A new action, Restarting the catering sector, with a total budget of €330 million, has just been announced by the Ministry of Development and Investmentto provide working capital to businesses related to the catering sector.

The action is funded through the Operational Program "Competitiveness - Entrepreneurship - Innovation" (EPAnEK) of the NSRF 2021 - 2027 and concerns small and medium-sized and large enterprises, which have a main Nace Code or Nace Code with the largest revenues in the catering sector.

Franchise companies are also included, provided that certain regulatory criteria of the NSRF are met.

Based on the budget of the new Action, it is estimated that 34,000 of the 80,000 catering businesses will be subsidized.

New programme to relaunch the restaurant sector announced today

The Action aims to support the reopening of all catering businesses, which have been affected by the effects of the COVID-19 outbreak.

The support package amounts to EUR 330 million. It is a tool for the restart of businesses in the Catering sector with a non-refundable, non-confiscated and tax-free grant, in the form of Working Capital for the purchase of materials and raw materials.

Conditions for participation

• Activity in the catering sector (main Nace Code or Nace Code with the largest revenues)
• Turnover drop in 2020 compared to 2019 of more than 30%, for existing businesses.
  • For start-ups (starting from 1/1/2019 to 31/12/2019) the drop in turnover is calculated with an equal number of days of operation, while businesses established after 1/1/2020 will automatically enter the action, without calculating this criterion.
  • Businesses that were under construction in 2019 and started having activity - revenue in 2020, will be considered for the program as established in 2020 and will also enter automatically.
• Businesses liable to submit periodic VAT returns.

Restart Catering Action Budget

7% of the turnover generated by the activity in Catering (from the main Nace Code or from the NaceCode with the largest revenues) is subsidized for 2019.

For start-ups (starting after 1/1/2019) the Working Capital will be calculated as follows:
[(2019 or 2020 turnover)/number of operating days ]3657%

The maximum amount of aid is set at EUR 100.000 per VAT number.

Eligible costs in the catering sector

Purchase of materials and raw materials for the first 2-3 months of business restart

Duration of Action Implementation

The Working Capital for the purchase of raw materials must have been consumed by 31/12/2021. Businesses will have to submit by December 31, 2021 the invoices for the purchase of the relevant products

Integration Process

The evaluation will be immediate and the disbursement of the grant will take place immediately after the inclusion and approval of the application

Business applications will be accepted until July 31, 2021, in order to include seasonal businesses in the sector and are evaluated as follows:

• For existing businesses: reduction of turnover of the year 2020 compared to 2019 from 30% based on periodic VAT returns and declared expenses
• For start-ups (starting from 1/1/2019 to 31/12/2019) the drop in turnover is calculated with an equal number of days of operation.
• For businesses established after 1/1/2020, the criterion is not calculated and they automatically enter the action. Similarly, businesses that were in the construction stage in 2019 and started having activity - revenue in 2020.