How do governments help entrepreneurs abroad? In Britain they will give them three times over 76 thousand

How do governments help entrepreneurs abroad? In Britain, they will give them three times over 76 thousand

In Britain, for example, they offer self-employed people support of up to 2,500 pounds (76,700 crowns) per month for three months, in Germany entrepreneurs can apply for up to 15,000 euros for the same period ( 416 thousand crowns) per month. The Czech government has already presented some steps, but it will still discuss a one-time contribution of 25,000 crowns for self-employed people.

Great Britain

Entrepreneurs in Great Britain will receive 80 percent of monthly income up to 2,500 pounds (76,700 crowns) per month, for at least three months.

The ministry has previously announced that it will pay up to £2,500 a month to the wages of staff who are on forced leave as a result of the epidemic.

"Cleaners, plumbers, electricians, musicians, hairdressers and many other self-employed persons (SOVČ) who are entitled to this assistance can apply for it directly at the financial administration through a simple online form, stating that the money will go directly into their account,” the British Treasury said on its website.

Slovaks can request a postponement of loan repayments for up to nine months Economy

Unlike the Czech Republic, the British tax administration directly contacts taxpayers who are entitled to help and provides them with information on how to apply for it.

"The self-employed represent a key part of our workforce who are naturally waiting for reassurance and support in the current state of emergency," British Chancellor of the Exchequer Rishi Sunak said.

The British also introduced their own version of kursarbeit. For at least three months starting March 1, 2020, the government will reimburse employers 80 percent of the wage costs of each employee who cannot work due to the epidemic. This contribution is also capped at 2,500 pounds (76,700 crowns) per month. The state will also take care of pension contributions and unemployment insurance.

Companies are also entitled to defer all value added tax (VAT) payments between March 20 and June 30.

For a one-time compensation of 25,000, many entrepreneurs will not be able to reach Coronavirus

In order for even larger companies to have enough liquidity, the central bank has set up a mechanism to help them weather the crisis with the help of bridging loans of up to five million pounds (155 million crowns) with a maturity of up to six years.

The government will guarantee 80 percent of the principal of each loan. A total of 40 accredited banks and other companies can provide loans.

The government will also support businesses with a payment to compensate for business interruption. This should cover 12 months of loan repayments and other bank fees. The intention is to make it easier for smaller entrepreneurs to repay their obligations.

Britons can find all measures to support the economy clearly summarized in one place directly on the government's website.

Germany

In Germany, in connection with the economic crisis due to the global pandemic of the covid-19 disease, they approved a package of special measures for which the federal government allocated half a trillion euros (13 trillion crowns).

The Federal Ministry of Economy has set up a website for entrepreneurs with information on possible assistance.

For the survival of the smallest entrepreneurs, the government introduced an immediate aid program. Entrepreneurs with up to five employees can apply for a financial contribution of up to 9,000 euros (250,000 crowns) per month for up to three months. Entrepreneurs with up to ten employees can apply for a one-time contribution of 15,000 euros (416,000 crowns). For these purposes, the state allocated 50 billion euros (1.4 trillion crowns).

Short time. A German invention is spreading through EuropeEconomics

The package includes tax breaks for entrepreneurs and deferrals of tax obligations. If the company cannot afford to pay taxes for this year due to the economic effects of the epidemic, they can apply for a freeze until the end of December. Entrepreneurs then do not have to pay any penalties or interest.

For large companies, the government will provide guarantees for loans in the total amount of up to 600 billion euros (16.7 trillion crowns).

At the beginning of March, the German Bundestag approved legislation that eases the conditions of short-term work. It awards the company reimbursement of employee expenses at the moment when the economic crisis affects a tenth of its employees.

Berlin saves small entrepreneurs. Self-employed 139 thousand, small company 416 thousandCoronavirus

In the past, the conditions were stricter, kursarbeit was paid if the crisis affected at least a third of the company's workforce. The German cabinet assumes that the state will finance the wages of 2.35 million employees.

USA

The American government is preparing support in the form of a loan program for which it has allocated 350 billion dollars (over 8.9 trillion crowns). However, banks signal that they are not ready for such a program.

"They are not prepared at all and are desperately waiting for instructions on how to do this," said MultiFunding CEO Ami Kassar. "I think it's going to be pretty chaotic for a few weeks," he added.

The United States is preparing to fight the economic crisis of 54 trillion. Another part of the package is the expansion of unemployment benefits as well as direct payments to millions of Americans who earn less than $75,000 (1.8 million crowns) a year. The government will send them support in the amount of up to 1,200 dollars (30,000 crowns).

