When the government introduced a liquor ban in December, it was particularly hard on an already pressured culture and catering industry.
During a meeting with the industries in Bergen on 6 January, Minister of Trade and Industry Jan Christian Vestre (Labor Party) promised that the compensation scheme would be in place during January.
– SATISFIED: Minister of Trade and Industry Jan Christian Vestre is happy that the scheme is in place. Photo: Truls Aagedal / TV 2
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Transferred immediately
On Friday afternoon, four days before the deadline, the scheme is in place, and at 5 pm Vestre watched the very first companies applying for money.
It is an automated process and the money is transferred immediately.
– The companies that have the paperwork in order can log in now and get paid within a few hours, Vestre says to TV 2.
Record speed
– We have put in place this scheme at record speed so that companies that are struggling will get money in the account as soon as possible, says Vestre.
He praises the Brønnøysund registers, which have quickly put the scheme in place.
– KRED: Vestre in Teams meeting with the Brønnøysund registries and the company Kred AS, which are some of the first to use the new scheme. Photo: Truls Aagedal / TV 2
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– Now I am very happy that this is in place, and that companies today can apply for support for fixed unavoidable costs and compensation for lost inventory, he says.
Financial support
Although the government has now opened up somewhat, many industries have suffered from the national liquor ban and restrictions on the public.
The purpose of the compensation scheme is that companies that have had a loss of income of 30 per cent or more, in November, December and January, can receive financial support from the state.
The scheme covers up to 85 percent of fixed unavoidable costs. In February, the maximum coverage rate is reduced to 70 percent.
– Many companies have had it difficult through the pandemic. What is important is to secure as many jobs as possible and keep the activity up and contribute to predictability for the companies, says Vestre.
Some changes
Following input from the business community, the compensation scheme has been adjusted and extended until February.
– We will require companies to repay subsidies if they make a profit or make distributions such as dividends, says the Minister of Trade and Industry.
The compensation scheme
Covers up to 85 percent of fixed costs for companies that have had a drop in turnover of 30 percent or more, compared with 2019.
The subsidy to a company depends on how large the fall in turnover has been.
A company / group can receive a maximum of NOK 4 million in grants for November and February, and NOK 7.5 million in grants for December and January.
From November 2021, the total ceiling has been raised from NOK 100 million to NOK 120 million.
From November 2021, grants will have to be repaid in full or in part if you made a profit of at least NOK 50,000.
All applications must be confirmed by an auditor or certified public accountant before they are submitted.
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Automatic solution
The Brønnøysund Register Center is responsible for developing and managing the subsidy scheme.
The solution is automatic, and companies that apply can expect money in the account on the same day if they use the same bank as the Brønnøysund registers, or within a couple of working days – depending on which bank they use.
On kompensasjonsordning.no there is information about all grants that have been given and who has received them.
– The work has been intense and educational for us. Together with NFD, the Norwegian Directorate for Digitalisation, Regnskap Norge and the Auditors’ Association, we have worked hard to get this done, says Kristine Aasen, Director of Communications at the Brønnøysund Register Center, in a press release.
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