Covid-19 Business Support: New Announcements on October 8, 2020

On October 8, Bruno Le Maire, Minister of the Economy, and Alain Griset, Minister Delegate in charge of SMEs, announced new support measures for companies impacted by the health crisis.

The Ministry of the Economy wants to support new categories of companies

Bruno Le Maire and Alain Griset have just announced that access to the "tourism recovery plan" open to companies and associations active in tourism, events, sports and culture, as well as those in the cafés, hotels and restaurants sector will be extended to new beneficiaries who have an activity strongly linked to tourism or events.

Will thus be concerned :

- non-food businesses in international tourist areas;

- tourism companies with certain know-how and labels;

- booksellers on the quays of Paris;

- companies manufacturing scenic, audiovisual and event-related materials;

- service providers specializing in the design and layout of stands;

- graphic designers working in the event industry.

The conditions of access to the solidarity fund are relaxed

Another announcement concerning the sectors covered by the "tourism plan": the solidarity fund will be extended to companies with less than 50 employees, without any turnover conditions.

Thus, in these sectors, the conditions for accessing the solidarity fund are now :

- for companies that justify a loss of more than 50% of their turnover, they will still have access to part 1 of the solidarity fund, in its current form, up to €1,500 per month.

- for companies that justify a loss of turnover of more than 70% (compared to 80% previously), the aid will be up to €10,000 within the limit of 60% of turnover.

Please note. These new measures complement the adjustments announced a week ago to support companies that are subject to administrative closure or new health restrictions.

- For companies closed administratively, a monthly aid may be paid on a pro rata basis for the duration of the closure equal to the monthly turnover of the year N1 up to a limit of €10,000 per month.

These measures are operational from the day the sanitary restrictions are taken and the payment of the aid will be made from the end of October.

So much for announcements. Of course, the precise content and scope of the measures remain dependent on texts to be published.

Ministry of the Economy, Finance and Recovery of October 8, 2020, No. 265

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