Funding for the hospitality industry
Professional advice is costly, but legislature has recognized the necessity of timely aid and support for companies and offers financial support. New businesses, enterpreneurs and small to medium-sized companies can take advantage of funding opportunities that are currently available through various Institutions. The Förderdatenbank (Funding Database) of the Federal Ministry of Economics and Technology provides assistance in choosing the right program for your company’s project.
The support offered for advisory services, performed by accredited consultants of the consulting exchange of the Federal Ministry of Economics and Techology, are subsidies of 50% (Berlin and former West Germany) and 75% (East Germany) - up to a maximum of € 1,500 - for enterprises and freelancers. The counseling is time-limited to one year. The current information is also available here.
The KfW Mittelstandsbank supports young companies in the first five years of their existence with subsidies for consulting fees of up to 75% (KfW Gründercoaching). Companies in crisis or with redevelopment needs, may take advantage of benefits of up to 6,000 € via the following programs: KfW Runder Tisch and KfW Turn Around Beratung.
Financial support for new companies which are still in the process of starting the business is dependent on available programs in the respective provinces.
"When I was young, I thought money was the most important thing in life. Now I am old and I know money is the most important thing.“