Enhancing Federal Assistance for the Remarkable Recipients
The German government is considering modifications to its bridging aid program, designed to support small and medium-sized businesses (SMEs) affected by the economic fallout from the COVID-19 pandemic.
The bridging aid, known as Überbrückungshilfe, is a significant part of the federal government's economic stimulus program. Launched during the pandemic, this financial support program aims to help SMEs cope with liquidity issues caused by lockdowns and restrictions.
According to a report by the Federal Ministry of Economics to the Bundestag, the proposed changes aim to simplify access, extend aid periods, and increase amounts to better support companies until recovery.
One of the key changes under consideration is the relaxation of granting conditions for bridging aid. Companies, especially those in the event industry, could potentially receive a higher grant. The government is also considering abolishing the previously planned "cap amounts" for grants, which could benefit smaller companies with ten or fewer employees.
Retailers can look forward to submitting applications for improved bridging aid starting in October. However, the specific details of these changes are yet to be finalised and announced.
It's important to note that only a fraction of the 24.6 billion euros earmarked for bridging aid has been claimed so far. The focus of the aid has been on "bridging aid" which has been distributed sparingly.
The aid is intended to protect businesses from the economic consequences of the pandemic, cushioning corona-related losses in turnover for SMEs. The event industry, however, is facing an existential threat and requires more comprehensive aid measures.
For the latest official updates on the "bridging aid" program changes, it is recommended to check the announcements from the German Federal Ministry for Economic Affairs and Climate Action or official government COVID-19 economic support portals.
The German government is planning to simplify access and extend aid periods for the bridging aid program, known as Überbrückungshilfe, which is a crucial part of the economic stimulus program. This financial support, initially launched to help small and medium-sized businesses (SMEs) cope with liquidity issues caused by the pandemic, now aims to offer more help to other businesses, such as those in the event industry.
The proposed changes could potentially allow companies in the event industry to receive a higher grant and could benefit smaller companies with ten or fewer employees, as the government is considering abolishing previously planned "cap amounts" for grants.
