The President of the Government of the Balearic Islands, Margalida Prohens, has announced the call for applications for subsidies for the zero quota for self-employed entrepreneurs, with an initial allocation of one million euros, aimed at granting aid to offset the cost of Social Security contributions to self-employed entrepreneurs who are covered by the flat rate for self-employed residents in the Balearic Islands. It is estimated that up to 1,000 beneficiaries may benefit.
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Prohens announces the zero quota
The zero quota for self-employed entrepreneurs, which will be approved this Friday in the Consell de Govern, will be paid through three calls for subsidies, the first of which will open this month, on 15 April. In this regard, the Department of Enterprise, Employment and Energy, through the Directorate General for Enterprise, Self-Employment and Trade, has launched the first call for aid for self-employed entrepreneurs who have been registered from 1 July 2023 to 30 June 2024 and, retroactively, for those who have been registered from 1 January 2023.
The president stated that the aim is to give a helping hand in the first two years of activity, “at the time of starting the project, of building up the client portfolio, which is the most complicated years, and in which the self-employed fee can be a deterrent”.
The first year of the zero quota for self-employed entrepreneurs does not have any requirements beyond being registered as self-employed and is open to all profiles. As for the following calls, self-employed workers who do not exceed the minimum interprofessional wage (SMI) during the second and third year will be eligible. The 2024-2025 call will also have a 100% bonus and the third, the 2025-2026 call, will have a 50% bonus. It should be noted that the renewal of the subsidy is not automatic and must be requested at each call for applications.
In this regard, Prohens stated that “with this initiative, we are taking a step forward in our support for the self-employed and entrepreneurs of the Balearic Islands with real help. In this way, we are keeping our word to stand by those who want to invest and those who want to undertake, to help our businesspeople and self-employed, and to generate more opportunities in our community”.
Previously, President Prohens, together with the Minister of Enterprise, Employment and Energy, Alejandro Sáenz de San Pedro, and the Director General of Enterprise, the Self-Employed and Trade, José Antonio Caldés, met with business associations, the most representative associations of the self-employed and representatives of young entrepreneurs in the Balearic Islands to share the Government’s measures to support the self-employed and entrepreneurs in the Balearic Islands.
It is important to mention that registration as a job seeker with the Employment Service of the Balearic Islands (SOIB), just before registering as a self-employed worker, is a requirement that must be met by those interested in applying for the grant, as well as being registered in one of the municipalities of the Balearic Islands; carrying out their activity and having the work centre in the autonomous community, and being up to date with the payment of obligations with the State Tax Agency and the Tax Agency of the Balearic Islands (ATIB).
The deadline for submitting applications will begin on 15 April 2024 and end on 15 July 2024. The grants will be awarded in the order in which they are received at the registry of the Autonomous Community of the Balearic Islands. Interested parties may submit their applications online or in person.