Factsheet for case GR-2020-37/1292 – measures in Greece
, applies regionally
|Time period||Temporary, 10 September 2020 – 18 March 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Direct subsidies (full or partial)
|Author||Penny Georgiadou (INE GSEE)|
|Case created||20 October 2020 (updated 03 November 2020)|
Οn September 2020, a €650 million programme co-financed from European resources (European Regional Development Fund - ERDF), supporting micro and small enterprises was activated in 13 regions affected by the coronavirus outbreak. The 13 regions are: Attica, Central Greece, Crete, Eastern Macedonia and Thrace, Epirus, Ionian Islands, North Aegean, Peloponnese, South Aegean, Thessaly, Western Greece, Central Greece and Western Macedonia. The public support will take the form of direct grants of working capital based on the percentage of the expenses that the beneficiaries had in 2019. The maximum percentage of the company's expenses to be subsidised is 50%. The purpose of the scheme is to support micro and small enterprises that are facing a sudden liquidity shortage due to the coronavirus outbreak.
The government funding of the small and very small enterprises is accepting applications, from businesses that employ less than 50 employees. Public funding covers Working Capital equal to 50% of the company's costs in 2019 with a minimum grant amount of €1,500 up €5,000 (which is differentiated between the regions of Greece) and a maximum of €15,000 up €50,000. The amounts on which each specific grant will be calculated shall be derived from the sum of:
The calculation of the corresponding working capital (public financing) is derived from the sum of the amounts declared above and the grant covers the 50%.
Also the companies submitting a proposal should:
There is no information. The programme is in progress
|Does not apply to workers||
||Does not apply to citizens|
Company / Companies
Local / regional government
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement||No involvement|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
There is no involvement of social partners.
According to the President of the Athens Chamber of Tradesmen (EEA), although the measure is positive for enhancing the liquidity of the enterprises, nevertheless the requirements of the programme do not allow to thousands of small and medium-sized enterprises, as well as self-employed persons to participate. On the other hand, the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) strongly supports this action
Eurofound (2020), Working capital grants for micro and small enterprises, case GR-2020-37/1292 (measures in Greece), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.