Factsheet for case PT-2021-3/1732 – measures in Portugal
|Country||Portugal , applies nationwide|
|Time period||Open ended, started on 12 January 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Heloisa Perista and Maria da Paz Campos Lima (CESIS) and Eurofound|
|Case created||19 January 2021|
The containment measures that were implemented to mitigate the spread of COVID-19, also aim to pave the way to a gradual return to economic activity. Although, these same measures had an unprecedented impact on the entirety of the tourism sector.
With a view to the immediate introduction of specific public support mechanisms for the tourism sector in order to safeguard the full activity of companies and their human capital, Normative Order 4/2020, of 20 March, created the Support Line for Tourism Microenterprises. The performance of that Line was reinforced through Normative Order 10/2020, of 11 August.
The current epidemiological situation, as well as the measures recently adopted for prevention, containment and mitigation of infection, justify a new update of the support line for micro tourist companies, through the introduction of a set of changes that, in the current context, ensure continuity of access to liquidity by economic agents, thus minimizing the significant disruptions in its activity resulting from public health and safety imperatives.
Normative Dispatch 1/2021, of 11 January, creates a financial support line for micro and small tourist companies aimed at meeting the cash flow needs of micro and small tourist companies whose activity is strongly affected by the economic effects resulting from the outbreak of the disease COVID-19.
The maximum budget available is €100 million, broken down as follows: micro-enterprises: €90,000,000; and small businesses: €10,000,000.
The financial support to be granted under this line is in the nature of repayable support, without any associated remuneration interest. This support corresponds to the value of € 750 per month for each existing job in the company on 29 February 2020, in the case of micro-enterprises, or on 30 November 2020, in the case of small companies, multiplied by a period of three months, up to a maximum amount of €20,000 or €30,000, depending on whether they are micro or small companies, respectively.
The financial support is reimbursed within three years, counting from the date of conclusion of the respective contract, including a grace period corresponding to 12 months.
The amount corresponding to 20% of the total amount of support can be converted into non-refundable, provided that, on the date of 30 September 2021, and by comparison with 29 February 2020, in the case of micro-companies, or with 30 November 2020, in the case of small companies, the company has not terminated employment contracts under the terms of collective dismissal, dismissal due to extinction of the job or dismissal due to unsuitability, nor has it started the respective procedures.
Financial support is granted under the de minimis aid scheme.
|Does not apply to workers||
Sector specific set of companies
One person or microenterprises
|Does not apply to citizens|
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:
The social partners were informed at the Standing Committee for Social Concertation.
|Economic area||Sector (NACE level 2)|
|I - Accommodation And Food Service Activities||I55 Accommodation|
|I56 Food and beverage service activities|
This case is not occupation-specific.
Eurofound (2021), Financial support line for micro and small tourist companies, case PT-2021-3/1732 (measures in Portugal), 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.