Digitization projects require a certain amount of capital, which can sometimes deter small and medium-sized enterprises (SMEs) from investing. It’s a shame, because companies have a huge possibility of gaining from digitization. However, there’s good news. In 2022, SMV:Digital will open up for new grant pools. Grant pools that make digitization accessible to all SMEs.
At Acubiz, we’re very excited about the grant pools from SMV:Digital as we work with digitizing and automating companies’ business processes. In our case, this includes all kinds of employee-initiated expenses. We know that it’s efficient to implement digital solutions. Therefore, we encourage all SMEs to investigate whether the grant pools can help and promote a digital project with you.
A Digital Pioneer
In Denmark, we are far ahead with digitization. Most recently, the European Commission’s annual Digital Economy and Society Index (DESI) report showed that Denmark places number one in digitalization in the EU. When it comes to Danish companies’ integration of digital technologies, 88% of Danish SMEs and 97% of large companies have at least a basic degree of digitization.
Despite the already high degree of digitalization in Danish companies, the government and the political parties, that need to the agreement on the Finance Act, have nevertheless allocated many millions in grant vouchers in the period 2018-2023. Grant vouchers that help to promote digitalization and e-commerce in Danish SMEs and thereby increase growth and promote competitiveness.
SMV:Digital supports the digital transition
The purpose of SMV:Digital is to help SMEs with their digital transformation and digital projects. Companies can apply for vouchers for competence development, investment in new technology and for advice on digital conversion and automation. In practice, companies can apply for vouchers of DKK 25,000, 100,000 or 250,000.
In previous years, the grant vouchers have been a great success. Many millions have helped set thousands of digital projects in motion that promote investment in technology and boost productivity and revenue.
Information on the vouchers
Is your company ready to invest in digital solutions, automation or e-commerce solutions that can strengthen the digital transition? Or do you need advice for doing just that? Then we recommend that you look at the grant vouchers. Read below for information on when it’s possible to apply and what the different grant vouchers entail:
- Monday, January 31st: Grant voucher for DKK 25,000 for private counseling opens.
From 31 January at 9.00, you can apply for a voucher of DKK 25,000 for the purchase of consulting that either helps your company to implement new digital solutions or strengthens your online sales.
- Monday, March 7th: Grant voucher for advice on digital bookkeeping of up to DKK 25,000 opens.
From March 7 at 9.00, you can apply for a voucher of up to DKK 25,000 for private consultancy, which can help your company implement digital bookkeeping. This is something that becomes even more relevant for all companies with the introduction of the new proposal to amend the Bookkeeping Act. Read more about it here.
- Monday, April 4th: Grant voucher for investment in new technology and associated advice of up to DKK 250,000 opens:
From April 4 at 9.00, your company can apply for a voucher of up to DKK 250,000 for investment in technology and IT (up to DKK 200,000) and associated consultancy (DKK 50,000). You need to set up a business case for the investment in new hardware or software. If you choose to invest in a subscription-based solution, such as Acubiz, the expense can be supported for up to two years.
- Tuesday, May 17th: Grant voucher for advice of DKK 100,000 opens
From 17 May at 9.00, you can apply for a voucher of DKK 100,000 for the purchase of consulting that either helps your company to implement new digital solutions or strengthens your online sales.
Read more about the grant vouchers and the application criteria at https://smvdigital.dk/. Here you will also find other information about the grant vouchers, which are expected to open during the autumn of 2022.
Criteria and Pro Tips
Who can apply for the grant vouchers in SMV:Digital:
- Companies with a Danish CVR number
- Turnover of a maximum of EUR DKK 50 million or a balance of a maximum of EUR 43 million
- The company must not have received state aid for more than EUR 200,000 in the current and two previous financial years.
- There’s a requirement for co-financing to the same extent as the grant funds are allocated (50% co-financing). The co-financing can either be in the form of cash payment or hours held.
- There are different requirements for the number of employees depending on the amount:
- Companies applying for grants of up to DKK 25,000 may have between 2-49 employees.
- Companies applying for grants of between DKK 50,000 and up to DKK 100,000 may have between 2-249 employees.
- If the amount is DKK 100,000 or up to DKK 250,000, the company must have between 3-349 employees and must have a turnover of at least DKK 2 million in the most recently submitted annual accounts.
You need to be fast! The grant vouchers are allocated on a first-come, first-served basis. This means that applications are processed in the order they were received. The vouchers will be allocated until the total amount for the round has been distributed.
The funds are in great demand and have previously been distributed in just a few hours. Therefore, make sure to have everything ready in advance before applying. So, all you have to do is get ready and send the application right away. It increases your chances.