The support measures put in place by the government during the crisis “mainly” benefited small and medium-sized enterprises between March and September 2020.
During the first phase of the Covid-19 crisis, “companies with fewer than 250 employees represent more than 80% of the companies assisted.
And also more than 80% of the total amount of aid, for all the devices, including the loan guaranteed by the State ”, explained this Tuesday Benoît Coeuré, the president of the Committee for monitoring and evaluation of emergency measures. .
According to him, “it immediately twists the neck of an idea that we sometimes see, which is that aid mainly benefits large companies.
This is not true, ”he added.
The fact remains that Air France alone has received 7 billion euros in aid and SNCF has benefited from 4.5 billion euros as part of the recovery plan ... Figures which remain striking.
According to the chairman of the Emergency Measures Monitoring and Evaluation Committee, very small enterprises (TPE) represent 50% of the amount of deferred social contributions and a little less than 32% of the volume of loans guaranteed by the State.
A detailed inventory that can be found in a report from France Stratégie and the Inspectorate General of Finance.
Four levers
To help businesses get through the health crisis, the government has implemented four main measures: state guaranteed loans (PGE), charge deferrals, partial unemployment and solidarity fund for very small businesses.
"There is a form of specialization of aid by size of company: the deferral of charges for very small businesses, the solidarity fund for SMEs and the EMP for medium or large-sized companies", added Benoit Coeuré.
“Globally, all the devices mainly benefit companies which are small or medium-sized,” he insisted.
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Overall, at the end of September 2020, some 3.7 million companies had benefited from at least one of the four main support measures, for a total amount of nearly 161 billion euros, the study further notes.
These aids have also made it possible to keep many businesses alive.
In 2020, the number of bankruptcies was at its lowest for 30 years.
“At the macroeconomic level, we have the feeling that the aid has been sufficient to keep SMEs afloat,” he said, “even if this undoubtedly hides effects by sector and by geographic basin.
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Regarding “whatever the cost”, that is to say the mobilization of all the necessary means in the face of the health crisis, Benoit Coeuré considered that “it is absolutely normal […] that it be maintained as long as companies cannot function normally for reasons which are completely beyond their control.
An opinion shared by Bruno Le Maire, the Minister of the Economy.