Preparation of a project for the EU structural funds

Every entrepreneur is interested in developing his business and making bigger profit by the using of financial instruments of the European Union. If you already have a business idea or business project and:

  • You want improve the qualification of your employees to be ahead of everyone else;
  • You plan to participate in international exhibitions for finding new business partners;
  • You need to order a technical project, to organize a marketing study, to get a consultation about the ISO certification;
  • You plan to develop new technology for development of production or improve already existing product;
  • You need to create a manufacturing infrastructure with water supply, drainage, gas supply, electricity,heating, telecommunications, build access roads;
  • You wish to modernize your enterprise in accordance with international standarts, purchase new modern equipment.

You have an opportunity to obtain funding from the EU structural funds- the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the European Agricultural Guidance and Guarantee Fund (EAGGF). To obtain funding from the EU structural funds, it is necessary to elaborate and submit a project. Elaboration of a project starts with defining priorities and specifying business idea or investigation of a particular problem. Study of priorities and problems allows to define the main idea of the project by choosing the best possible solution that matches the strategy of enterprise. In order to evaluate objectively enterprise's chances, intention of project and co-financing in general, it is necessary to get acquainted with current financial support programs - their objectives, priorities, requirements and restrictions. Project funding source has to be found (own financial resources, financing bank financing, Latvian Guarantee Agency) at this stage in order to cover 100 % of project expenses.

If you decide that realization of project with requirements of the EU structural funds for a particular program is beneficial for your enterprise, then you will have to formulate a title. The title must be adapted to the aims of the program you are willing to obtain funding from.

As soon as you define the amount of work related to the elaboration of the project, we will create a team – a group of specialists who will be responsible for the course of procedure. They can be either specialists of your enterprise or independent experts-consultants.

Preparation of documentation is usually divided into 4 parts:

  1. documentation related to the procurement;
  2. technical documentation (construction plan, specification of technology and equipment, etc.);
  3. business plan;
  4. specific documentation (certificates, protocols, annual reports, special forms, etc.).

Procedure of procurement. It is one of the conditions that has to be fulfilled in order to claim for financial support of the EU structural funds. A tender has to announced and at least 3 offers have to be received if the possible contractual sum exceeds a definite amount (5000 excluding VAT). The offers have to comply with the standards that are formulated in written in the tender’s regulations. Regulations are the same for all participants. They are elaborated by the enterprise itself or in collaboration with consultants. Procurement’s documentation has to be processed in accordance with the regulations issued by the Cabinet of Ministers “Regulations regarding the Procurement Procedure and Procedures for the Application thereof to Projects Financed by a Commissioning Party” No.603, that are in force from 13 July 2004. If building operations, reconstruction or renovation is planed, the technical project has to be finished and confirmed by the time when documents are submitted.

Business plan. It is elaborated according to a definite form. Business plan is necessary for an enterprise and its owners in order to evaluate their business idea objectively. Business plan is an instrument with the help of which enterprise can attract additional funding in the form of loan or investment. This document can serve as an instrument for attracting of additional non-refundable funding.

Specific documentation

In this case we speak about different forms that have to be filled in and necessary certificates, protocols and other paperwork. We advise to take into account that obtaining documents from state institutions can take from 2 to 4 weeks, sometimes even longer.

Project funding from the EU structural funds is assessed by the following criteria:

  • administrative criteria;
  • common quality criteria;
  • specific marks

If the project corresponds to the definite criteria, then after the conclusion of contract with the administrative authority it has to be implemented, final report has to be submitted and then funding from the EU structural funds can be obtained.

Our experience and professional approach will help you to create a perfect project.

The information about the EU structural funds and government support programs can be found at,,,,,, and at thematic home page of Ministry of Finance

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