Cabinet allocates 7.6 billion euros extra for support to companies | NOW



The cabinet is earmarking 7.6 billion euros for companies affected by the corona crisis. That money comes on top of the existing support package, Ministers Wopke Hoekstra (Finance), Wouter Koolmees (Social Affairs) and Bas van ‘t Wout (Economic Affairs) announced on Thursday. For example, there will be a scheme for recently started entrepreneurs and the allowance for fixed costs will be expanded.

When the cabinet announced last week that it would extend the lockdown period to at least 9 February, it was also announced that support to the business community will be expanded. The details on this were communicated on Thursday.

In this way, larger companies can now also be reimbursed for part of their fixed costs. Until now, this scheme was only available for companies up to 250 employees. The compensation depends on how much sales they lost due to the pandemic.

From now on, companies can be reimbursed up to 85 percent of their fixed costs. This was up to 70 percent so far. Moreover, companies are eligible for this higher percentage even with a more limited loss of turnover.

To accommodate smaller companies as well, the minimum fee will be doubled, from 750 to 1,500 euros. The maximum amount will also be increased, from 90,000 euros now to 330,000 euros in the future. This to support the larger companies.

Extra allowance for long-term closed shops

For shops that are closed for a long time due to the lockdown and therefore cannot sell their clothing collection, for example, there will be an extra allowance of a maximum of 200,000 euros in the first quarter.

There will be a guarantee scheme for event organizers. The cabinet is earmarking 300 million euros for this. In doing so, they want to give events that are organized after 1 July the opportunity to start preparations in advance. Without this guarantee scheme, the risk of cancellation is too great for the organization.

There will also be a scheme for companies that started in the first half of last year. They are not yet able to report loss of turnover, which makes it difficult to determine which aid measures they qualify for. It is not yet entirely clear what this scheme will look like.

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