EU Funding for business venture

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Weegie
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EU Funding for business venture

Postby Weegie » Mon Jan 15, 2007 5:12 pm

Hi ,
We hope to move to Silistra in the late summer , and we are starting to look for employment possibilities , i have a business idea , that is in the entertainment side of things and would involve the re-furbishment of a dis-used factory and would employ 25 people ( at least ) full-time .
Can anyone give me some advice on the applications for local /EU funding for this type of business . Would it be best to use a Bg representative whilst i am still here in UK ? Is it worth it , or are there barriers put in place because of nationality etc ? Any comments or advice gratefully received . 8-[

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leedarkwood
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Postby leedarkwood » Mon Jan 15, 2007 5:19 pm

I doubt as yet if anyone knows the answers. I would wait until I got there myself and meanwhile keep an eye on the online Bulgarian newspapers for news items about grants.

Lee

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Eu Funding

Postby netsniper » Mon Jan 15, 2007 5:25 pm

Hiya and welcome, that a very difficult question to answer, I am sure you will get some answers on here but have you tried contacting the British embassy in Sofia they have a section on Trade and investment both in the UK and BG hope that helps ?

Netsniper :D

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scot47
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Postby scot47 » Mon Jan 15, 2007 5:58 pm

If you do not speak, read and write Bulgarian you will need a partner or someone to work with.

You CANNOT do things knowing only English and without local contacts.

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Postby chunky002 » Mon Jan 15, 2007 6:19 pm

Scots correct

Very difficult getting an EU Grant without some contacts as well in Sofia.

Also a good business plan is a must.

If your business is going to be in a high unemployment area that will also help you.

Good luck with your venture

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Mat
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Postby Mat » Mon Jan 15, 2007 7:25 pm

Accessing EU grant funding for the private sector is far from easy, is limited due to de minimis rules of state aid, must be completed in the Bulgarian language, is extremely bureaucratic to both apply for and manage and is thus far subject to the expected bribery and 'close contacts'. On the other hand, you can (in theory) get up to 85% of the costs covered if the activity is within the objectives of the state and there are very few ideas compared to the funds available. Its early days and I wouldn't bother applying this year as the systems are yet to be established. Don't apply if you need the money fast. Certainly don't bother to apply from the UK and certainly do use a local consultancy company to prepare your bid and grease the wheels - should cost 7-10% of the project budget (which you can include under preparation costs) or more if there is bribery involved.

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Weegie
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Postby Weegie » Mon Jan 15, 2007 7:37 pm

Thanks guys , some good advice there , i think that i'll wait until later in the year at least ,once we've moved over it'll be a bit easier to grease the wheels . 8)

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Postby Pelican » Tue Jan 16, 2007 9:51 am

Hi Weegie, Welcome to Silistra. :)

We live just outside Silistra and have made many friends and contacts in the local business community, including many who work closely with the City Hall and a couple who work for the Municipality.

We are currently applying for EU funding for a cross border cooperation programme based around tourism. Of course we are doing this in collaboration with Bulgarian partners.

I can certainly introduce you to contacts who can assist you with your project proposal in this region.

I have also been in negotiations with developers here to apply for EU money for other projects and they have suggested using friends of theirs who work as funding application consultants in Sofia. We could hook you up with them if you thought that may be helpful.

Please check out the 'Silistra Alliance' thread in 'My Place'.

Speak soon.

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Abz
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EU Funding

Postby Abz » Wed Jan 24, 2007 12:20 pm

Weegie
Don't be put off, there is EU funding available. Yes the EU don't just give it away and you have to have a properly presented project, but there is money for projects in this area, for example for the develpment of rural tourism. Yes you'll have to be in Bulgaria and you'll need a Bulgarian speaker to work with you.
You won't get much help from the Brisith Embassy in Sofia, at the moment, they don'y really have much information, we've tried that one.
Send me a PM if you'd like more information.

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Mat
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Re: EU Funding

Postby Mat » Wed Jan 24, 2007 12:36 pm

Abz wrote:Weegie
Yes the EU don't just give it away .


Exactly. The Bulgarian government give away the money from the EU, which has no involvement in the whole process. Therein lies your first problem. Still, worth starting to think of ideas as these things tend to have a long gestation time.


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