The cost support is intended for companies whose turnover has fallen significantly as a result of the coronavirus and who have fixed costs that are difficult to adjust.
The State Treasury opened an electronic application for cost support on 7.7.2020. After the first week, 7 623 325 euros in cost support has been paid for 614 companies in total. During the first week, 3 716 cost support applications were received. 86 % of the applications have been processed.
Up-to-date information on the number of cost support applications and the decisions made can be found on the statistics on cost support page. Statistics are updated every weekday.
The State Treasury serves
We received almost a thousand phone calls during the first week, the response rate was 96%.
The State Treasury collects feedback from customers on the quality of our customer service. Customer satisfaction was high, as the average customer feedback for the first week is 9 (on a scale of 4-10). The State Treasury has also received verbally appreciative feedback, including “Thank you for your understanding, people-oriented attitude” and “Quick response and firm, clear instructions”.
Who is eligible for cost support?
In the majority of the applications received in the first week, the grant decision was negative. The rejection decisions were made mainly because the support to be paid was below the minimum threshold of 2 000 euros. Applications were also received from non-assisted industries.
The industries covered by the support are defined in a Government decree. Eligible companies must meet the following conditions in order to be eligible for the support:
- The company’s own turnover has fallen by more than 30% compared to the comparison period.
- The company has wage costs and fixed costs that are difficult to adjust.
According to the law, no support can be granted if the company’s total turnover for the entire comparison period is less than 20 000 euros.
According to the law, no support can be granted if the support to be paid is less than 2 000 euros.
If the company’s industry is not covered by the Government decree, the company must show particularly compelling reasons for the reduction in its turnover due to the corona situation. A particularly compelling reason can be for example a restriction or order that leads to difficulties in practicing business.
On the basis of applications submitted to the State Treasury for the time being, for example, some event production -related businesses, companies providing dental services and companies affected by travel restrictions may receive support when other conditions for granting cost support are met.
Further information can be provided online
The State Treasury will open the possibility for the electronic search service to submit additional information in the transaction channel on Thursday, 16.7.2020.
In the electronic service, the customer can answer a possible additional information request from the State Treasury. You may also use the service to correct inaccurate information provided accidentally. The additional information can be provided by anyone authorized to represent the company.
For more information:
Satu Vallivaara, Deputy Director, tel. +358 295 503 347
Tuomo Yliluoma, Service Manager, tel. +358 295 503 349