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Billions of zlotys on entrepreneurs’ accounts

19.05.2020

Out of all support instruments offered under the anti-crisis shield, entrepreneurs have received almost PLN 10.5 billion. This is a result of six weeks of validity of the special act aimed at the prevention of negative consequences of the coronavirus pandemic.

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Protection of jobs

One of the more important support instruments is the supplementary funding of remunerations from the Guaranteed Employment Benefit Fund. Employers may use this instrument in the case of an economic crisis or if the working time is reduced.

‘Protection of jobs is one of the priority areas of our actions. We have already paid out over PLN 3.2 billion of support from the Guaranteed Employment Benefit Fund for that purpose,’ summarises the Minister of Family, Labour and Social Policy Marlena Maląg.

Loans for current expenses

The set of support instruments includes also loans for microentrepreneurs. They allow companies to pay current costs of their business activity, e.g., costs of taxes or lease of premises. A loan bears low interest and its maximum amount is PLN 5,000. Moreover, a loan may be cancelled, provided that the applicant will conduct business activity for a period of 3 months from the date of granting the loan.

Since the launch of the shield, over 670,800 loans have been granted for the total amount of over PLN 3.3 billion.

Idle time benefit from the Social Insurance Company

The Social Insurance Company (ZUS) handles applications concerning idle time benefit for self-employed persons and service providers. Until today, 628,000 idle time benefits have been paid out in the total amount of over PLN 1.2 billion.

Exemption from insurance premiums

The second tool being implemented by the Social Insurance Company is the possibility of exemption from the obligation to pay insurance premiums. The value of aid granted under this support instrument is around PLN 1.8 billion. The exemption covers social insurance, health insurance, Labour Fund, Solidarity Fund, Guaranteed Employment Benefit Fund and Bridging Pension Fund premiums.

Financial aid from EU funds

The anti-shield crisis offers also support from the European Social Fund. These funds allow entrepreneurs, e.g, to finance a part of employee remuneration costs and a part of business activity costs for self-employed persons. Altogether, over PLN 870.9 million have been paid from this support instrument.

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