Temporary amendments to business development aid to continue until the end of 2021

NordenBladet — Since 19 October 2020, ELY Centres have been able to grant business development aid as temporary State aid under the Finnish COVID-19 aid scheme. In addition, aid has been granted to small companies that have been in difficulties before 1 January 2020. The Government will continue the temporary amendments until 31 December 2021. This will enable support for business development projects not only during the coronavirus crisis but also during the gradual transition towards normal conditions.More information on the granting of business development aid as temporary State aid and for small companies in difficulty is available on a previous press release by the Ministry of Economic Affairs and Employment. Commission approved extension to Finland’s aid scheme and an increase to maximum aid under temporary State aid in March  The Government’s decision to extend the temporary amendments are based on the European Commission’s decision on 28 January 2021 to extend the temporary State aid rules until the end of this year. At the same time, the Commission decided to raise the maximum amount that a company can receive as temporary State aid to EUR 1.8 million from EUR 800,000. With its decision on 10 March 2021, the Commission confirmed that Finland’s COVID-19 aid scheme will be extended until 31 December 2021 and that the company-specific maximum amount of State aid under the aid scheme will be EUR 1.8 million. The increase, which entered into force in March, applies to business development aid granted by the ELY Centres as State aid under Finland’s aid scheme.The State aid scheme involves a temporary easing of State aid rules due to the coronavirus epidemic. Aid granted under the aid scheme may be granted in addition to de minimis aid. In other words, a company can receive both forms of aid. In calculating the maximum amount of aid per company, all aid granted by Finnish authorities under the aid scheme must be taken into account.Companies apply for business development aid at ELY CentresELY Centres grant business development aid to SMEs for their development measures and investments. These companies include start-ups or those looking to reform or grow. A particular focus is on internationalisation.More detailed information on applying for business development aid on ELY Centre website

Source: Valtioneuvosto.fi