The Regulation of the new Agency for Innovation and Business Financing will be approved within 6 months

The Minister of Economy and Employment, Tomás Villanueva, announced this Friday a new line of zero-rate express loans for SMEs, self-employed workers, and entrepreneurs who set up businesses in rural areas of Castilla y León or in areas severely affected by the crisis as a formula of individual self-employment and tool to fix population.

This has been one of the main commitments made by Villanueva in his appearance this Friday in the Committee of Economy and Employment of the Cortes where he has detailed the lines of work of the department for the next four years of the legislature with employment and generation of activity economic as basic objectives.

Villanueva, who has acknowledged the need for companies to obtain sufficient financing for their investment projects and credit restrictions due to the crisis, has also committed to maintaining the non-refundable subsidies until the system’s review in December 2013 focused on projects of regional and strategic business investment, R & D & I projects that are strategic for the industrial and business development of the Region, companies that initiate research processes or generate technological positions and investments of self-employed and micro-SMEs that involve competitive improvement.

The Minister of Economy has also advocated to support the European authorities in the new regime of state aid that is approved for 2014 to maintain the possibility of giving subsidies in the form of lost funds to business R & D & I projects and to defend the permanence of “de mínimis” grants for SMEs, micro-enterprises and self-employed workers in competitive improvement investments.

Finally, it has ensured that the Board will continue to reduce the financial costs of the loans of SMEs and the self-employed of Castilla y León and ensure their realization through Interval, as well as developing a set of public-private venture capital funds for being “a good instrument to leverage foreign financing and professionalize the management of companies.

Reimbursable aid in 2014

Tomás Villanueva recalled that this legislature will be “decisive” in the process of transforming public aid to companies and the culmination of the transition from traditional subsidies to the reimbursable aid system in 2014.

Strengthen the capabilities of the society of business interests in the Region, ADE Capital Sodical, “especially the measures aimed at promoting participatory loans”; broadening the agreements with the European Investment Bank and promoting that companies obtain financing from other agents beyond the most traditional financial institutions are other objectives that Villanueva has set for the table today.

The director has also announced a new information service and fundraising private investment and venture capital funds for companies in the region, supporting them in the preparation, presentation, and negotiation of projects.

Finally, it has committed to signing agreements with credit institutions and, especially, savings banks, to find more effective ways for the development of Castilla y León serves to meet and finance the investment projects of the families and Castilian-Leonese entrepreneurs.

Business support agents

Business support agents

Tomás Villanueva has also explained that the Board will launch on the basis of the current Investment and Services Agency and its group of companies the new ‘Agency for Innovation and Financing’ that will be chaired by a new form of work organization that will make use of business support agents to provide companies with “direct and personal attention”.

“To this end,” the counselor explained, “we will approve the organizational regulations of the new Agency that will contemplate a new structuring, new working formulas and new resources for companies within a maximum period of six months.”

In addition, the Ministry plans to approve within a maximum period of one year the Portfolio of Services to companies to provide specific business solutions and coordinate all possible supports and instruments that a company may need.

As already defended by the chairman of the Board, Juan Vicente Herrera, in his Investiture Speech, Villanueva has been convinced that companies should have a preferential focus as levers for the recovery of growth and job creation for what has been ratified the presentation in the first six months of the Legislature of the Bill to Stimulate the Creation of Companies focused especially on SMEs and self-employed.

For the Minister of Economy, one of the ways to advance in the change of the productive model of Spain is to promote the creation of new companies in the region, especially by young people who are currently studying in universities or in the FP

As he has admitted, changing this pattern of behavior will not be easy and will demand “high doses of imagination” in the design of public and private mechanisms that encourage the emergence of business vocations “and, above all, exercise leadership to coordinate in the regional scope the set of institutions, plans and instruments that affect the creation of companies “.

Finally, it has announced the start-up of an Integral Support System for the Entrepreneur, a Specific Support Plan for Autonomous Workers and a new boost to the Social Economy with the challenge of increasing its weight in regional GDP by 20 percent. through the Specific Social Economy Plan. The counselor has informed that in this mandate a Framework Plan of Corporate Social Responsibility will be drawn up that will prioritize the business attitudes of social, labor, environmental and intergenerational commitment through the stimulus, training and dissemination measures.

In innovation, the challenge has been set to increase the number of innovative companies in Castilla y León and private sector spending in R & D + I with the goal of adding 25 percent of more innovative companies in the region by the end of 2015 – At the moment the Community has more than 1,800 companies of 10 or more workers who are considered innovative, according to the information provided by the counselor.

It is also committed to promoting a program of internships for technologists to train 120 additional managers and a new training program on innovation management for technical staff of companies in the region to train 300 technicians.