#Japan #Tokyo #Equipment Investment #Tokyo Support #SME Assistance

Tokyo's Initiative for Supporting Small Businesses

In an effort to bolster small and medium enterprises (SMEs), the Tokyo Metropolitan Government along with the Tokyo Small and Medium Enterprise Promotion Corporation has decided on 110 projects for financial assistance under the latest round of the "Support Project for Equipment Investment for Progressive Business Promotion." This initiative, which started in the 2021 fiscal year, aims to enhance the competitiveness and productivity of SMEs through the introduction of essential machinery and equipment.

The key objectives of this support program are threefold:
1. Strengthening Competitiveness: The initiative allows businesses to introduce new machinery and equipment, essential for expanding their operations and improving product and service quality.
2. Successor Challenge: Businesses are encouraged to diversify and tackle new management issues, particularly during succession transitions, with financial backing for necessary equipment.
3. Upgrading Promotion: The focus here is on industries that aspire to grow and play a pivotal role in the local economy by bolstering productivity and competitiveness through upgraded equipment.

Support Outline

Eligibility Criteria

To qualify for this support, the following criteria must be met:

• - The business must be officially registered with a main office or branch in Tokyo and must have been operating for at least two years.
• - Sole proprietors must have submitted the necessary business registration documents in Tokyo.

Supported Industries

• - All types of industries are eligible to apply for this assistance.

Types of Projects Supported

To be eligible for funding, the project must fall within one of the following categories:

• - I. Competitive Strengthening: Introducing new machinery for business expansion aimed at enhancing competitiveness.
• - II. Successor Challenge: Acquiring equipment necessary for diversification efforts linked to business succession.
• - III. Upgrade Promotion: Incorporating necessary machinery to enhance competitiveness and productivity, fostering regional economic growth.

Funding Rates and Amounts

• - The support covers between 50% to 80% of eligible expenses, facilitating a significant investment for businesses.
• - The assistance amount ranges from 1 million yen to 200 million yen, depending on the specific needs of the project.

Duration and Usage of Funds

• - The funded activities can commence from the first day of the month following the funding decision and continue for a duration of 18 months.
• - Eligible expenses must include costs for machinery, tools, and software necessary for the business operations.

Location Requirements

• - The equipment installation can be conducted in Tokyo as well as neighboring prefectures such as Kanagawa, Saitama, Chiba, Gunma, Tochigi, Ibaraki, and Yamanashi. However, if the installation occurs outside Tokyo, the main office must still be located within the city.

Additional Resources

For further details, please visit:
Support Project for Equipment Investment for Progressive Business Promotion

This initiative is aligned with the "Tokyo 2050 Strategy" focusing on supporting and fostering growth within the SME sector, a critical component of the regional economy.

Contact Information

For general inquiries regarding the program, please reach out to:

• - Department of Industry and Labor, Tokyo: 03-5320-4694
• - Tokyo Small and Medium Enterprise Promotion Corporation (for application questions): 03-3251-7884