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Photo by Judita Grigelyts (V)
The second business support package considers 7 measures, one of the main grants. They could come into business in the summer, and the grants and loans provided in the previous package are expected in January.
The concept of new aid measures has already been developed and is being coordinated, reports the Ministry of Economy and Innovation (EIM).
The second package provides for 7 measures, one of the main subsidies. Additional subsidies would be provided to the worst hit companies, which have lost 50% or more of their revenue. Additional subsidies are also foreseen for the self-employed.
Also called market tax offset. V recalls that the measure was already in force after the first quarantine.
EIM also states that it is planning to provide coupons, vouchers for doctors and teachers.
Especially for small businesses, there is also talk of a fund, loans for the worst-hit businesses, as well as start-ups and new jobs.
Read more about the measures envisaged in the second aid package here.
The EIM report states that the package will be presented to the European Commission for coordination as a matter of urgency, in agreement with the social partners. If the coordination process goes smoothly, companies could use the second package in the summer.
The second business support package could hit 180 million. Eur, and its measures focus mainly on helping the most affected companies and the self-employed and creating new jobs. Given that companies have been affected very differently during the pandemic, it is expected to differentiate the amount of subsidies based on the drop in turnover, as well as the possibility of giving more help to the self-employed through additional aid. In addition, we must think of new opportunities for companies to create, maintain and create jobs. So we are currently discussing, refining business needs and opportunities and only then will we finally decide on a specific measure, Aurin Armonait, the Minister of Economy and Innovation, is quoted in the press release.
V recalls that the budget for the second aid package has increased to 180 million euros as a result of the remaining non-execution of the EIM. Eur, until the first.
Even in the first aid package, companies are likely to have to obtain grants and soft loans. EIM expects the company to begin requesting these first-stage measures in January.
Read more about grants and loans in the first aid kit.
Under the first stage grant measure, a company with a turnover of 30% or more will be able to receive one-off grants ranging from 500 to 800,000 EUR free of charge. The subsidies will amount to 25% of the personal income tax paid last year.
Preferential loans at reduced interest rates will be available to companies with a turnover of at least 30%. The maximum amount of the loan can reach 100,000 euros.
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