The COVID-19 restrictions imposed in November are impacting on many businesses and self-employed people. To support them, the German government has launched swift, unbureaucratic assistance worth up to 10 billion euros. Federal Economic Affairs Minister Peter Altmaier and Federal Finance Minister Olaf Scholz have now unveiled the details of the exceptional financial assistance scheme.
Support during the pandemic. the German government has launched assistance for the month of November.
On a blue background the diagram is headed "Exceptional financial assistance in November".
Under the heading are three bullet points:
Support for businesses, companies, self-employed individuals and institutions affected by temporary closures in November
Subsidies equivalent to up to 75 per cent of average weekly turnover in November 2019
Own-account workers, including artists, can otherwise base their claim on their average weekly turnover in 2019
Foto: Bundesregierung
The exceptional financial assistance for the month of November offers broad central support for companies, businesses, the self-employed, associations and institutions that are particularly hard hit by the latest COVID-19 restrictions. The details have now been unveiled by Federal Finance Minister Olaf Scholz and Federal Economic Affairs Minister Peter Altmaier.
The German government is thus supporting businesses and self-employed individuals who are directly and indirectly affected:
Businesses directly affected include businesses, self-employed individuals, associations and institutions which have been required to suspend their business operations as a result of the decision taken by the federal and state governments on 28 October 2020. Hotels are deemed to be directly affected businesses. Indirectly affected businesses include all those that can provide evidence that they regularly generate 80 per cent of their turnover from their business with companies that are directly affected by closures.
The interim financial assistance is to be extended and significantly improved for the worst affected branches. KfW rapid loans are to be made available to companies with fewer than 10 employees. The rules apply to businesses, the self-employed and own-account workers – especially but not exclusively those working in the cultural and events sector.
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