Support for small and very small businesses affected by the COVID 19 pandemic

   May 17, 2021

Action: “Support for small and very small businesses affected by the COVID pandemic in the Regions of the country”.

 

Support for small and very small businesses in the Regions of the country that are facing liquidity shortages and are suffering significant losses due to the effects of measures to deal with the COVID-19 outbreak in the form of a non-repayable grant.

Public funding covers a Working Capital that is equal to 50% of the company’s expenses in 2019 with a minimum grant amount of € 5,000 and a maximum of € 50,000. The amounts based on which the exact grant amount will be calculated are the sum of:

  • purchases of merchandise
  • purchases of raw materials and consumables
  • the total cost incurred for the provision of services
  • all rents paid during the fiscal year by the company
  • total employee benefits
  • various operating expenses

Specifically, the calculation of the corresponding working capital (public funding) results from the sum of the following declared amounts of the fields of the E3 form of the previous year (fiscal year 2019): 102, 202, 181, 281, 481,185, 285, 485 multiplied by 50%.

In case the result is greater than € 50,000.00, the corresponding public funding is set at € 50,000.00, while in case the result is less than € 5,000.00, the company cannot participate in the Action. Please note that the applications of companies will only be accepted if said companies:

  • have submitted the income tax return for the year 2019 on time in accordance with the tax legislation and
  • have filled in the amounts of the above fields with the data of the income tax return (tax form E3 for the fiscal year 2019) that has been submitted on time in accordance with the tax legislation.

In case an amending E3 declaration has been submitted after the deadline for submission of income tax return, both must be submitted to verify that the amounts of the above fields of the last timely declaration have been used.

It is clarified that, in cases where a company operates both inside and outside the Region, the beneficiary must submit a Solemn Declaration of Law 1599/86, certified for the authenticity of the signature, in which the beneficiary will declare the expenses incurred for the operation of the facility / branch in the Region in order to calculate the working capital amount on this amount.

In any case, the ratio cannot be higher than that dictated by the number of employees employed cumulatively inside and outside the Region, which will be confirmed during the audit.

To whom is it addressed

Very small and small businesses which lawfully operate in the Regions of the country.

Submission period

For Attica from 23/10/2020 to 20/11/2020.

For the remaining regions the deadline for the filing is 4 to 27/11/20.

Duration for the Implementation

The working capital paid to potential beneficiaries should be spent by 2021.

Join us at OPEX and we will immediately carry out all procedures to check if you qualify for  the aid program as well as the submission of the application and the file!