What assistance small businesses in Israel can expect from government?
UPDATE RE GOVERNMENT ASSISTANCE FOR SMALL BUSINESSES
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.
The post was originally published at Cherie Albucher Marketing Project Management.