State aid - Thuringia pays financial aid to young champions
In the German state of Thuringia, an increasing number of young master craftsmen are taking advantage of financial startup aid from the government to establish their own businesses. The master craftsman's grant of 5,000 euros, introduced in Thuringia in 2021, is being utilized more and more each year, according to figures from the Ministry of Economics in Erfurt. In the first half of this year alone, 600,000 euros were paid out - more than double the amount paid out in the entire year of 2023, which was 275,000 euros.
So far, a total of 1.15 million euros in startup grants have been distributed, with 230 masters using the funding to start their own business or take over an existing one. Thirty of them received an additional 2,500 euro bonus each for creating at least one new job or training position when they started their business.
Thuringia offers young masters three financial incentives. In addition to the startup grant, there is also the master bonus, which has been in existence since 2021. Every craftsman and, since 2023, also every industrial master or master in green professions receives 1,000 euros from the state upon successful completion of their training. So far, the bonus has been awarded to 815 craftsmen and 428 masters in the field of industry and commerce.
Since 2017, a master's prize has also been awarded to the top graduates of each trade in the chambers of skilled crafts. A total of 230,000 euros has been provided by the state for this purpose.
Minister: Supporting young talent
"With the master's prize, master's bonus, and master's startup grant, Thuringia offers an attractive package to support young talent in obtaining their master's degree," said Economics Minister Wolfgang Tiefensee (SPD) in response to a request. Masters are entrepreneurs and leaders in the skilled trades, standing for quality, innovation, and the high level of training provided by the Thuringian skilled trades.
According to the Industry and Commerce Chamber (IHK) in Erfurt, the Thuringian state parliament passed a directive in July 2023 that also grants the master's bonus to graduates of certain further training courses at the industry and commerce chambers as financial recognition and incentive for further professional development.
The following financial incentives are provided by Thuringia to support young talent: a master's prize, a master's bonus, and a master's startup grant. The Thuringian state parliament passed a directive in 2023 to also grant the master's bonus to graduates of certain further training courses.
