Corona: November help for the self-employed and companies - what those affected need to know

The federal government wants to cushion the economic consequences of the November lockdown with new billions in aid.

Which requirements companies and self-employed persons have to meet.

• The second lockdown since Monday is likely to hit restaurateurs, hoteliers, cinema operators and artists hard.

• The

  federal government wants to cushion the economic consequences

  with an

  aid package

  worth billions

  .

• Finance Minister

  Olaf Scholz is

  now

  holding out the prospect of further aid.

Update from November 3, 9:02 a.m.:

Federal Finance Minister

has announced an extension of the Corona aid.

The bridging aid for companies and self-employed persons will be further developed for the period after November, said Scholz on Tuesday in the ZDF morning magazine.

Then there should be what has already existed, "but improved again," said Scholz.

In the case of solo self-employed people and small businesses with strongly fluctuating sales, you want to use the annual average monthly income as an alternative when calculating the Corona aid, said Scholz.

New Corona aid for the self-employed and companies: How much is there, where the applications can be made

First report from October 30, 11:33 a.m.

- The federal government and the states have

decided on new restrictions in

view of the rapid spread of the

* virus.

After that, restaurants and bars will be closed from Monday (November 2nd).

Cinemas and theaters also remain closed, and tourists are no longer allowed to stay overnight in hotels.

In order to cushion the economic consequences, the federal government has decided to provide billions in aid for companies and the self-employed.

But who is actually entitled to the new economic aid, which requirements must be met and how much is there?

An overview:

How much money is available with Corona-Hilfen II?

In total, the

has

earmarked up to 10 billion euros for the new November aid.

The money is to come from the existing fund for

aid.

In the spring, the federal government earmarked 25 billion euros for corona aid.

However, just 1.2 billion euros have been paid out so far.

Who will receive the new Corona emergency aid?

With the new Corona aid, all

or

persons

affected by the November shutdown

are to be supported.

This also explicitly includes

that are still allowed to accommodate business travelers, but not tourists.

In addition, the help should also be available for

that operate a club club, for example.

In addition, the Federal Ministry of Economics and the Federal Ministry of Finance want to check “promptly” whether there will be money for companies that are indirectly

affected

by the

.

This could be, for example, food wholesalers who specialize in delivering to restaurants or laundries that clean towels or bed linen from hotels.

Corona aid: scale November 2019

How much money is there?

The grants should be

staggered

depending on the

size of the

.

Self-employed people or companies with up to 50 employees are to receive 75 percent of their “average, weekly turnover” from November 2019 replaced.

In the case of companies with 50 or more employees, the November aid will be

designed

“in accordance with the upper limits of the state aid requirements” of the

.

The aid should therefore amount to around 60 percent of the previous year's sales.

The maximum distribution is capped at three million.

In addition, the new aid will be offset against government benefits for November, according to the Federal Ministry of Economics.

This applies, for example, to short-time work benefits or bridging allowances.

We don't leave our companies and their employees alone - What additional #Corona aid is the #Bundesgovernment providing to deal with the economic consequences of # COVID19 👇?

#entrepreneur stay @bmwi_bund @BMF_Bund pic.twitter.com/2d1KaqBrPH

- BMWi Bund (@BMWi_Bund) October 29, 2020

What happens if a company was founded after November 2019?

Companies that started their business operations after November 30, 2019 should also be entitled to Corona * assistance.

The

sales from October 2020 are to be used

as the

.

In the case of self-employed persons, a right to choose also applies.

You can decide for yourself whether you prefer to use the sales from November 2019 or the average monthly sales 2019. This is intended to compensate for special hardships such as holidays.

Where can companies and self-employed people apply for assistance?

The applications should be made via www.ueberbrueckungshilfe-unternehmen.de.

Companies can

apply for

the

aid from spring

on this portal

.

The applications should be made by the respective tax advisor or auditor.

Self-employed persons up to a “maximum subsidy rate of 5000 euros” should also be able to apply for the November aid themselves, provided they can prove their identity.

Corona aid: The federal government is holding out the prospect of down payments

When can the applications for November aid be submitted?

There is no specific date for this yet.

The Ministry of Economic Affairs assures on its website that they are working “under high pressure” on the implementation.

You also check the possibility of an

.

What other help is there?

The federal government has expanded the existing loan offers.

From now on companies with up to 10 employees and solo self-employed can about their banks Quick loans from the

apply.

The federal government basically releases the house banks from liability.

Companies can use the money to finance investments, all running costs such as rents or salaries as well as their warehouse.

With the

, up to 300,000 euros are available per company and turnover in 2019.

Companies with more than ten employees and fewer than 50 employees can continue to receive up to 500,000 euros through KfW quick loans.

The loans have a term of up to ten years, the interest rate is three percent, and the first two years are redemption-free.

With over 50 employees, the loan volume is 800,000 euros.