It was presented to companies during one of the latest webinars organised by Sabadell Companies Hub, the bank’s business training platform. According to WeGrant, more than 2,000 public grants are announced each year at national level, and more than 200 at European level, but only 8% of companies apply for them.
In one of the latest webinars of Sabadell Companies Hub, Banco Sabadell’s business training platform, in which the bank holds regular training sessions on various technological, legislative or macroeconomic developments that may affect companies in our country, the subject of Next Generation funding was addressed.
During the session, which was attended online by more than 1,300 people, the bank’s new public aid search engine was also presented, which was launched this February in conjunction with WeGrant, and through which it wants to facilitate any company the location and subsequent processing of any of the public grants that is usually called in Spain or at European level, and that only 8% of companies request.
According to the bank’s specialists during the session, “the percentage of companies in Europe that take advantage of this type of subsidy is higher than in Spain. This is largely due to a systemic problem. Studies show that many companies do not understand the bulletins in which grants are announced, do not know how to apply, and also find it time-consuming to keep track of all the grants that are announced. As a result, they miss out on many opportunities to finance their projects”. 30% of the grant is targeted at the Industry, Trade and Tourism sectors. At the time of the seminar, €6 billion worth of aid was available in these sectors alone.
Next Generation Funds
With regard to the Next Generation Funds, the specialists from Banco Sabadell and WeGrant consider that the governmental entities are providing correct information. They detect, however, that in many cases entrepreneurs do not apply for grants because they see a significant time gap between when the grant is granted and when it is finally paid out. And those that have applied will not start their projects until they actually receive the money. To sum up, companies currently have enormous financing possibilities at their disposal, but public authorities are having problems getting it to its end recipients.
A new aid search engine, available to all companies
To help alleviate this problem – which, among other consequences, directly affects the speed with which companies implement their decarbonisation or digitalisation projects –Banco Sabadell has launched a grant search engine (available at https://ayudasempresas.tufinanziacion.com/) with the following functionalities:
- Grant finder
- Diagnosis so that the company can know (by means of an automatic process, which gives an instantaneous response) the percentage of possibility that this grant will be granted
- Consultancy and advisory service to manage grants and financing for each business project. Help with processing by a specialist.
Banco de Sabadell offers different financing solutions depending on the client’s needs to complete the execution of their project, from the loan for co-financing as well as the advance of the subsidy or the guarantee before the public administration if the project requires this additional guarantee.
Users also receive a weekly newsletter with all the new public subsidies announced for companies in their economic sector.
The complete session, as well as all the sessions organised by Sabadell Companies Hub, can be viewed at the following link. https://hubempresa.bancsabadell.com/
