How can SMEs benefit from the RRP and the fifth check for 2.9 billion euros?
Portugal continues to make progress in implementing the Recovery and Resilience Plan (RRP) with the arrival of a further 2.9 billion euros from the European Commission. This funding, part of the Next Generation EU program, represents another significant step in the country's economic recovery and the promotion of a greener, more digital, and resilient economy.
How can SMEs benefit from the RRP and the fifth check for 2.9 billion euros?
Portugal continues to make progress in implementing the Recovery and Resilience Plan (RRP) with the arrival of a further 2.9 billion euros from the European Commission. This funding, part of the Next Generation EU program, represents another significant step in the country's economic recovery and the promotion of a greener, more digital, and resilient economy.
In a statement, the Ministry of Cohesion said that “the disbursement of this request is the highest to date and puts the European Commission's disbursement rate above 50%”. The execution rate of this RRP is currently 32%, while Portugal has already submitted the 6th payment request.
This incentive covers various areas such as capital markets, energy efficiency, waste management, tax simplification, interventions in the housing stock, capitalization of companies, and digitalization, among others.
What is the PRR and who can benefit from it?
But what does this support mean for small and medium-sized enterprises (SMEs)? How can they benefit and take advantage of these funds? The PRR is a strategic plan that includes reforms and investments in key areas for the country's development. SMEs, which represent more than 99% of the Portuguese business fabric, are key players in this transformation and can benefit directly through:
- Incentives for digitalization: Financing for the implementation of digital technologies that increase the competitiveness and efficiency of companies.
- Support for energy transition: Lines of support to improve energy efficiency, reduce operating costs, and adopt more sustainable practices.
- Training and qualification programs: Investment in training workers and managers to face the challenges of the modern economy.
Advantages for SMEs
- Greater competitiveness: Access to funds for technological modernization makes it possible to increase efficiency and better position themselves in the market.
- Cost reduction: Adopting energy efficiency measures can reduce operating expenses, increasing the profit margin.
- Market opportunities: Companies that invest in digitalization and sustainability are better prepared to respond to the demands of customers and international markets.
- Support for innovation: The PRR includes mechanisms to support innovative projects, and promote new products, services, and processes.
Examples of initiatives approved under the RRP
In recent years, several SMEs have benefited from direct support from the RRP:
- Industrial companies that have implemented more efficient and sustainable production systems.
- Businesses in the service sector have digitized operations, from marketing to customer management.
- Technology start-ups that have received funding to develop innovative solutions.
Will SME still be able to benefit?
With the transfer of a further 2.9 billion euros, opportunities for SMEs are more accessible than ever. However, the funds are limited and distributed on a competitive basis. Acting quickly, preparing applications, and investing in projects with a real impact is essential if you don't want to miss out on these opportunities.
Ana Silva
30.01.2025
All rights reserved. This article is protected by copyright and may not be reproduced, distributed, transmitted or used, in whole or in part, without the prior written permission of Equações Exaustivas Lda. All trademarks, company names, logos and products mentioned are the property of their respective owners.
In a statement, the Ministry of Cohesion said that “the disbursement of this request is the highest to date and puts the European Commission's disbursement rate above 50%”. The execution rate of this RRP is currently 32%, while Portugal has already submitted the 6th payment request.
This incentive covers various areas such as capital markets, energy efficiency, waste management, tax simplification, interventions in the housing stock, capitalization of companies, and digitalization, among others.
What is the PRR and who can benefit from it?
But what does this support mean for small and medium-sized enterprises (SMEs)? How can they benefit and take advantage of these funds? The PRR is a strategic plan that includes reforms and investments in key areas for the country's development. SMEs, which represent more than 99% of the Portuguese business fabric, are key players in this transformation and can benefit directly through:
- Incentives for digitalization: Financing for the implementation of digital technologies that increase the competitiveness and efficiency of companies.
- Support for energy transition: Lines of support to improve energy efficiency, reduce operating costs, and adopt more sustainable practices.
- Training and qualification programs: Investment in training workers and managers to face the challenges of the modern economy.
Advantages for SMEs
- Greater competitiveness: Access to funds for technological modernization makes it possible to increase efficiency and better position themselves in the market.
- Cost reduction: Adopting energy efficiency measures can reduce operating expenses, increasing the profit margin.
- Market opportunities: Companies that invest in digitalization and sustainability are better prepared to respond to the demands of customers and international markets.
- Support for innovation: The PRR includes mechanisms to support innovative projects, and promote new products, services, and processes.
Examples of initiatives approved under the RRP
In recent years, several SMEs have benefited from direct support from the RRP:
- Industrial companies that have implemented more efficient and sustainable production systems.
- Businesses in the service sector have digitized operations, from marketing to customer management.
- Technology start-ups that have received funding to develop innovative solutions.
Will SME still be able to benefit?
With the transfer of a further 2.9 billion euros, opportunities for SMEs are more accessible than ever. However, the funds are limited and distributed on a competitive basis. Acting quickly, preparing applications, and investing in projects with a real impact is essential if you don't want to miss out on these opportunities.
Ana Silva
30.01.2025
All rights reserved. This article is protected by copyright and may not be reproduced, distributed, transmitted or used, in whole or in part, without the prior written permission of Equações Exaustivas Lda. All trademarks, company names, logos and products mentioned are the property of their respective owners.
