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Extra support for firms that are suffering an extreme fall in turnover due to the corona crisis

Extra support for firms that are suffering an extreme fall in turnover due to the corona crisis The Flemish Government has announced new measures to offer support to companies that are suffering an extreme fall in turnover due to the coronavirus crisis. Unlike during the first wave of the pandemic the measures announced on Friday will see companies being given support according to the level with which their turnover has declined due to the virus and the measure taken to curb its spread. 

During the first wave companies were given set amounts that were the same regardless of how much their turnover had declined as a result of the lockdown and other measures that were brought in in order to contain the virus.

In order to stem the in the number of new cases of the virus National Security Council tighten the measures to curb its spread. Last week the Provincial Governor brought in stricter measures that are applicable to those living in Antwerp Province. These include a curfew between 11:30pm and 6am.

The hospitality, events and tourism industries have been and are being particularly adversely impacted by the measures. Under the measures announced by the Flemish government on Friday companies whose turnover between 1 August and 30 September is down 60% compared with the same period last year will be able to apply for financial support. They will be apply to apply from 30 September. The level of support is set at 7.5% of a company’s turnover in the months of August and September last year with an upper limited of 15,000 euro having been set. The subsidy is halved for those that have another job and that are self-employed part-time.  The Flemish Employment Minister Hilde Crevits (Christian democrat) and the Flemish Prime Minister Jan Jambon (nationalist) stressed that the aim is to protect companies that were financially sound before the crisis from bankruptcy.

The new measures are budgeted at 80 million euro. In order to help the events industry that has been hit harder than most, the Flemish Government will advance two month’s rent to companies in the sector that rent warehouses or buildings. The condition is that the owner of the building allows their tenant either 1 or 2 months’ rent-free tenancy. The maximum amount that the government will advance for this purpose is 35,000 euro.

The Flemish Prime Minister (who is also Culture Minister) called on local authorities to look at events in a correct and creative” way. Mr Jambon believes that “With the necessary creativity we can let a lot of events go ahead in a corona-safe wa

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