Cabinet: € 7.6 billion extra for support for entrepreneurs | Financial

Minister Koolmees (Social Affairs) reports that he is increasing the maximum percentage of the so-called NOW scheme. Companies can now be reimbursed up to 80 percent of their wage bill if their company has come to a complete standstill.

That goes up to 85 percent. Companies can still reduce their wage bill by 10 percent while retaining their support, for example by firing people or asking for a wage sacrifice.

It is not the only extension of the support that Koolmees, together with his fellow ministers Hoekstra (Finance) and Van ‘t Wout (Economic Affairs), will present on Thursday afternoon.

The cabinet also turns the knobs of the fixed load support. Companies will soon be able to receive compensation up to a maximum of 85 percent, this was still 70 percent.

More spacious

In addition, a wider upper limit will be added to this support. Until now, this was 90,000 euros per quarter, which will be 330,000 (for companies with up to 250 employees) or 400,000 euros (more than 250 employees).

This distinction means that compensation can no longer only be applied for by SMEs employing a maximum of 250 people. The minimum compensation is also going up, from 750 to 1500 euros, to accommodate small entrepreneurs.

In addition, there will be a new stock allowance for retailers who had to close due to the lockdown. In December, the cabinet also came up with such a fee, which then had a maximum of around 20,000 euros. The new compensation will be a surcharge of 21 percent on top of the compensation for fixed costs, the maximum goes to 200,000 euros.

Starters

The cabinet is now also introducing a scheme for start-up entrepreneurs, something that has not been possible until now. This applies to those who started in the first half of 2020. “It was complicated and took a long time,” says Van ‘t Wout. There will be a separate regulation, but has yet to be worked out and the counter will probably not open until May.

In addition, there will be a guarantee fund for events of 300 million euros. Organizers of festivals, for example, can claim this, so that they can already start setting up the festival. If that cannot continue due to the corona virus, they may turn to the fund for the costs.

The new aid package, which will cost 7.6 billion euros, is the result of long negotiations between the cabinet, employers and trade unions on Thursday afternoon.

Tough negotiations

These were more difficult than expected. The social partners wanted a solution for the large debts that companies now run into and compensation for corona leave for parents who have children who are not allowed to go to school. But no solution has been found yet.

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