Altmaier wants to support small and medium-sized companies

by Thorsten Koch

Federal Minister of Economics Peter Altmaier (CDU) would like, in the near future, to support crisis-hit companies with up to 249 employees more than was the case with the first immediate measures. According to a ministerial paper, certain companies should be able to apply for monthly grants so that their existence remain secure. The grants would flow from July to December and, in some cases, could reach up to 50,000 Euros. Companies from all industries, as well as solo self-employed and freelancers, would be entitled to file the appropriate applications, provided one condition is met: turnover must have decreased between April and May, compared to the period of comparison in 2019.

The Ministry fears closures of enterprises in many cases. The ministry’s paper assumes that bridging measures will cost up to 25 billion Euros. In the Corona crisis, the compounded number of infection will be continue to be monitored, the paper said.

The Federal Association of Small and Medium-Sized Businesses (BVMW) has meanwhile demanded debt relief for small businesses and solo self-employed people. The government is to provide solutions to prevent bankruptcies, said SME President Mario Ohoven. Ohoven rejected the SPD’s proposal to pay a subsidy of over 300 Euros for each child, naming it “helicopter money”. Such models are an emergency solution and should only be used when other fiscal policy measures have been exhausted, the BVMW said.

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