2022 was to be the year for recovery following economic downturn caused by the pandemic, however events in the Ukraine have refocused efforts to improve energy efficiency and improve supply chains. Economies across Europe are experiencing turbulence in their markets and the threat of recession looms large. Record energy prices have pushed up inflation and interest rates and governments are actively relocating funds to help mitigate these issues.

Hickey can guide you through the support that could be available to your business if you’re:

• Planning to make changes to your workforce – training, growth, and in some cases, retention of the workforce can all attract funding under the right circumstances

• Investing in reducing your environmental impact – reducing energy use and carbon emissions are high on the priority for many governments

• Involved in innovation – funding in this area can go beyond tax credits.

The combined EU budget 2023 and NextGenerationEU will provide approximately €300 billion in funding to support a stronger and more resilient Europe. The European Commission plans to continue prioritising green and digital investments while addressing the pressing needs arising from the pandemic and the invasion on the Ukraine. The 2023 budget aims to encourage significant investments to boost Europe’s ongoing economic recovery, safeguard sustainability and create jobs.

This report provides updates and information on these schemes to keep your business aware of changes that can affect you directly.