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EUR 40 million of EU investment allocated to take business online

Date

2021 08 19

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The Ministry of the Economy and Innovation has launched a call for applications for EU support under the ‘e-commerce model COVID-19’ instrument, which enables businesses to introduce information technology to administer business transactions electronically. EUR 40 million has been allocated to this instrument.  

‘We focus on instruments that help businesses to recover from constraints and encourage them to grow. Various data show that businesses oriented towards cyberspace and digitalisation are stronger, more innovative and more resilient to unexpected challenges. We want this tool to enable companies to reorient their activities, i.e., transfer trade to cyberspace, introduce new customer self-service systems, improve process management or implement other needs required for the digitalisation of activities’, – says Minister of the Economy and Innovation Aušrinė Armonaitė.

Micro, small and medium-sized enterprises can apply for support and receive funding of between EUR 10 000 and EUR 50 000. The aid intensity is up to 75 % of the project value.

The instrument finances the acquisition of software for the implementation of customer self-service and order management systems on e-commerce platforms as well as costs for integrating the resource management system into e-commerce platforms.

A survey carried out by Enterprise Lithuania last year showed that although as much as 71% of Lithuanian businesses faced a decline in overall sales during the quarantine period, every second company was pleased with increase in online sales and predicted their growth in the future. Thanks to the opportunities opened up by e-commerce, one fifth of our national businesses have decided to no longer engage in physical trade and continue to operate online.