L’Madeira Employment Institute since 2015 it has financed the creation of 500 companies for a total of 8.7 million euros, creating 871 jobs, the regional government chairman said.
According to Sapo News, “at the moment everything is coming together to continue supporting the projects of young entrepreneurs,” said Miguel Albuquerque during a visit to four companies in the restaurant sector in the center of Funchal, created at the scale of the Business Creation and Employment Program (CRIEE).
The purpose of CRIEE is to support unemployed people registered with the Madeira Employment Institute who are 18 years of age or older.
“The positive aspect of this program is that people who do not have capital or are unable to turn to banks can create their own company with our support,” said the CEO of SDP/TsRS-PP. .
Official figures show the creation of 500 companies and 871 jobs in various sectors since 2015, with total support of 8.7 million euros, and funding for a further 30 projects is currently being analyzed.
“This shows that there is initiative in society, people are following the economic development of the region,” said Miguel Albuquerque, noting that the Madeira Employment Institute intends to organize next year “a fair demonstrating this entrepreneurial reality.”
CRIEE support ranges from €4,000 to €57,000.
Source: The Portugal News