Companies in all sectors eligible for coronavirus business support

The government on Friday issued a decree on the sectors that can apply for support without providing further justification.

The support for business costs is intended for all companies whose turnover has decreased by at least 30 per cent due to the COVID-19 pandemic, said a press release of the Ministry of Economic Affairs and Employment.

If a company does not operate in one of the sectors defined in the decree, it must justify the need for support and provide an account of the loss of turnover due to COVID-19.

“The listing of sectors in the government decree will help speed up the processing of companies’ applications at the State Treasury. Companies can apply for the support if their turnover has decreased by 30 per cent during the reference period,” said Minister of Economic Affairs Mika Lintilä.

The list in the decree covers those sectors whose turnover decreased by at least 10 per cent between June and October 2020 compared to that in the corresponding period of 2019.

The decrease in companies’ turnover will also be calculated based on these reference periods. For companies established on or after 1 May 2019, the reference period is from 1 January 2020 to 28 February 2020.

Amendments to the Act on Support for Business Costs entered into force on 15 December 2020.

Companies can apply for support from the State Treasury starting on 21 December 2020. The application cycle will remain open until 26 February 2021.

This second round of applications for support covers 220 sectors, whereas 365 were listed in the first round.

The State has reserved EUR 550 million for the second round of applications, but the estimate of the appropriation needed is uncertain and may not be used in whole. The use of the appropriation depends on the number of companies meeting the criteria for support and their costs.