Entrepreneurs to get unemployment benefit

The government has proposed to amend the existing legislation to allow entrepreneurs whose businesses have been adversely affected by the novel coronavirus outbreak to apply for unemployment benefits, said an official press release.

The entrepreneurs interested to get the benefits retroactively need to apply for them by April 15, reported the national broadcaster Yle.

If the application is made after the deadline, the benefits will only take effect from the application date.

The proposal seeks to extend the right to the unemployment benefit to all entrepreneurs, including those who have employees on the payroll.

According to the existing law, entrepreneurs need to shut down their business, if they want to draw unemployment benefits.

The proposed new rules will allow entrepreneurs to enjoy e the unemployment benefits without closing down their business.

They will also be entitled to earn from their ongoing business without losing the entire benefit.

The government has earmarked 160 million euros for the expansion of the unemployment benefit scheme, based on the assumption that 55,000 entrepreneurs will apply for the support, said the Yle report.

The amended law is expected to come into effect immediately and will be in force until the end of June.

The government will also run another financial package for entrepreneurs to run their business during the coronavirus pandemic.