Brussels, Tuesday 19 March 2024 - The reform of regional aid for economic development, one of the major pillars of the ‘Shifting Economy’, is becoming a reality for Brussels businesses. From 26 March, Brussels companies considered to be ‘exemplary’ in social or environmental terms will be eligible for increased financial support from the Region. In some cases, this increase in financial support could amount to as much as 45% of the total.
On Monday, a label fair organised by hub.brussels and Brussels Economy and Employment gave the entrepreneurs present the opportunity to obtain information from a number of labelling bodies. A company is considered ‘exemplary’ if it contributes to environmental objectives (recycling, carbon neutrality, protection of biodiversity, etc.) or social objectives (quality employment, team diversity, good governance, etc.). More concretely, for example, if it has a label recognised by the Brussels Region (Entreprise Ecodynamique, GoodFood, Bcorp, Entreprise sociale, etc.), if it is the winner of a call for projects supported by the Region (Women in business, BeCircular, etc.) or if it employs people who are far from the labour market or if it trains jobseekers.
‘When Brussels entrepreneurs develop activities that set an example and respect the environment or create quality jobs, we have to be there to support them. These businesses deserve more financial support from the Region. Our aim is to support them in their economic transition and to ensure that as many of them as possible take this path’, says the Brussels Secretary of State for Economic Transition.
To guide companies through the means of recognising exemplarity, which entitle them to higher bonuses, a tool is available on the Brussels Economy and Employment website: https://economie-emploi.brussels/exemplarite-guide.
30 million in economic aid per year
The reform of economic development aid is ambitious and will anchor the Brussels Region's economic transition in the long term, with a clear objective: the complete decarbonisation of the Brussels economy by 2050. To achieve this objective by 2030, regional aid will be targeted solely at exemplary businesses.
Aid for the economic development of businesses represents some €30 million per year in the Brussels Region and is one of the main regional levers for supporting entrepreneurship. Every year, it helps around 4,000 businesses to start out, transform or expand. In particular, they give businesses the opportunity to invest, recruit, or improve their social or environmental impact.
Supporting the transition
Alongside this economic support, a number of measures have been developed to help businesses make the transition. hub.brussels has recently put online a self-diagnosis tool that allows companies to assess, free of charge, where they stand in environmental, social and governance terms. By integrating these criteria into their overall management, companies can make progress towards becoming social or environmental role models.
➤ The platform is available here