Resto al Sud Incentive: What some Sicilian start-ups say about it

Rest in the South (Resto al Sud), is an incentive to support new entrepreneurial and freelance businesses, aimed at individuals aged between 18 and 55, due to the extension of the Budget Law. _[1]

It gives, “gives an additional opportunity to take advantage of for those who have an entrepreneurial dream to realise and have no intention of emigrating to make it come true”. _[2]

Some of the new Sicilian entrepreneurs were recently interviewed by Sicilia HD. Here is what some who have managed to take advantage of this opportunity had to say:

Alessio Marzocchi | 29 | Partinico

Marzocchi Forg Weld

Alessio’s photo caption from Instagram: “The beauty of having a den is that when the world creates limits for us! We can overcome them anyway. In your lair you are alone and this allows you to continue living”. #work  #riflessioni #covid_19  #lavoro #smartworking   19 November 2020

“Thanks to this measure I was able to buy the equipment for my business and a much more important thing I did not have to leave my beloved Sicily”.

Pietro Salemi | 32 | Palermo

CaMus Cultural Centre, Cantina and Live Music

“We are six partners, four of which can be financed, so we requested from Resto al Sud up to 200, 000 euros, clearly 50, 000 euros for each subject that can be financed. Thanks to the amount paid to us, we were able to purchase both audio and video equipment that we need for the realisation of the concert shows and the bar and kitchen equipment that support, let’s say, the most profitable activities”

“Guys, Resto al Sud really offers young people like us, but also the not so young as now the measure has also been extended to up to 55, the possibility of staying here in the south and not emigrating. It is not easy but the economic conditions offered by Resto al Sud really give a chance that would not have existed before”.

Alessio Lo Scrudato | 32 | Cammarata

Fablab_3d_stampa_Sicilia 3D Printing

“Thanks to this opportunity, I was able to create an investment plan that allowed me to purchase the machines necessary for my business”.

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Some details:

Who is it for?

Residents aged 18 to 55 in Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia, or Sicilia, or those who move their residence to these southern regions within 60 days, or 120 days for foreign residents, from the date of the project proposal approval. _[3]

Deadlines:

There are no deadlines or rankings: the applications are evaluated based on the chronological order of their arrival. _[4]

What can be done?

Activities in the Industrial sector and artisanal crafts, processing of agricultural and fish products; provision of services to businesses and people; tourism; and freelance activities. _[5]

How much can it finance? As detailed on Informazionifiscale.it:

“Resto al Sud covers 100% of the expenses, against a maximum loan of 50,000 euros for each applicant, with a maximum ceiling of 200,000 euros. A company made up of more than four shareholders, therefore, can still receive a loan, but of no more than 200, 000 euros.

The Resto al Sud incentive for companies run and proposed by one individual, provides a maximum loan of 60,000 euros (before 19 July 2020 the maximum limit was 50,000).” _[6]

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I am not a financial advisor, nor am I sponsored or receive any financial benefit for promoting this incentive. As my blog is about Sicilians and Sicily, I decided to dedicate some space to this incentive as it may be of some use to Sicilians or for others who are considering starting a business in Sicily.  

To see the video by Sicilia HD: Resto al Sud Resto in Sicilia _[7]: link

For further details on the incentive see the links below.

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Sources:

• Caprizzi, E. ‘Resto al Sud 2021: come funziona, beneficiari e come presentare domanda’, Informazionefiscale.it, 17/02/2021. _[1] ⤶ _[6] ⤶
• Resto al Sud: aiuti per le startup estesi agli under 56, in Sicilia 3 anni di esenzione fiscale, Palermo Today: Economia, 22/01/2021. _[2] ⤶
• Resto al Sud: A chi è rivolto?, Invitalia, n.d. _[3] ⤶
• Cos’è Resto al Sud?, Invitalia, n.d. _[4] ⤶
• Resto al Sud: Domande e risposte su “Resto al Sud”, Invitalia, n.d. _[5] ⤶
• Resto al Sud Resto in Sicilia, Sicilia HD on YouTube, 20/01/2021. _[7] ⤶