POLITICS & INSTITUTIONS - ECONOMY

New cash grants for smallest virus-hit firms



Paperjam.lu

Lex Delles, the SME minister (DP), said the government is “strengthening the immediate financial support for micro- and small businesses because they are generally the most vulnerable to unforeseeable events such as covid-19.” Library photo: Lex Delles speaks during a press conference, 20 February 2020. Photo credit: Matic Zorman/Maison Moderne 

Companies employing between 10 and 20 people will be eligible to receive a lump sum payment of €12,500, the SME ministry said on 22 April.

The €5,000 cash allowance for companies employing less than 10 people, introduced on 25 March, has been extended. Originally it was meant for businesses that had to shut their doors based on government safety orders. Now it will also include companies that have reopened with authorisation, but “suffer a loss of at least 50% of their turnover during the period from 15 April 2020 to 15 May 2020,” per the SME ministry announcement.

An additional €5,000 cash grant can be given to companies with less than 10 staff members who remain closed on government safety orders or which have taken a hit of 50% or more to their turnover between 15 April and 15 May.

The ministry said application forms would be available on the Myguichet government portal starting on Friday.