Government Announces New Funding for Small Business Internationalization in Non-Capital Canary Islands
Spanish Government Supports SMEs in Canary Islands' Non-Capital Islands
Overview
The Spanish government has revealed a revised budget plan to support small and medium-sized enterprises (SMEs) in the Canary Islandsā non-capital islands, including Lanzarote, La Palma, Fuerteventura, La Gomera, and El Hierro. This initiative aims to boost their international reach and competitiveness.
Funding Details
- The total funding has increased to over 634,000 euros.
- Specific allocations for individual islands:
- Lanzarote: approximately 152,000 euros
- Fuerteventura
- La Palma
- La Gomera
- El Hierro
This financial boost comes after adjustments made earlier this year, specifically to better fund projects in Lanzarote, Fuerteventura, and La Palma, highlighting a tailored approach to regional needs.
Strategic Focus
The move underscores ongoing efforts to:
- Diversify these regionsā economies
- Promote local businesses on international markets
"This strategic push aims to open these islandsā companies to new markets, which could lead to more jobs, foreign investment, and economic resilience."
Impact for Local Residents and Entrepreneurs
For residents and local entrepreneurs, this development signals opportunities for:
- Expansion
- Increased global presence
It also reflects the governmentās commitment to:
- Regional economic growth, especially in areas outside the bustling capital, Santa Cruz.