Applications are open for the new Incentive System for Sustainable and Integrated Investment – Construir 2030, announced the Regional Secretary for Finance, Planning, and Public Administration of the Government of the Azores.

According to Duarte Freitas, the first application notice already published concerns the “innovative and unbureaucratic” support line, which takes the name of “Small Business” and is intended for eligible investments of 50 thousand euros and a maximum non-refundable incentive of 35 thousand euros.

All those interested in making their investment can access a simulator on the site:  https://empresas.azores.gov.pt/construir2030 that frames which subsystem according to the options chosen.

This newness presented by Duarte is a tool that allows the entrepreneur or future entrepreneur to know which subsystem or subsystems he can apply for by filling in a few fields.

The Regional Secretary for Finance, Planning, and Public Administration also presented the new Entrepreneur Support Line.

Entrepreneurs and future entrepreneurs will be able to call free of charge through 800 257 257 and have a personalized service given by “competent technicians” in the different matters of the Regional Directorate for Entrepreneurship and Competitiveness (DREC) and the Integrated Entrepreneur Support Network (RIAE).

“This line aims to be another instrument of debureaucratization to respond more quickly to entrepreneurs’ doubts, ” said Secretary Duarte Freitas.

Construir 2030 is divided into four subsystems “designed and thought for the current regional socioeconomic situation”. They are:

– Structuring Business for investments of more than 50 thousand euros and a maximum support amount of 7 million

– “Local Economic Base” for a minimum investment of more than 50 thousand euros and a maximum amount of 4 million euros of support;

– “Young Investor,” which will allow a maximum incentive of €245,000 to people aged between 18 and 40;

– “Small Business” is dedicated to micro and small enterprises with a minimum investment limit equal to or greater than 5 thousand euros.

This news story is from Diário Insular, José Lourenço, director.

It was translated to English as a community outreach program from the Portuguese Beyond Borders Institute (PBBI) and the Modern and Classical Languages and Cultures Department (MCLL) as part of Bruma Publication and ADMA (Azores-Diaspora Medial Alliance)  at California State University, Fresno.