Cyprus Internet Directory Jobs In Cyprus
  Cyprus Internet Directory Search       
Google Search
Cyprus Internet Directory Search
Cyprus Comming Events    Cyprus 
Cyprus News Articles    Cyprus News 
and Articles
Cyprus Guide    e Guide
to Cyprus
Quick Links

By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
Read More

SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
Read More

By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
Read More

Cyprus Internet Directory [ Women and the young offered cash help to start a business ]

Women and the young offered cash help to start a business

WOMEN and young people who want to invest in a new business could soon be eligible for state funding, according to two plans approved by the Cabinet on Wednesday.

Presenting the Trade Ministry’s plans to empower female and youth entrepreneurship yesterday, Minister Antonis Michaelides called on them to take advantage of the new package, which will sponsor half the cost needed to set up a business.

In total, the Cabinet approved €11 million for the period 2007-2013, which will be co-funded by the EU. The plans aim to develop, support and promote entrepreneurship among women aged 18 to 55, as well as young people between 20 and 39.

As the Trade Ministry’s senior officer Andreas Kontos explained, if someone was to open a garage costing €100,000, the government would sponsor half of it. The maximum fund offered per business will be €70,000.

The plan also includes educational seminars – held in Nicosia and Limassol – which business hopefuls will be able to attend free of charge and gain more knowledge on entrepreneurship, such as how to maintain accounts, VAT issues and so on.

“In this way, we will be eliminating the possibility of failure,” Kontos pointed out.

He added that special emphasis would be given to new technologies, innovative methods to produce as well as promote products and services, and the development of ideas that have to do with the environment.

Those who are interested in applying can obtain forms and the Plan Guides from the Trade Ministry’s district and central offices from February 25. Applications must be submitted by May 30, 2008.
For more information on the subject, visit the ministry’s website at

Kontos explained that each application form would be evaluated and graded, and those with the highest grades will be approved for state funding.

In order to approve applications, the ministry will take the following criteria into account:
l The applicant’s knowledge on the sector they wish to invest in – this will count for 15 per cent of his or her grade

l Former experience and especially previous work experience (15 per cent)
l The new business’s viability (30 per cent)

l The wholeness and advisability of the business plan (15 per cent)

l The number of new positions the new business would realistically create (15 per cent)

l The development, production and trade of new products and services (10 per cent)

As Minister Michaelides pointed out, the development of entrepreneurship and small businesses is of vast significance to the EU, which likes to encourage young people and women into developing their own businesses.

“The state’s role and responsibility in the issue of encouraging entrepreneurship is of great importance, as entrepreneurship is the motivating power behind innovation, competition and the development of a state’s economy,” he said.

(Source: Cyprus Mail)

Article Options

Email to a friend Email To A Friend     Print Article Print Article     Add Article To Favorites Add Article To Favorites


Other Related Articles

Cyprus News Article Submission

If you have an article and you wish to submit it to our database please send us an email. In your email subject quote "Article Submission" and attach the article to the email. To email us Click Here

Cyprus Holiday Villas-Investment Properties

A wide range of holiday villas, investment properties, building plots and apartments in Cyprus for sale by owner. Save money on your holiday villa in Cyprus and enjoy the holiday feeling for ever.