Corona support regulations for entrepreneurs per October 1st 2020
It is almost impossible to keep track of the rate in which the regulations regarding the Coronavirus are changing. However, as an entrepreneur that will lose or has lost income because of the new regulations, you will want to know if you are entitled to financial compensation and what this support might entail.
In this article you'll find the most important corona regulations for entrepreneurs from Ocober 1st, 2020.
Corona support regulations for entrepreneurs
1. Compensation fixed costs
Tegemoetkoming Vaste Lasten (TVL)
What?
The Successor to the TOGS (compensation entrepreneurs affected sectors). Compensation in the expenses for fixed costs from €750,- to €90.000 every three months.
Who?
Self-employed professionals and SME’s that have suffered at least 30% in revenue due to the corona regulations and are in need of support in paying their fixed expenses.
When?
October 1st 2020 until June 30st 2021. You can find information regarding the TVL before the 1st of October 2020 here.
Where?
The Application is in preparation on the RVO.nl*
2. Temporary Emergency Measure Bridging Employment Opportunities
Tijdelijke Noodmaatregel Overbrugging Werkgelegenheid (NOW 3)
What?
Compensation in salary expenses
Who?
Employers that have structural loss of revenue and meet the requirements (as of October 1st: minimally 30% loss of revenue).
When?
NOW 3 will be the successor of the NOW 1 and NOW 2 per October 1st 2020. NOW 3 will have a duration of three times three months (until June 30th 2021) and will gradually decrease in this period.
Where?
Application for the NOW 3 support can be done starting November 16th on The UWV.*
3. Temporary bridging regulation self-employed professionals
Tijdelijke overbruggingsregeling zelfstandig ondernemers (Tozo 3)
What?
Tozo 3 is meant as a supplementary allowance for self-employed professionals that can no longer maintain their livelihood above the social minimum. Additionally, Tozo 3 can grant a loan for the company capital to compensate for liquidity problems as a consequence of the corona crisis.
Who?
Self-employed professionals whose income has gone below the social minimum. In Tozo 2 and 3 the partner income is included as well. Self-employed professionals that have a problem with liquidity can also request a loan in the new regulation for company credit. The combined loan for Tozo 1, 2 and 3 is maximally €10.157.
When?
The regulation will be extended for 9 months, starting the 1st of October 2020 until June 30th 2021. Those applying will be tested on available funds.
Where?
You can apply for Tozo through (the website of) your municipality**
Would you like to see what Corona measures applied for entrepreneurs before October 1st 2020? Click here.
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