SUBSIDIES FOR THE OPERATION OF BUSINESS ASSOCIATIONS

2023/04/14

Madrid on April 13, 2023. At the proposal of the delegate for Economy, Innovation and Employment, Miguel Ángel Redondo, the Governing Board of the City of Madrid approved this morning the agreement authorizing the spending of 1,000,000, 00 euros, to finance the public call for subsidies to support the
operation of the commercial, hotel and hospitality sectors corresponding to the year 2023.

The objective of this line of aid, convened for the first time in 2021, is to promote local commerce and boost the associationism of the commercial, hotel and hospitality sectors through financial support that alleviates the operating expenses of entities that operate in these sectors. .

Non-profit associations made up mostly of businessmen from the commercial, hotel and hotel sector who carry out their activity preferably in the city of Madrid, will be able to access these aids, and they will be able to obtain a maximum financing of 50,000 euros per entity.

In the two previous years, subsidies for an amount of nearly 1.5 million euros have been granted through this line of aid.

With this there are already 5 calls for aid aimed at supporting trade and hospitality in 2023 that have been approved by the current government team so far this year, adding a total of 7.9 million euros of authorized credit, expandable up to about 11.5 million euros.

The bases of the call will be published soon in the Official Gazettes of the Madrid City Council and the Community of Madrid.