Emergency grant to the most affected by the pandemic businesses of entertainment, organization of events and exhibitions, catering of events, provision of gym services and dance school

Emergency grant to the most affected by the pandemic businesses of entertainment, organization of events and exhibitions, catering of events, provision of gym services and dance school - The program

Emergency grant for entertainment, event and exhibition, event catering, gym and dance school businesses most affected by the pandemic

The new Action of EPANEK "Emergency grant of the most affected by the pandemic enterprises of entertainment, organization of events and exhibitions, event catering, provision of gym services and dance school" supports the eligible enterprises, which face insufficient liquidity, but also suffer a significant financial loss, due to the ongoing impact of measures to contain the outbreak of the COVID-19 disease. The Action provides targeted public support to maintain the continuity of their economic activity.

Beneficiaries

Beneficiaries of the Action are companies, regardless of their legal form, in the following sectors:

• Provision of conference/trade exhibition organization services,
• Catering for events,
• Food/fun/entertainment,
• Gyms and dance schools.

Basic Conditions of Participation

The beneficiaries of the Action must, among other things, satisfy the following conditions:

• to submit a Financing Application per VAT number for all the facilities they have,
• to have started operations by 31.12.2021,
• have until 31.12.2021 as the main activity code or as the activity code with the largest income one of the eligible KAD. For businesses that started operations before 01.01.2020, the audit is based on the KAD with the largest revenue, as indicated in the relevant field of Form E3 (Statement of financial data from business activity) for the 2019 tax year submitted in the year 2020. For businesses with start of operations within 2020 or within 2021, the control is based on the main KAD of activity, either of the business or of the branch,
• to keep simple or double written books of Law 4308/2014,
• to be liable to submit VAT Returns,
• show a decrease in their turnover of the year 2020 of at least 50% compared to the turnover of 2019. For companies that have started operations within 2019, the turnover of the year 2019 is compared with the turnover corresponding to equal number of days in 2020 (total 2020 turnover by 365 X number of operating days in 2019). The resulting reduction percentage is rounded to the second percentage decimal place. The condition for participation of the first paragraph of this paragraph is presumed to be met in the case of businesses starting operations within the year 2020 or within 2021, as well as in the case of businesses that in the year 2019 proved to have no income from business activity of any kind. For businesses that have an administrative year from July 1 to June 30, the turnovers of the years 1.1.2019 – 31.12.2019 and 1.1.20 – 31.12.2020 are declared and compared, as derived from the periodic VAT declarations of these periods,
• if they are active in the processing and marketing of agricultural products, to undertake not to transfer the aid received in part or in whole to primary producers and to the obligation that said aid cannot be determined on the basis of the price or quantity of the products placed on the market by the undertakings concerned or purchased by the primary producers, unless, in the latter case, the products were either not placed on the market or were used for non-food purposes such as distillation, methanation or composting by the undertakings concerned .

It is pointed out that the working capital cannot be used for the establishment of a new facility, as the working capital grant is given only as a measure to deal with the consequences of the health crisis.

In particular, businesses that have entered into franchise agreements, in the capacity of franchisor or franchisee, declare this fact in the financing application and are checked during the verification stage as to whether they are related businesses, in order to determine the aid counted to control the accumulation.

Program budget

The Action's budget is 50 million euros (46 million euros for Small and Medium Enterprises and 4 million euros for Large Enterprises) for all regions of the country.
React EU – The Action is funded as part of the Union's response to the COVID-19 pandemic.

Amount of subsidy

Part of the required Working Capital of businesses is subsidized as follows:

• Each business (distinct VAT number) will be awarded a total non-refundable grant in the form of Working Capital which may amount to a maximum of 8% of the annual turnover of the year 2019,
• In companies that have started operations in 2019, in 2020 or in 2021, the reduced turnover of the year of operation (2019, 2020 or 2021) is calculated as the total turnover of the year (2019, 2020 or 2021) by number of operating days in a year (2019, 2020 or 2021) multiplied by 365 or 366. A total non-refundable aid is given in the form of Working Capital which may amount to a maximum of 8% of the reduced turnover of the year of commencement of operations.
• Businesses that in the year 2019 proved to have no income from business activity of any kind are awarded a total non-refundable grant that may amount to a maximum of 8% of the total or reduced Turnover of the year 2020. For the calculation of the appropriate turnover (total or reduced) taking into account the date of their re-operation (first day of revenue) within 2020.
• Businesses that were established in 2020 and proved to have had no income from business activity of any kind during that year are awarded a total non-refundable grant that may amount to a maximum of 8% of the total or reduced Turnover of the year 2021. For the calculation of the appropriate turnover (total or reduced) the date of their re-operation (first day of revenue) within 2021 is taken into account.

In all cases, the grant cannot exceed the amount of 400,000 euros per company (distinct VAT number).

Subsidized expenses

January 1, 2022 is defined as the start of eligibility of expenses.
The working capital advance paid must have been used up from the start date of expenditure eligibility until 30.09.2022 based on the Codes:

• 361 Purchases and expenses within the country,
• 363 Other Imports excluding investment goods (fixed),
• 364 Intra-Community acquisitions of goods,
• 365 Intra-community downloads of services no. 14.2.a.
• of the relevant periodic VAT return forms for the period 1/1/2022 – 30/09/2022.

The amount of working capital corresponding to this Action must not exceed 70% of the sum of the amounts of the four (4) codes mentioned above.

Important dates

Online Submission Start Date: Wednesday March 16, 2022 at 12:00
Online Submission Deadline: Friday, April 15 at 3:00 p.m

Necessary supporting documents for submission

Application documents

Useful files

10/03/2022
Call to Action
10/03/2022
Application documents
10/03/2022
Eligible NACE code