In a statement, the Secretariat for the Economy, headed by José Manuel Rodrigues (CDS), noted that this financial instrument is currently being developed and is expected to be operational by September.

It is aimed at “micro-enterprises facing difficulties in accessing EU programs and other existing support systems designed for small, medium, and large enterprises.”

The funding covers investments between €25,000 and €300,000, with support reaching up to 50%, plus an additional 10 percentage points for companies based in the north of the island and on Porto Santo.

The measure covers various economic sectors, the Secretariat for the Economy indicated, highlighting that for Porto Santo, there will be “specific support for the transport of raw materials to the island, aiming to mitigate rising raw material costs for the manufacturing industry, such as the baking sector.”

According to the Regional Secretariat, Madeira is home to approximately 36,000 micro-enterprises employing over 100,000 workers, representing 96% of the region’s business landscape.

These measures were presented today to Jorge Pisco, president of the Portuguese Confederation of Micro, Small, and Medium-Sized Enterprises (CPPME), during a meeting with José Manuel Rodrigues.