How Entrepreneurs Can Use EU Funds and State Programs for Business Growth
Why It Matters
Every company reaches a point where it needs to take the next step – whether that’s investing in new equipment, expanding premises, training employees, or entering international markets. These steps require funding, and this is where EU funds and state support programs often come in.
They can cover part of the costs or provide additional security through guarantees, making it easier for entrepreneurs to move forward.
What Opportunities Are Available Right Now?
In 2025, entrepreneurs in Latvia have several doors to knock on:
- Digitalization and innovation – funding for new technologies and IT solutions.
- Energy efficiency – support for modern equipment and green energy projects.
- Export development – assistance for entering international markets and participating in trade fairs.
- Altum loans and guarantees – extra capital under safer conditions.
How to Prepare
For your application to be successful, it’s important to have the basics ready:
- A clear business plan with defined goals.
- Financial statements that demonstrate stability.
- A cash flow forecast proving the project’s long-term viability.
- A detailed cost estimate that meets program requirements.
💡 Tip: Before submitting, always have someone with experience in such projects review your documents. It will save you time, stress, and potential setbacks.
What to Avoid
The most common mistakes that “hit the brakes”:
- Hastily filled out or incomplete documents.
- Costs that don’t match program criteria.
- Overly optimistic or unsupported forecasts.
- Missed deadlines.
- Poor communication with partners or accountants.
What’s in It for the Company?
- Lower risks and greater security.
- The ability to grow faster than with internal resources alone.
- Open doors to new markets and projects.
EU funds and state programs are not just bureaucracy – they are real opportunities for companies that want to grow. If you prepare in advance and do things properly, this support can become the springboard for your next stage of development.
