The moment of approval is not the end of the road. It is the beginning of a challenge called project implementation.
The excitement is great – and rightly so. The funding application has been approved. ESPA or another program has given the much-desired “yes.” The screen reads “Approved Budget: €95,000” and everyone is celebrating. So far, so good.
But this is where the less glamorous and far more demanding side of the story begins. Because funding is not cash in hand. It is an obligation in progress. And anyone who does not treat it with seriousness and strategy risks losing not only the money, but also the project, the opportunity, and their peace of mind.
What comes after approval?
- Administrative actions that (often) no one explains
From creating an electronic file with supporting documents to proving that everything is fully compliant. OPSKE requires accuracy. Documents must have correct dates, signatures, and structure. The process does not forgive mistakes.
- Cash flow
Were you expecting an advance payment? Not that simple. In most programs, you pay first – and then you get reimbursed. Which means: either you have reserves or you resort to financing. And this is when tough reality begins.
- Real implementation
Many projects have started but never reached completion. Because equipment was delayed, professionals were not consistent, or the market changed. And suddenly, the subsidy became a burden. Remember: the project is not the paperwork – it is the actions.
What is required from you?
- Organization: Nothing will run smoothly without a timeline, clear responsibilities, and control.
- Team: You need people who know – not only accountants and consultants, but also project managers and technical partners.
- Patience: Because “payment approval,” “pending review,” and “file finalization” can test your nerves.
- Adaptability: The project you got approved is not necessarily the project you will eventually deliver. The market changes – and so must you.
Small tips with a big impact:
- Create an internal monitoring file. Don’t rely solely on your consultant.
- Speak regularly with your accountant. Many approvals collapse due to VAT, invoices, or mistakes in expenses.
- Get backup offers. Don’t tie yourself to a single supplier.
- Keep a personal project diary. Memory fades. Subsidy rules don’t.
A subsidy is not a lottery. It is a tool. Like a hammer: it can build a house, or it can break everything. It depends on the hand that holds it. And if that hand is determined, organized, and grounded – then the project will not just be funded.
It will be sustainable.
Elina Karamanou CEO | Co-Founder | Business Consultant at AFS
