The corona crisis has led to a great deal of uncertainty for the business community, with new guidelines and updates being published on a daily basis. We've had many conversations about how best to plan for the future, not just for ourselves but even for those around us. These conversations probably resonate with many small businesses and entrepreneurs. And this is precisely why we decided to go digital with the Helsingborg Business Forum.
The forum started in 2019 in collaboration with Helsingborg International Connections, Open Space Mindpark and Helsingborg Business Community with the focus of bringing information about business and entrepreneurship to the international community in Helsingborg. Our previous events covered topics including taxation, business tools and accessing incubators or accelerators, with guest speakers joining to share their expertise. Like many others at the moment, we refashioned our usual face-to-face format and took ourselves online for our first virtual event.
Our guest speaker, Anneli Odén of NyföretagarCentrum, led the conversation and guided us through the avenues of support available for small businesses and entrepreneurs dealing with the corona crisis. Here is a summary of what we talked about:
Sole-traders and limited companies can apply to Skatteverket to postpone payments of taxes and fees for 2020, with an interest rate of 3%.
There is also scope to apply for a reduction in employers fees for businesses with less than 30 employees and salaries of 25,000 SEK or below. These reductions will be valid from the period of 1st March to 30 June.
This support is a one-off and it is important to remember a tax declaration should still be filed with Skatteverket, even if there is no income recorded during this period.
Almi’s Brygglån is specially adapted to help businesses experiencing a shortfall in their income as a result of corona crisis. Almi requires information on how corona has impacted the business along with how the loan will contribute towards managing future operations.
The application process can be completed virtually and signed through Bank ID.
Businesses can also apply for loans through Riksbanken.
Loan amounts available from Almi and Riksbanken will vary for different businesses, therefore it’s advisable to explore all options.
This option is available for businesses in the retail or hospitality sector, such as restaurants or hotels.
Rent reductions will need to be negotiated directly with the property owner for the period of April to June.
The property owner can apply to Länsstyrelsen to cover reductions in rental income, which can then be passed onto the occupier.
Short-time work allowance
So far, this has been the most popular route for business facing financial hardship.
Businesses can apply for financial support if they choose to reduce the working hours of their staff. The options include reducing to 20%, 40% or 60% of full-time employment with the state contributing up to 50% of the reduction.
There is also an option to apply for an 80% reduction of working hours during the period of May, June, and July.
Businesses will need to have the unions on board or have the approval of 70% of employees to pursue this route. State support is only available for limited companies and does apply for sole traders. This mechanism is a grant and will not need to be paid back.
Support for loss of Revenue
Small businesses and sole traders with an income more than or equal to 250,000 SEK are eligible for financial support if they have experienced a 30% reduction of income in 2020 when compared to 2019.
This support can contribute towards payments of fixed costs however it can not be used to cover salary costs.
Additional information about support for local businesses can be found at Verksamt and Action Helsingborg. One-to-one coaching about how to manage the impact of corona on your business is also available at Framtidscoach.
As part of our new project with Action Helsingborg, we will soon be hosting a series of events online with helpful information for entrepreneurs and businesses during the corona crisis. We invite you to follow our page on Facebook for more updates and developments. Have any questions? Email us at firstname.lastname@example.org or email@example.com