Unemployment support will increase by $600 (15,000 crowns) per week for four months, the Vox server reported. In January, according to the Business Insider server, the average unemployment benefit was $385 (9,600 crowns) per week.

The law also allows the self-employed and people employed on an agreement to apply for unemployment benefits. Those in the US are not normally entitled to this benefit, but now they will have it for up to 39 weeks.

Slovakia

The Slovak government of new Prime Minister Igor Matovič (OLANO) also wants to help companies and entrepreneurs who have been negatively affected by the crisis surrounding the coronavirus pandemic.

The government is introducing a job retention allowance for employers. The state reimburses 80 percent of an employee's salary to companies that were forced to close operations.

"We want to create conditions so that it is more profitable for the employer to keep the job than to fire the employee," explained Minister of Social Affairs Milan Krajniak (We are a family).

Employees who interrupt or limit their activities due to an emergency situation will also be entitled to a contribution. The condition will be the continuation of the trade even after the end of the emergency situation.

Slovaks can request a postponement of loan repayments for up to nine months Economy

Businessmen and employees of companies that have experienced a decrease in sales will receive a contribution depending on the amount of the decrease. For a decrease in sales of more than 20 percent, the contribution is 180 euros (5,000 crowns), for a fall of more than 40 percent, 300 euros (8,200 crowns), in the case of a fall in sales of more than 60 percent, it will be 420 euros (11,500 crowns), and for a fall of more than 80 percent, the contribution will be amount to 540 euros (14,750 crowns).

If the company's profit fell by more than 20 percent from March 13 to 31, 2020, the state will contribute 180 euros (5,000 crowns) to the entrepreneur or employee, for a fall of more than 40 percent 300 euros (8,200 crowns), in the case of a drop in sales for more than 60 percent, it will be 420 euros (11,500 crowns) and for more than 80 percent decrease, the contribution will be 540 euros (14,750 crowns). Sales will be compared with the same period in 2019. If the crisis continues, the government will take similar measures next month.

Matovič wants to limit the free movement of people in Slovakia at Easter Europe

The state also guarantees the provision of bank guarantees in the amount of 500 million euros (13.67 million crowns) per month so that banks are able to refinance entrepreneurs. Furthermore, the government approved the postponement of income tax advances in the event of a decline in sales of more than 40 percent for April and more than 20 percent for March.

The Cabinet also approved, for example, the extension of the payment of nursing allowance in the amount of 55 percent of the gross salary for the entire period of childcare when schools and preschools are closed due to an emergency situation. In connection with the pandemic, the social insurance company will pay sick benefits from the first day of the quarantine.

Czech Republic

The Czech government approved short work at the end of March, the state should pay employers two types of wage allowance.

Kurzarbeit is not racing. It will reach everyone, says MaláčováDomácí

For example, a program of interest-free loans with a state guarantee for entrepreneurs affected by the coronavirus has also been launched. The interest is enormous. Czech Moravian Guarantee and Development Bank (ČMZRB) in the first round - in which Prague citizens could not apply - accepted applications from entrepreneurs for interest-free loans in the amount of 19 billion crowns.

Among the measures intended to relieve affected entrepreneurs is the suspension of the obligation to register sales electronically (EET) for the entire duration of the state of emergency and for the following three months, or a general waiver of fines for late submission of income tax returns and a general waiver of interest on delay until July 1, 2020. Affected entrepreneurs should also be able to defer three leases for up to two years.

Government: Postponement of three rents for two years for entrepreneursEconomics

The government also proceeded to waive the June advance payments on the income tax of natural and legal persons and to forgive some payments for the self-employed.

Controversy was sparked by a one-off contribution of 25,000 crowns for the self-employed, which, according to the original parameters, a large part of the affected entrepreneurs would not have been able to reach. After a wave of criticism, Finance Minister Alena Schillerová (for ANO) promised to change the parameters.

In a nutshell: How the government wants to help entrepreneurs and the economyKoronavirus

Criticism of the cabinet was also heard, for example, from the Chamber of Commerce, according to which the government places too much emphasis on "vigorous media presentation" and neglects to think through specific steps.

“I'm afraid we don't need new press conferences every day about the preparation of new programs. We would prefer if the existing measures were transferred into concrete implementation practice as quickly as possible," stated the head of the chamber, Vladimír Dlouhý.

yknivoNumanzeSaNyknalC