What assistance small businesses in Israel can expect from government?

For those who missed update on the government assistance to small businesses from July 9th, here is the translation + link in Hebrew.
Is this really a benefit and is it going to help you?

A safety net for self-employed people and businesses

Immediate grant grant to self-employed and business owners for the months of May – June 2020 – Independent or controlling employee who received a previous grant grant will be eligible for an immediate grant of up to NIS 7,500. The immediate grant is expected to be given to over 380,000 self-employed and business owners by the tax authority directly into the bank account without the need for any action by the independent or business owner.

Social Assistance Grant to Self-Employed and Business Owners – Self-employed and business owners with a taxable annual income of up to NIS 640,000 who experience a reduction in turnover of at least 40% will receive a monthly allowance of 70% of taxable income up to NIS 15,000. The move requires legislation in the Knesset.

A Business Aid Grant – Business and Independent with an annual turnover of up to NIS 100 million, and whose turnover decreased by at least 40% over the same period, will receive a grant once every two months until June 2021 as follows:

Business with an annual turnover of up to NIS 300,000 – an aid grant for a small business of NIS 3,000-6,000 per month as follows:

Up to NIS 100,000 annual turnover – NIS 3,000

100-200 NIS Annual turnover – NIS 4,000

NIS 200-300,000 annual turnover – NIS 6,000

A business with an annual turnover of between NIS 300,000 – NIS 100 million – a fixed reimbursement grant up to NIS 500,000 (up to 15% of the annual turnover).

New Business Assistance Grant – Business Assistance Grant Established in January-February 2020 Paid once every two months, until June 2021:

Exemption deals (up to NIS 100,000 annual turnover) – NIS 3,000

Authorized dealer (over NIS 100,000 annual turnover) – NIS 4,000

Arnona grant – For businesses with an annual turnover of up to NIS 100 million, who experienced a reduction of at least 60% in the sales turnover, reimbursement of municipal property expenses until the end of June 2021.

Increasing subsidized loans on state guarantee and improved conditions – Increasing subsidized loans on state guarantee and improved conditions – Expanding subsidized loans on state guarantee for small, medium-sized businesses by NIS 28 billion and placing them at NIS 50 billion. Increasing the volume of loans up to 24% of the business cycle, bringing in additional players and the possibility of borrowing from two different entities and dealing with barriers to utilizing the framework. This is a significant extension of the program that will allow many businesses to receive credit under attractive conditions. The expansion of the fund requires the approval of the finance committee.

Business Licensing – Extending the validity of the business license by the end of June 2021. The change requires a legislative process.
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The post was originally published at Cherie Albucher Marketing Project Management.

Photo: https://www.facebook.com/cheriealbucher/

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