The total amount of the measures approved by the Council is 455.5 million euros, of which 95.8 million euros will correspond to the Enisa Public Company, responsible for accompanying technology-based entrepreneurs in the early stages of the company's life.

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Another 50 million euros have been allocated to Fund for the Internationalization of Business (FIEM) and, the largest amount, 307 million euros have been allocated to Energy Efficiency Grants Program managed by the Institute for Diversification and Energy Saving (IDAE), under the Ministry for Ecological Transition.

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This public aid package for startups and SMEs has been designed to eliminate obstacles to the growth and internationalization of Spanish companies, placing special emphasis on those that do so in a sustainable and balanced way. From the Government, they believe that these are key aspects that will help improve the productivity and competitiveness of the Spanish business fabric.

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During the announcement of the grants, the Minister of Industry, Trade and Tourism, Reyes Maroto, also took the opportunity to explain the need to modernize the tax system in digital sectors in order to strengthen the Welfare State system. Maroto believes that our tax system still has important loopholes that need to be solved and that, in particular, the digital services sector and tourist housing are the ones that are most affected by them, since nothing is being collected for their economic activity. In this regard, he has stated that the Government has a clear plan to address these issues systematically over the coming months, in order to modernize the tax system in accordance with a society that is constantly changing.

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‍More about ENISA

‍ENISA is a national entity attached to the Ministry of Industry, Trade and Tourism, through the General Directorate of Small and Medium Enterprise Industry. It has been operating since 1982 and is actively involved in the financial promotion of Spanish startups and SMEs for the development of viable and scalable innovative projects.

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‍During 2018, ENISA approved 534 applications, mobilizing capital of 74.5 million euros. If we do more introspection, throughout ENISA's historical activity, the bank has enabled more than 5,900 loans for a total amount exceeding 910 million euros.

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‍I am a startup or SME, am I interested in ENISA?

‍ENISA offers loans for small and medium-sized companies that are taking off and need more liquidity to grow their business. It is an ideal instrument for balancing the company's funds since it allows “equalizing” the funds obtained by external capital increases in the form of non-dilutive loans for the company.

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‍Enisa has 3 lines of funding for entrepreneurs:

• ENISA Young Entrepreneurs (Up to 75,000 euros)
• ENISA Entrepreneurs (Up to 300,000 euros)
• ENISA Growth (Up to 1.5 Million Euros)

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More: ENISA advances its funding lines to the first third of the year

‍Source: Cinco Dias