Support for Subcontractors Now for 60 Companies, 20 After 6 Months

A total of 60 companies in the electrical industry were chosen to be members of a subcontractor support pilot program. The program is to run at 60 subcontractors for the electrical industry for a period of 18 months.

The companies will be able to receive consultation fees including audits of their business free through this event, which is financed by the state budget and the Phare Fund. The event this year is budgeted with Phare in equal shares at CZK 21 million. Roughly the same amount will be reached next year. The costs for the entire project should reach EUR 3 million.

After six months together with the company KMPG Consulting, consultants will select 20 companies that will further use intensive individual consulting. CzechInvest, according to the words of general manager Martin Jahan, is negotiating with banks on better conditions of financing for Czech companies, which will remain in the program. The aim of the program is to increase the portion of subcontracting from Czech companies for foreign investors in the CR up to 30% from its current mark of 10%

Other countries have experience with similar programs. "In Ireland the support program has run since 1985 and more than 300 companies have taken part. Thanks to the program they were able to increase their subcontracting by 260%", said Irish consultant Bill Chambres.

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