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Business consulting with 100 percent subsidy
14. April 2020
The Federal Office of Economics and Export Control (BAFA) approves a grant of up to 4,000 euros net to small and medium-sized companies and freelancers. The consulting subsidy does not have to be paid back. In addition, small and medium-sized enterprises and freelancers affected by the Corona crisis do not have to make advance payments. Small and medium-sized enterprises are particularly affected by the crisis. For this reason, business consultancy is subsidised with 100 percent.
Once an application is approved, payment is made directly to the selected consultancy firm. Please note: This only applies to consulting companies that are registered as such with the Federal Office of Economics and Export Control (BAFA).
Who is eligible to apply?
Basically small and medium-sized companies and freelancers who suffer from the economic effects of the corona virus.
They must also comply with EU legislation on small and medium-sized enterprises (SMEs) and the de minimis rule. Companies and freelancers must submit this application themselves. You can find the application form here. We will of course be happy to help you with the application process.
What does de minimis regulation mean?
It enables small and medium-sized enterprises and freelancers to be supported with public funds below a certain limit.
What is new about this regulation?
There is no longer any need for a preliminary consultation – for example with the Chamber of Industry and Commerce. Furthermore, the consultation does not have to take place on site. It can also take place by telephone or video conference.
Due to the 100 percent subsidies, companies do not have to make any advance payments either.
What deadlines apply?
Applications under the new rules must be submitted before the consultancy services. The regulation is valid until 31.12.2020. Consultation may only begin after approval.
Nobody can say at the moment how long it will take to obtain approval.
What is being promoted?
The subsidy applies to consulting services in all economic, financial, personnel and organisational issues of a company or freelancer. Specifically, this involves liquidity planning, forecast calculations in connection with the continuation of the company, as well as assistance in the development of new business areas, conversion and digitisation of existing business areas. The results of the consulting services may lead to the application for further subsidies.
However, consulting service in connection with direct applications for subsidies, such as short-time working allowance, emergency aid, KfW loans, are not eligible.
We do not have to hide the fact that this regulation is in line with our needs as a consulting company.
Regardless of this, it is extremely difficult for companies to keep an overview and make the right decisions. Having a sparring partner at your side can clarify and simplify many processes. Especially companies that are in financial difficulties can now get help. This is a relief for many companies.