Which companies earn free working capital up to € 50,000

These funds will increase in the immediate future as they correspond to commitments on 9 of 13 regions of the country and the announcement of the respective aid schemes by the other four.

It should be noted that this amount is the largest ever given as direct aid to businesses in the form of working capital. It is pointed out that the money will be given in the form non-refundable aid, which means they are not returned.

The active announcements

Currently, The programs for strengthening the regions of Attica have been aired, Central Macedonia, Western Macedonia, Mainland Greece, Of Western Greece, Of Crete, Peloponnese, North Aegean and Ionian Islands.

The largest amount, amounting to 200 million. euro, will be given by region of Attica followed by Central Macedonia with 150 million. euro, Crete with 50 million. euro, Western Greece with 30 million. euro, the Peloponnese with 30 million. euro, the North Aegean with 25 million. euro, of the Ionian Islands with 14 million. euro, Central Greece with 10 million. euros and Western Macedonia with also 10 million. euro.

In everything,τι αφορά τα limits of the aid, these range from 5.000 to 50.000 euros for the regions of Attica, Central Macedonia, Western Macedonia, Western Greece and the North Aegean. For Crete and the Ionian Islands, the limits range from 3.000 to 40.000 euro, for Central Greece from 4.000 to 40.000 euros and for the Peloponnese from 4.000 to 50.000 euro.

Form of aid

Public funding covers working capital equal to 50% of business expenses during the year 2019, with a minimum and maximum amount as provided per region.

The amounts on which the above percentage will be calculated (50%) resulting from the sum:

• of Consumer Goods Markets
• of Purchases of Raw Materials and Consumables
• of total Expenditures for Provision of Services
• of the total Rents paid in use by the company
• of all Employee Benefits (except those engaged in Agricultural Biological activities)
• Various Operating Expenses

Specifically, the calculation of the corresponding working capital (public funding) results from the sum of the following amounts of the fields of the E3 form of the previous year (use 2019): 102, 202, 181, 281, 481, 185, 285, 485 multiplied by 50%.

In case the result is higher than the maximum allowed per region, the corresponding public funding is set at the level of the maximum planned funding, while in case the result is less than the minimum predicted, participation in the action is not possible.

The beneficiaries

Existing small and micro enterprises are eligible to receive the grant, legally operating in the above regions and in the KADs that are included in the detailed invitations and their legal form is one of the following:

i. SA, ii. Limited liability company, iii. General partnership, iv. Limited partnership, v. Ι.Κ.Ε, we. Sole Proprietorship, vii. Ν.Ε.Π.Α., viii. Social Cooperative Enterprise of N.. 4430/2016 as in force, ix. Partnership, x. Law Firm of the article 49 επ. of N.. 4194/2013, xi. Civil Law Society.

The basic conditions for the participation of the companies that submit a proposal are the following:

• Be active in the region to which the invitation relates.
• To have started before 1/1/2019.
• Have as their main activity code or activity with the highest income one of the eligible KAD of the analytical invitation and in which to operate continuously at least from 31/1/2020 and until the day of submission of the proposal.
• Be Very Small or Small Business.
• During 2019 to employ fewer than 50 employees.
• There should be no grounds for exclusion of the paragraph 1 of the article 40 of n. 4488/2017 (A’ 137).
• Do not be problematic on December 31st 2019 or if they were problematic on 31/12/2019 have taken the necessary steps so that they are not problematic when submitting the relevant application for funding.
• By way of derogation, aid may be granted to micro or small enterprises (within the meaning of Annex I to Can. EU 651/2014) which were already problematic on 31 December 2019, provided that they are not subject to collective insolvency proceedings under national law and have not received rescue aid (or if they have received rescue aid, have repaid the loan or terminated the guarantee contract when granting the aid under the call) or restructuring aid (or have received restructuring aid but are no longer subject to a restructuring plan when granting aid under this call).
• Since they are active in the processing and marketing of agricultural products, undertake not to pass on the aid received in whole or in part to primary producers and to the obligation that such aid may not be determined on the basis of the price or quantity of products purchased by primary producers or placed on the market by the companies concerned.
• Do not have a pending warrant for recovery of previous illegal and incompatible state aid based on an EU or WEU decision.