The application period for the fourth round of cost support starts on 17.8. at 9 a.m. and ends on Sept. 30. at 4.15pm. The support period is from 1 March to 31 May 2021. Cost support is intended for companies whose turnover has reduced as a result of the pandemic and which are therefore having difficulty coping with inflexible costs and wage costs. According to the government’s policy, the need for and amount of support will be assessed on the basis of the sudden loss of turnover caused by Covid-19. With the aid the Finnish government aims to support companies’ survival in the wake of the corona pandemic.
The aid is intended for companies whose turnover has reduced significantly as a result of the COVID-19 pandemic and whose wage and other costs for the aid period (1 March to 31 May 2021) are difficult to adjust. The aim of the cost support is to support business continuity in the difficult situation caused by the COVID19 pandemic and to reduce the number of companies going bankrupt by giving companies more time to adjust their activities and costs once the COVID-19 crisis persists and the waves return.
Foundations and associations doing business can also receive cost support. Cost support is granted only for the financial activities of the association / foundation. The aid is granted according to the reduction in the companies’ turnover and the actual costs. The aid will be paid (at least EUR 2000), even if the company’s aid is calculated to be less than that amount. This way, more small businesses and sole proprietors will still be able to receive support if the other conditions for support are met. A company can apply for cost support if it has a business ID. It is also required that the company has eligible costs of at least EUR 2000 during the aid period and that its turnover has decreased by more than 30% compared to the reference period.
Text source: State Treasury website.