The Lithuanian Business Support Agency (LBSA) has finished accepting applications under the measure ‘New Opportunities LT’ (Naujos galimybės LT), which is aimed at micro, small and medium-sized enterprises (MSMEs) to increase the export of their products, to focus on the search for new foreign markets and to develop existing ones.

Twenty-one applications have been received requesting EUR 5.6 million of EU investment whereas the measure has a budget of EUR 5 million. Applications were received from Vilnius (16), Kaunas (2) and one application each from Panevėžys, Šiauliai and Klaipėda regions.

According to the description, applicants could be business associations, chambers of commerce, industry and crafts, cluster coordinators, Public Institutions Rural Business and Market Development Agency and Travel in Lithuania.

One applicant could participate in a project with at least five MSMEs.

Saulius Merkys, Acting Director of LBSA, stresses that business has faced significant challenges in recent years not only due to the pandemic, but also due to a very difficult situation in the region, which makes it difficult to operate in foreign markets. ‘This measure should help companies to reorient their exports and find new markets for their products’ he says.
The maximum financial contribution of a project is up to 90% of the eligible costs of the project for the applicant and up to 70% of the eligible costs of the project for the final beneficiary – MSME.

The final beneficiaries are those MSMEs whose total sales structure consists of at least 50% of their income from sales of their own products of Lithuanian origin.

Agnė Peteraitienė, Programme Manager of the LBSA’ Business Promotion Projects Division, lists the eligible costs: these will be the salary, travel and transport costs of the project staff, as well as the registration fees of the project promoter as a participant in an international exhibition (where the project promoter participates in an international exhibition as the final beneficiary).
Eligible costs will also include the costs of participation of final beneficiaries in international exhibitions, fairs, outgoing and incoming business missions, and other costs listed in the description.

During the call, the LBSA specialists advised potential applicants on all issues related to the measure, provided them with remote training and answered their questions.

The LBSA advises that 570 projects have been financed under the previous calls for proposals under the ‘New Opportunities LT’ measure. Of these, 311 projects have been completed with an allocation of EUR 16.3 million and 259 projects are still underway, with an allocation of EUR 12.8 million in EU investment.

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