The “Rest in the South” measure has reached 10 thousand approved projects, facilitating the start-up or expansion of business projects in the southern regions. According to the latest report released by Invitalia, the company controlled by the Ministry of Economy that manages the instrument, in September there were 440 cases, the highest monthly figure since the start in January 2018. Investments activated in almost four years of operations, notes Invitalia, amount to a total of 690 million euros, against 400 million of loans already disbursed, for an employment impact that is estimated at 37,000 new jobs.
Which sectors are concerned
Initiatives are allowed in the sectors of industry, crafts, processing of agricultural products, fishing and aquaculture, supply of services to businesses and tourism individuals, freelance activities (both individually and as a company). Agricultural activities and trade excluded. All legal forms are allowed, including cooperatives. A previous survey, published by Il Sole 24 Ore last June 26, also provided details by investment sector. 51% of the projects referred to entrepreneurial activities in the tourism and culture area. Only 20% to manufacturing and crafts, 19% to personal services, 5% to services to SMEs, 3% to the ICT sector, 2% to construction.
Where the incentives are operational
The concessions support the birth and development of new entrepreneurial activities by people of age, and under 56, who at the time of submitting the application are resident in Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia, Sicily or in the 116 Municipalities included in the seismic crater area of Central Italy (Lazio, Marche Umbria) or transfer their residence to these areas within 60 days (120 if resident abroad) from the positive outcome of the investigation.
The companies concerned
Applicants for the benefits must not already be owners of other business activities in operation as of 21 June 2017, must not have received other national benefits for self-employment in the last three years and must not have a permanent job by committing themselves not to have it for the entire duration of the loan The incentive, as well as for companies established after 21 June 2017, can also be granted to companies being established (the constitution must take place within 60 days – or 120 days in case of residence abroad – from the positive outcome of the investigation)
The professionals
Freelancers (in company or individual form) who do not have a VAT number in the 12 months prior to the submission of the application for carrying out an activity similar to the one proposed can also apply for loans.