Luxembourg's General Directorate for Small and Medium-Sized Enterprises has announced the extension of support measures for businesses in the context of the COVID-19 pandemic.
In light of the direct and indirect economic repercussions of the new restrictive measures, the Luxembourg government has decided to extend the temporary state contribution to the uncovered costs of certain companies provided for by the law of 19 December 2020. This applies to businesses in the retail trade and related sectors, such as the personal care industry.
In addition, the government decided to increase for all eligible companies the consideration of operating expenses from 75% to 100% for the months of November and December 2020 and the month of January 2021.
Assistance for uncovered costs was initially intended for the tourism, hotel and catering, events, culture and entertainment sectors and for managers of continuing vocational training organisations. It will be allocated in the form of monthly capital grants calculated on the basis of uncovered costs to companies which, during all or part of the period between 1 November 2020 and 30 March 2021, will have suffered a loss of monthly turnover of at least 40% compared to the corresponding month of the year 2019. The maximum assistance available is 70% of the non-covered eligible costs for medium and large enterprises and 90% of uncovered eligible costs for micro and small businesses. The amount cannot exceed €20,000 per month for a microenterprise, €100,000 per month for a small business and €200,000 per month for a medium or large business.
