Greek Funding Scheme for Small Enterprises Accepting Applications

A Greek government support program funding small and very small enterprises is now accepting applications, said Alternate Development & Investments Minister Nikos Papathanasis this week.

The support scheme, which includes tax breaks, will be allocating a total of 150 million euros to businesses with up to 10 employees and reporting an annual turnover of / or total assets under 10 million euros.

“As of Tuesday, 1 September, a new 150-million-euro development program is accepting applications from small and very small businesses that employ fewer than 10 employees. Minimum investment amount for small enterprises is set at 150,000 euros and for very small at 100,000 euros,” said Papathanasis via his twitter account.

According to the ministry, the minimum eligible amount of investment for inclusion in the program is 150,000 euros for small businesses and 100,000 euros for very small businesses.

Meanwhile, in efforts to support in employment in the fall and to meet the demands of small and medium-sized enterprises impacted by the Covid-19 crisis, the government said this week that it would be introducing a series of employee relief measures, including the two-month extension of unemployment benefits (for those that have terminated), the immediate release of benefits to seasonal employees in tourism and F&B operations, and allowing the further suspension of employment contracts in the catering, transport, tourism, sports, and culture sectors to October to prevent dismissals.

Plans also include a new job-creation program as well as the continuation of the Syn-ergasia job retainment scheme and telework options to the end of the year.

In this direction, Greece’s Manpower Employment Organization (OAED) has launched programs offering 71,200 new positions in public and private enterprises.

Photo: GTP

Over the last five months, the number of unemployed receiving government benefits increased by 40 percent, local media report, compared to the same period last year, with the number of registered unemployed up by 14 percent in the same period.

The government is also examining extending financial support to professionals active in art and culture, as well as to tour guides, by providing special purpose compensation; the formulation of an institutional framework which will cover leave of absence due to quarantine measures, and the introduction of a new leave of absence permit for parents whose children have been infected with Covid-19.