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Germany is extending its aid to entrepreneurs for another three months

Germany: Aid for entrepreneurs extended until the end of the year. Many companies in Germany had to close for a long time due to the coronavirus pandemic. in some industries, the situation of entrepreneurs is still difficult, therefore aid for entrepreneurs is extended until the end of 2021.

Federal Economy Minister Peter Altmaier (CDU) said on Tuesday evening after the summit that vaccination remains crucial for the economy. “Each additional vaccination protects life and health, but also our economy,” said Altmaier.

To help entrepreneurs, companies particularly hit by a pandemic can be reimbursed a large proportion of their fixed costs.

The aid can be applied for by small and medium-sized enterprises, the self employed and freelancers, non-profit companies and organisations from all sectors that are struggling with the problem of a significant drop in turnover.

Kurzarbeit extension

Labor Minister Hubertus Heil wants to extend the Kurzarbeit program by the end of 2021.

The main aim of the state aid scheme is to provide direct aid to workers employed in a wide range of enterprises and services in times of the threatening deep economic crisis to the world.

Workers threatened with unemployment may benefit from the protective measures taken by the German state. At the moment when companies lose liquidity in the payment of wages, special state aid is applied to their employees. In practice, this means that part of employees’ salaries is paid by the state and not by the entrepreneur.

In 2020, 7.3 million employees benefited from the program.

Finance Minister Olaf Scholz also spoke in favour of extending Kurzarbeit and government support for companies struggling with problems arising from the coronavirus pandemic.

However, the Bundestag has yet to decide on the extension of aid for entrepreneurs by another three months.

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source: Spiegel.de

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