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.
TL;DRDenmark leads the EU in digitalization, yet many SMEs still lag behind in automating their finance and administrative processes. In 2022, the Danish government's SMV:Digital program opened new grant pools offering vouchers of DKK 25,000, 100,000, or 250,000 to help small and medium-sized businesses invest in digital tools, including expense management automation through providers like Acubiz.
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.
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.
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.
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:
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.
Who can apply for the grant vouchers in SMV:Digital:
Pro tips
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.
Frequently Asked Questions
What is SMV:Digital and how can my SME benefit from it?
SMV:Digital is a Danish government-backed program designed to support small and medium-sized enterprises in their digital transformation. Companies can apply for vouchers covering competence development, investment in new technology, and advisory services related to digital conversion and automation. The vouchers are available in amounts of DKK 25,000, 100,000, and 250,000.
Can SMV:Digital vouchers be used to fund an expense management system?
Yes. Investment in digital tools for automating business processes, including expense management, qualifies under the SMV:Digital program's technology investment category. Acubiz encourages SMEs to check whether a grant voucher can offset the cost of implementing a digital expense management solution.
What percentage of Danish SMEs have at least a basic level of digitalization?
According to the European Commission's DESI report referenced in the post, 88% of Danish SMEs had at least a basic degree of digitalization. However, there remains a gap between basic adoption and the more advanced integration of digital tools in workflows, which is where programs like SMV:Digital provide support.
Why do SMEs hesitate to invest in digitalization despite the clear benefits?
The primary barrier is capital. Digital projects require upfront investment in technology, implementation, and training, which can be difficult to prioritize against immediate operational needs. Grant programs like SMV:Digital exist specifically to remove this barrier by co-funding the transition for companies that have identified a digital project but lack the budget to proceed.