Applications for fourth round of Business Cost Support to close on 30 September
As it stands, this fourth round is the last chance to apply for COVID-19 support for businesses, regardless of sector. The fifth round will be targeted only at specific sectors.
Applications for fourth round of Business Cost Support are still open. The fourth application round is intended for businesses whose turnover has decreased by over 30% between 1 March and 31 May 2021. Their turnover in that period is compared to the same period in 2019.
On current information, this fourth round is the last chance to apply for cost support for businesses, regardless of sector. Applications close on Thursday 30 September.
Minister of Economic Affairs Mika Lintilä said on 1 September that a fifth round, smaller in volume and aimed only at certain sectors, was being prepared.
For companies with under 50 employees, applications for Closure Compensation closed on Tuesday 31 August.
Businesses can receive a minimum of €2,000 and a maximum of €1 million in Business Cost Support. Single-person businesses can also apply for the support.
Suomen Yrittäjät is disappointed that the conditions for Business Cost Support have not changed since the third round. Business Cost Support continues to be a more viable option for companies which are larger than micro enterprises. SY has also called for the support to compensate 85% of business costs instead of the current 70%.
82% of applications approved
You can apply for both Business Cost Support and Closure Compensation even if your business applied for and received supports in previous rounds. If you are awarded Business Cost Support, it will be reduced by any compensation you have received for the same costs from insurers, as well as by the amount of Closure Compensation and Event Guarantee supports you have received from the State Treasury.
Read more about applying for Business Cost Support on the State Treasury website.
As of 30 August, 6,480 businesses had applied for the fourth round of Business Cost Support. A total of 3,418 businesses had received decisions, of which 2,804 (82%) were positive. Support to a total of €33,044,070 had been awarded as of that date.
The State Treasury is currently promising to process applications within 1–30 days.
toimitus (at) yrittajat.fi
Edit to original Finnish text on 1 September 2021 at 09.30: Minister Lintilä’s statement about fifth, targeted round of support added.