The government will invest 10 million NIS in aid to small businesses of reservists

The government will invest 10 million NIS in aid to small businesses of reservists

Director General of the Ministry of Economy and Industry, Amnon Merhav: “The State of Israel is committed to those who put aside their families and businesses and enlisted in the war, and we have the duty to mobilize now and give them all the necessary assistance both on the personal level and on the business level, so that businesses can return to activity and growth.”

The Agency for Small and Medium Businesses in the Ministry of Economy and Industry publishes a call for business entities to submit proposals for the development and operation of ventures, to assist small and medium businesses owned by men and women of the Reserves.

The agency will grant a total amount of NIS 10 million to business entities that will develop and operate projects to promote small and medium-sized businesses of reservists, and help them deal with the business damage caused to them as a result of the service.

Businesses owned by reserve men and women were significantly affected during this period, due to their unavailability to run the business and promote it. Even after the return to normal, these businesses are lagging behind those who were able to continue operating the business, recruit new customers and provide service to existing customers.
The program includes two aid tracks:
● Participation in the development costs of ventures that will provide solutions for small and medium-sized businesses, to deal with the difficulties created for them due to the reserve service, and the damage caused to their business and its operation as a result of the service.
● Service subsidy for small and medium businesses. Participation in the costs of providing the service, so that a reservist, owner of a small or medium business, can receive services that will promote his business at a subsidized cost.

The requested budget will be used for project expenses and cost coverage. The amount of assistance in a business venture will be at the rate of 35%-50% of the venture budget up to a total of half a million NIS.

The applications will be examined and approved according to the applicant's experience, the applicability of the business plan and its quality, the need for the venture and the proposed solution to the difficulties created for the businesses and the economic business potential, the agency's participation rate in relation to the total investment scope, the level of leverage and general impression.
The agency issued a similar appeal, for the first time during the Corona period, as part of the activity to help businesses deal with the Corona crisis, at which time 14 business ventures were launched which helped businesses in various fields, including targeted marketing, online trading, escorting and mentoring and more. as well as three financial projects that helped hundreds of businesses.

For more information about the program:

https://www.sba.org.il/hb/PolicyAndInformation/tenders/Pages/pr84.aspx

Photography: pexels

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