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Factsheet for measure PL-2021-1/1640 – Updated – measures in Poland

Financial Shield 2.0: Small and medium-sized enterprises

Tarcza Finansowa 2.0: małe i średnie przedsiębiorstwa

Country Poland , applies nationwide
Time period Temporary, 01 January 2021 – 28 February 2021
Context COVID-19
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Direct subsidies (full or partial) or damage compensation
Author Jan Czarzasty (Warsaw School of Economics)
Measure added 31 December 2020 (updated 29 September 2023)

Background information

After the Financial Shield 1.0 was impelemented from April 2020 onwards see case PL-2020-20/806 as the follow-up programme has been devised.

Just like to original regulation, the follow-up is based on the Act amending the Act on the System of Development Institutions facilitating public support programme commonly referred to as the Financial Shield, operated by the Polish Development Fund (Polski Fundusz Rozwoju). The programme is divided into specific sub-sets of measures targeting 1) micro, small and medium firms and 2) large firms. The former is further divided into two segments a) micro firms and b) small and medium firms.

Content of measure

The main characteristics of the measure are as follows:

  1. Target: enterprises with 10 to 249 employees and and a turnover of less than €50 million or a balance sheet total of less than €43 million, operating in 38 industries subject to restrictions from the Polish Classification of Activities (PKD);
  2. Conditions of eligibility: decrease in turnover by at least 30% in the period April-December-or in the 4th quarter of 2020 compared to the same period in 2019.

  3. Further conditions:

  4. subsidy is paid in the amount of 70% of the gross loss (before tax) of the enterprise for the period from November 2020 to March 2021 (January-March 2021 based on forecasts);

  5. maximum amount of the subsidy is PLN 3.5 million and not more than PLN 72,000 per employee;
  6. foreseen allocation is PLN 6.5 billion (for the whole Financial Shield);
  7. subsidies will be released between 15 January and 28 February 2021;
  8. applications can be submitted electronically at 18 banks.

Updates

The following updates to this measure have been made after it came into effect.

21 May 2021

The application window remained opened until the end of February 2021.

07 January 2021

Seven more branches were added to the list, making the number to rise to 45 from the initial 38.

Use of measure

Not known yet.

Target groups

Workers Businesses Citizens
Does not apply to workers SMEs
Larger corporations
Does not apply to citizens

Actors and funding

Actors Funding
National government
National funds

Social partners

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:

  • No involvement
  • Main level of involvement: N/A

Involvement

None.

Views and reactions

The views are predominantly critical. Social partners see the measures as not adequate.

Sectors and occupations

    • Economic area Sector (NACE level 2)
      C - Manufacturing C17 Manufacture of paper and paper products
      C18 Printing and reproduction of recorded media
      G - Wholesale And Retail Trade; Repair Of Motor Vehicles And Motorcycles G47 Retail trade, except of motor vehicles and motorcycles
      H - Transportation And Storage H49 Land transport and transport via pipelines
      I - Accommodation And Food Service Activities I55 Accommodation
      I56 Food and beverage service activities
      J - Information And Communication J59 Motion picture, video and television programme production, sound recording and music publishing activities
      M - Professional, Scientific And Technical Activities M73 Advertising and market research
      M74 Other professional, scientific and technical activities
      N - Administrative And Support Service Activities N77 Rental and leasing activities
      N79 Travel agency, tour operator and other reservation service and related activities
      N82 Office administrative, office support and other business support activities
      P - Education P85 Education
      Q - Human Health And Social Work Activities Q86 Human health activities
      R - Arts, Entertainment And Recreation R90 Creative, arts and entertainment activities
      R91 Libraries, archives, museums and other cultural activities
      R93 Sports activities and amusement and recreation activities
      S - Other Service Activities S96 Other personal service activities

This case is not occupation-specific.

Sources

Citation

Eurofound (2020), Financial Shield 2.0: Small and medium-sized enterprises, measure PL-2021-1/1640 (measures in Poland), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/PL-2021-1_1640.html

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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.