The economic measures announced provide support to the most affected companies in France following the consequences of COVID-19. Since the closure of non-essential establishments in mid-March, businesses have been at risk of bankruptcy. Between lack of cash due to lack of customers, and partial unemployment of employees, companies must find solutions. The Government, as well as the Regions, are putting in place aid to support businesses impacted during this critical period. And this, in order to help them pass this milestone, and turn to a more favorable horizon…
Economic measures related to partial activity and variable expenses
By imposing the closure of establishments and businesses deemed non-vital, an entire economy suffers from the virus. In the absence of being able to remain in normal activity, companies choose to telework if conditions permit.
According to the Ministry of Labour, this represents nearly 8 million jobs in the territory, or 4 out of 10 jobs. If the activity does not lend itself to it, closure is considered. According to a study carried out on 30 March by the French Observatory for Economic Conjunctions (OFCE), 5.7 million jobs are affected by partial unemployment. This is one of the consequences of the forced cessation of business activity in the country. In Gironde, 3681 companies have already filed a technical unemployment file, according to Fabienne BUCCIO, prefect of New Aquitaine.
This sudden decision raises questions on the business side about the introduction of partial unemployment. Companies can apply for partial unemployment 30 days after the start of the period.
The application is made online on the site dedicated to the request for partial activity and is retroactive. The employee’s salary is fully covered, up to 4.5 times the SMIC, including for apprentices. All information is available on the Ministry of Labour website
Businesses, you can make your return retroactively possible: Partial activity
For many companies, their low cash flow is a real threat to their survival due to a lack of customers. The costs must be paid anyway, and the fear of companies going bankrupt is growing.
To protect its cash flow, many measures are planned, especially for micro-enterprises, with suspensions of energy bills, water or commercial and professional rents.
You’ll find all the steps taken for businesses and entrepreneurs here.
Economic measures for businesses in New Aquitaine
The New Aquitaine Region is also taking major measures to support businesses during this period. Indeed, they are the pillars of the French economy, and their absence during the confinement raises questions about the “after”. To help them and allow them to continue to exercise after the current crisis, the Region has released 50 million euros. This sum is distributed over four solidarity clusters for companies and regional associations.
The first, to the tune of 20 million euros, concerns a common solidarity fund State-Regions. It is intended for SMALLBs, the self-employed, as well as micro-enterprises. This translates into monthly aid, paid under certain conditions.
The first is a monthly assistance of up to 1500 euros for companies with operating losses. In addition, a flat-rate aid of 2000 euros for companies that cannot pay their debts due to lack of funds. These aids complement the reduction in the burdens announced by the State.
5 million euros are also released as a support fund for employee associations. This aid compensates for the loss of activity, with subsidies ranging from 1,500 to 20,000 euros under certain conditions.
The Region is also providing 10 million euros in aid to companies in financial difficulty. This support is supported by BPI France, which manages the abundance of rebound loans. BPI France also helps banks and regions, through the implementation of bank loans, and cash reinforcements. This is in order to help the companies most affected by the crisis.
Finally, emergency aid of 15 million euros is provided for all companies with cash needs, but not eligible for other aid.
Companies that cannot continue to operate in a normal manner at this time are accompanied. For example, social deadlines are extended for companies with more than 50 employees. The State also proposes to modulate and relax regulations according to the situation of companies.
All information on the payment of dues can be found here.
When it came to paying tax deadlines, troubled companies can get a phased debt settlement plan. To do this, they can refer the matter to the Departmental Directorate of Public Finance. At the end of the plan, late penalties and mark-ups may also be cancelled.
For more information on the terms and conditions, visit the Tax
Economic measures and business support operations
The New Aquitaine Region has thus put online a platform dedicated to economic measures to connect companies. The neo-Aquitaine linking platform for industrial initiatives allows applicants and producers to be connected. The aim is to link demand and supply in terms of production, especially in equipment. The requesting company must register on the platform, and inform its availability. At the end, it can contact companies offering their services for the production of equipment.
All this, remotely, in order to respect the social distance requested. This allows any company to be equipped in a timely manner, continuing its activity, and suffering from a shortage of equipment. At the same time, all local institutions are mobilizing to help entrepreneurs in search of information, answers and support.
The House of Crafts of Gironde, or the CCI of Bordeaux Gironde provide companies with all the necessary contacts. They also provide them with useful links to learn about all the measures put in place by the Government. During this period, all business leaders can also contact an ICC advisor in their department.
COVID-19 impacts all sectors of activity. If it is not known when activity in France will be able to resume normally, it is certain that the economy will suffer for many months. For business leaders who can, you have to hold the helm, keep your confidence, and pass the mark with your eyes wide open.
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