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Business cost support: Sectors (4th round of applications)

Companies can apply to the State Treasury for temporary cost support between 17 August and 30 September 2021. All businesses as well as foundations and associations with business activities can apply for cost support. Cost support may be granted to companies whose main sector is within the scope of the support. These sectors eligible for..

Financial support for businesses during Covid-19

Business cost support (5th round) Application period 21.12.2021 – 18.2.2022 Closure compensation for micro and small companies Application period 12.5.-31.8.2021 Supports for which the application period has expired Event guarantee Closure compensation for medium-sized and large companies Support for uncovered fixed expenses

Statistics: Closure compensation for medium-sized and large companies

The previous day’s information is updated in the report below every weekday. The report indicates the date of the last update. The report provides information on the number of applications, the processing situation and the decisions made. More information on the statistics can be found behind the (…) button at top right corner. You can also..

The group consists of companies with different types of closing periods ordered by the authorities. How is the closing period in accordance with the interim financial statements defined?

The period of the interim financial statements is determined on the basis of the longest closing time ordered by the authorities of each group company, i.e. according to the start date of the earliest closure and the end of the most recent closure. For example, if the group’s parent company has had offices closed between..

Should full turnover data be entered in the closure compensation application for March-April, even though there were exact dates for the closure?

Differently from the information in the interim financial statements for the closing period, the turnover data of the company or all group companies for full calendar months, such as the period 1 March to 30 April 2021, are recorded in the attachment form of the closure compensation application, if the company’s restaurant closure was valid..

For example, monthly accruals are posted in the company’s ledger for the last day of the calendar month. How are these taken into account or posted in the interim financial statements for the closing period?

Monthly assays in the accounts, such as accruals of holiday wages or depreciation of fixed assets, may be extended to the closing period on a daily basis. For example, if the company’s restaurant closure has been in force between 9 March and 18 April 2021, holiday pay periods and depreciation of fixed assets for the..

How do interim financial statements work in closure compensation?

The company/group prepares the company’s interim financial statements for the closing period. For example, if the company’s restaurant closure has been in force in Uusimaa region between 9 March and 18 April 2021, interim financial statements for the closing period 9 March to 18 April 2021 will be prepared.

Can new medium-sized and large companies receive closure compensation?

The compensation is conditional on the company’s turnover falling by more than 30 % during the calendar month or months in which the company’s premises have been kept closed by law or by decision of the authority, compared to the corresponding calendar month or calendar months in 2019. Thus, if a company has been established..

Can I apply for closure compensation for medium-sized and large companies in the e-service?

No, you can’t. The closure compensation for medium-sized and large companies is applied by using a paper application form. In addition, an auditor’s report and supplementary information sheet are required as attachments. The company group must also send a list of all Finnish subsidiaries. The application is submitted to the State Treasury electronically via the..

What is the maximum amount of closure compensation?

The maximum amount of aid is EUR 1 800 000. The granting of the aid takes account of the fact that the maximum amount of aid per group in accordance with the Decision of the European Commission is not exceeded by EUR 10 000 000.

How to define a medium-sized or large company?

Medium-sized companies are companies with between 50 and 250 employees and an annual turnover of between EUR 10 million and EUR 50 million or a balance sheet total of between EUR 10 million and EUR 43 million. Large companies are bigger than this.