Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure BE-2020-14/1803 – measures in Belgium
, applies regionally
|Time period||Temporary, 01 April 2020 – 30 September 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Dries Van Herreweghe (Katholieke Universiteit Leuven) and Eurofound|
|Measure added||02 April 2021 (updated 20 September 2022)|
Some sectors are experiencing very heavy decreases in turnover during the crisis. The Flemish Government is therefore providing support to save intrinsically sound businesses from bankruptcy and help the affected sectors to stay afloat. Companies with a turnover decrease of at least 60% in 2020 and accounting losses can appeal to the globalisation mechanism. This is an aid amount of 10% of the turnover during the reference period, excluding VAT.
Not every company or organisation can apply, several conditions are necessary:
The support consists of:
Up until the last update (3 June 2021), 3 companies were granted the support.
|Does not apply to workers||Applies to all businesses||Does not apply to citizens|
Local / regional government
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
Unclear, not mentioned online.
EO UNIZO has released a public statement to express the fact that they are pleased with the measure to support their members. UNIZO also believes it is good that the aid is made dependent on a number of individual parameters, such as the employment and the loss of turnover in the company. However, this can make the application more difficult, they therefore advise companies to discuss it with an accountant or other professional.
Eurofound (2021), Globalisation mechanism, measure BE-2020-14/1803 (measures in Belgium), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/BE-2020-14_1803.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.