Algarve has 4.4 million euros to support employment and entrepreneurship

Algarve has 4.4 million euros to support employment and entrepreneurship


CRESC Algarve 2020 launched the first calls for access to European funding in the context of the + CO3SO Jobs program, with a total allocation of 4.4 million euros for support for employment and entrepreneurship.

The competitions will be managed by the Local Action Groups (GAL) and support the creation or expansion of companies, through the hiring of human resources, as well as the creation of their own jobs by unemployed people wishing to return to the labor market.

Micro, small and medium-sized enterprises (SMEs) are eligible to apply and, in the competition for social entrepreneurship, IPSS, associations and foundations, cooperatives, mutual associations, mercies and other entities of the social economy are eligible. The location of the investment should correspond to the LAGs' area of ​​focus.

In the coming days, the remaining tenders will be opened to be managed by the remaining LAGs with a focus on the Algarve.

With a total allocation of 4.4 million euros from the European Social Fund, the funding will be allocated to a non-refundable fund and will cover remuneration and contributory expenses, in addition to 40 percent of the costs associated with job creation.

As an example, whenever up to three new jobs are created, the support for each contracted worker can be 1,850 euros per month, up to a maximum of 36 months.

Each employer may, according to the regulation, benefit from a maximum of 200 thousand euros from the European fund.

The + CO3SO Jobs application guide is available HERE.

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