Central Macedonia Backs Covid-19-hit Businesses with €150m

The Central Macedonia Region recently announced that it would be allocating 150 million euros to local businesses, tourism enterprises included, impacted by the coronavirus (Covid-19) pandemic.

Central Macedonia Governor Apostolos Tzitzikostas announced the immediate non-repayable funding, which he said will facilitate liquidity and serve as starting capital for enterprises to address the repercussions of Covid-19.

The aid comes on top of government support packages, said Tzitzikostas during a press conference.

“The country’s economy could not remain closed or can it close again. Northern Greece, after the drop in tourism, surpassing our worst scenarios, and the inevitable cancelation of the Thessaloniki International Fair, has suffered a severe blow,” said Tzitzikostas.

The funding concerns small and very small businesses employing fewer than 50 people and based in Central Macedonia which were affected by the coronavirus crisis.

Payments will be paid from 1 January 2021 to 31 March 2021 following approval of applications and should be declared in the following year’s tax declaration.

“Eligible are only those business that on the last day of the month prior to the application for funding retained the same number of employees as in the previous year,” said Tzitizikostas.

Qualified parties will also have to provide documentation that they have not filed or entered bankruptcy procedures.

The scheme provides eligible companies with working capital in the form of grants and covers an amount equal to 50 percent of expenses for 2019.

The non-repayable funding ranges from 5,000 euros to 50,000 euros.

Companies with expenses under 10,000 euros are not eligible for the grants, while those with expenses exceeding 100,000 euros will be subsidized with 50,000 euros.

The opening of the application procedure will be announced in the coming period.

Tourism enterprises

Photo Source: @ Region of Central Macedonia

Enterprises active in tourism with the following Activity Code Numbers (KAD) have been included in the support scheme and will be able to apply for grants.

– code 55.10 – hotels and accommodation facilities

– code 79.11 – travel agencies

– code 79.12 – tour operators

– code 82.30 – conferences and trade fair organizers

– code 84.13.15 – administrative services related to distribution in trade and catering, hotels and restaurants

– code 84.13.16 – administrative services related to tourism

– code 91.02 – museum activities

– code 91.03 – operation of historic sites and buildings, and other visitor attractions.