Government to Repay Companies for Significant Majority of Revenue Shortfall
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Germany's government is gonna hook up biznesses hit by the lockdown with some serious cash, according to Bild newspaper. The Finance Minister, Olaf Scholz, allegedly dropped the deets during a meeting at the Federal Chancellery.
He's talking about bridging and stabilization aids, and small businesses might score up to 75% of their previous year's turnover. Larger businesses wouldn't be left dry either, as they could get up to 70%. No fancy paperwork required, seem like.
Bild estimates the cost for this four-week plan could be between 7-10 billion euros. This ain't the first time the government's stepped in to save businesses; they rolled out the Novemberhilfe last year, which offered up to 75% of lost revenue to businesses hit hard by lockdowns. This scheme had an initial budget of €30 billion and extended well into January 2021.
Now, you don't need to be a financial whiz-kid to understand this game. The government's throwin' some dosh at businesses to keep 'em afloat during these trying times. And that's a pretty solid move, ain't it? So, let's cheer for our German biznesses! 🍻🤘
Other businesses that may be struggling due to the lockdown could find financial relief from the government's latest aid package. The upcoming funding could help support the stability of the overall business sector.
