NEW GRANT PROGRAMME FOR ENTERPRISES AFFECTED BY THE ANTI-EPIDEMIC MEASURES

The Working Capital Support Programme for SMEs affected by temporary counter-epidemic measures has been launched. The aim of the programme is to provide grants in the short term to address the economic impact of the COVID-19 pandemic.

For your convenience, we present the terms and conditions of the programme in summary question and answer format:

1. Who can apply?

Beneficiaries can be companies or sole traders, cooperatives, as well as associations and foundations that are registered no later than 01.10.2020 and are:

• Micro-enterprises – have a staff of up to 10 people, an annual turnover of up to BGN 3 900 000 and/or an asset value of up to BGN 3 900 000;
• Small enterprises – have up to 50 employees, annual turnover up to BGN 19 500 000 and/or asset value up to BGN 19 500 000;
• Medium-sized enterprises – have less than 250 employees, an annual turnover of up to BGN 97 500 000 and/or an asset value of up to BGN 84 000 000.

2. Are there additional conditions for applicants?

Yes, it is a prerequisite that the applicant’s activity has been suspended in whole or in part, pursuant to an act of a public authority (the orders of the Minister of Health imposing restrictions on certain activities can be found here). This includes shops in shopping centres, restaurants, confectioneries, drinking establishments, gaming halls, fitness centres, etc.

3. What is the maximum value a beneficiary can receive?

The maximum value of the grant awarded is BGN 150 thousand per enterprise. The applicant shall submit one project which includes all its sites affected by the measures.

4. How is the exact amount of aid calculated?

The aid is equal to 10% or 20% of the turnover of the specific establishments recorded for the period of 2019 corresponding to the period during which the establishments have ceased activity in that year due to the anti-epidemic measures in place. The specific amount of aid depends on the type of activity carried out by the establishment.

If the establishments were not operational in 2019, i.e. their activity started after 1 January 2020, the basis for determining the aid is the turnover for October 2020.

5. What will be the eligible costs?

The funds granted under the scheme can be used to cover the applicants’ running costs and to incur operating capital costs (i.e. raw materials, external services, wages, etc.).

Funds may not be used for the acquisition of tangible fixed assets or goods for resale.

6. Until when can I apply?

The deadline for the submission of project proposals is 20.01.2021.

If you need assistance in obtaining support under the programme – from assessing whether your business can benefit from it, to preparing and submitting the necessary documents, to following up on the progress of production – do not hesitate to contact us.