Business Partnership Support can now be used to develop existing business
October 12th, 2022
Finnpartnership’s grant support, Business Partnership Support, can now also be utilized to develop existing business in a developing country. A new project phase, “development of existing business”, enables companies to deepen or continue their long-term commitment in their target country.
Here are some key points:
- To be able to apply support for the new project phase, the applicant must attach a registration certificate of a company established in the project country, or a cooperation agreement (e.g. subcontracting agreement) concluded with a developing country partner
- The support may be applied through the company registered in Finland (if it has at least 20 % Finnish ownership), or through the Finnish parent company (if the parent company is a direct financial beneficiary of the project)
- The support applicant must have valid Suomi.fi credentials. Companies registered abroad can find instructions for acquiring these credentials from the website of the Digital and Population Data Services Agency.
- The support is granted for expenses that will be accrued by the support recipient (Finnish/Finnish owned company). Therefore, the support cannot be used to cover the expenses of business partners
- Support for the new project phase may be applied for even if the project has not previously utilized Business Partnership Support
- If Business Partnership Support has been used for the earlier phases of the project, the earlier instances of the Support are counted towards the project specific maximum quota (200 000 € for de minimis projects / 400 000 € for non-de minimis projects)
- The support can be used to cover assessment or training expenses related to one or more of the following:
- a. expansion of a product portfolio
- b. finding new suppliers and
- c. subcontracting and similar partners
- d. development of activities so they are easier to scale
- e. determining investment needs and their funding
- f. improvement/development of working conditions
- g. development activities so they are more responsible.
The support cannot be used for e.g., investments, product development or recruitment costs.
- Please see the terms and conditions of Business Partnership Support For more specific information on the criteria of the new project phase