Financing for crafts and SMEs

There are different levels of funding available for digitalisation in the craft sector. Starting from financing for consultancy and the implementation of specific digitalisation measures in small and medium-sized companies up to large-scale projects aimed at the intelligent networking of machines in the context of Industry 4.0. We have listed here some relevant financing in the digitalization sector.

go digital (BMWK)

What is funded?: The consultants are divided into the various modules of digitalization strategy, IT security, digitalized business concepts, data expertise and digital market development. Examples of eligible measures include the introduction of comprehensive software into operational processes or the development of an effective Internet presence in the form of a website or Internet shop.

Conditions: The financing covers 50% of the consultancy costs. These cannot exceed the daily rate of 1,100 euros. For a maximum of 30 days of consultancy, the maximum financing amount is 16,500 euros. To minimize the bureaucratic burden for SMEs and artisan businesses, the financing request is also managed completely by the consultancy centres.

Who is funded?: Companies with fewer than 100 employees, an annual turnover or annual balance sheet total of up to 20 million euros and a branch or permanent establishment in Germany are eligible for financing. It is possible to apply for financing until 31 June 2024.

Digital time (BMWK)

What is funded?: eligible measures include investments in digital technologies or the qualification and continuous training of employees on digital issues. An example would be investing in a professional website that includes online sales with associated software.

Conditions: The grant for individual businesses amounts to a maximum of 50,000 euros and can be increased up to 100,000 euros if the company is part of a value chain or network and applies accordingly. It is important that implementation has not yet started at the time of submitting the application. Once the financing has been approved, this must also be implemented within 12 months.

Who is funded?: Small and medium-sized businesses in all sectors with between 3 and 499 employees and a branch or permanent establishment in Germany are eligible to apply. You can apply for the “Digital Now” funding program until December 31, 2023. Businesses have 12 months to implement the project after funding approval.

Loan for ERP digitalization and innovation (KfW)

What is funded?: The measures eligible for KfW 380 cover a wide range. What is important is that they are accompanied by a “substantial improvement” of products, procedures, processes and services. This could be, for example, the introduction of 3D printing technology, the development of digital platforms for e-commerce or the expansion of internal broadband networks.

Conditions: The loan concerns investments from at least 20,000 euros up to 25 million euros. The duration is between two and ten years. The interest rate is set on the day of commitment and depends on the performance of the capital market, creditworthiness and other guarantees.

Who is funded?: Companies and freelancers with offices, subsidiaries, branches or permanent establishments in Germany can benefit from the financing. These must have fewer than 250 employees and a maximum annual turnover of 50 million or a maximum annual balance sheet total of 43 million.