized enterprises can obtain financial support for preparation and start of projects when setting up business in developing countries and growth markets
Small and medium-sized enterprises form a large part of Danish industry, but these companies often lack the necessary resources to make investments in difficult markets. Consequently, Danida and IFU have established an SME facility which can support the individual company in the preparation and implementation of projects in developing countries.
Financial support can be obtained for e.g. preparation of a business strategy, organisational and managerial development, feasibility studies, recruitment, environmental studies, training; and implementation of CSR initiatives.
What is an SME?
The facility is for small and medium-sized Danish enterprises. These are defined as companies with:
- Less than 250 employees
- A turnover of less than EUR 50m or a balance of less than EUR 43m
The maximum amount for a single project is DKK 1.5m divided in two with DKK 750,000 for the preparatory phase and for the start-up phase, respectively. The support is granted as a supplement to the company’s own investment and can only cover up to 50 per cent of the actual costs and 25 per cent of the total investment.
Approval by IFU
The facility is an integrated part of IFU’s work with investments in developing countries. Accordingly, Danish SMEs wishing to apply for support must be approved in accordance with IFU’s normal appraisal procedures focussing on the financial sustainability and contribution to the development in the investment country.
How to apply?
Contact Investment Director Ib Albertsen or Investment Manager Nina Marboe for further information.