Minister Hoffmeister-Kraut: “With our proven programs, we will continue to support businesses as they weather this historic crisis.”
The State Cabinet has approved the extension of the state’s COVID-19 relief programs that remain necessary. This will allow businesses and self-employed individuals in Baden-Württemberg affected by the pandemic to continue receiving the necessary support beyond September 30, 2021. “Many businesses and self-employed individuals affected by the pandemic still face major challenges. It is likely that, even in the coming months, many businesses will still have insufficient revenue to cover their operating costs—especially in the hardest-hit sectors. With our proven programs, we will continue to support them in weathering this historic crisis. The current extension of the programs through the end of the year is therefore important,” explained Minister of Economic Affairs Dr. Nicole Hoffmeister-Kraut. In line with the federal government’s COVID-19 relief measures, key state programs will be continued through December 31, 2021, while maintaining the existing eligibility criteria.
Among the extended state programs is the COVID-19 Repayment Subsidy, which closes one of the major funding gaps in the federal government’s bridging aid program and enables service companies to receive grants totaling up to 300,000 euros for the entire 2021 funding period to cover loan principal payments.
The Start-up BW Pro-Tect program, designed to provide short-term relief from liquidity shortages for innovative startups with growth potential, will also continue through the end of the year. This will allow continued support for startups that, despite promising development to date, have experienced liquidity shortfalls due to the COVID-19 pandemic. Because of their young age or their inability to service debt at this stage, these young companies often do not meet the requirements for other COVID-19 relief programs and are therefore reliant on the support offered by the state.
The COVID-19 Crisis Counseling program is also being extended. Under this program, businesses can receive up to four days of free counseling and are supported in assessing their business situation, exploring options for securing liquidity, and developing strategies to overcome the crisis and restart operations afterward.
