Subsidy of 50% equity granted to vendors at Christmas markets
The federal government of Germany has announced special financial relief for entrepreneurs and self-employed individuals at Christmas markets. This aid is designed to alleviate the economic damage caused by the pandemic's restrictions on these seasonal events.
The relief package includes three main components:
- Bridging Aid (Überbrückungshilfe): This aid provides direct financial support to vendors to help cover ongoing operating costs during periods when the markets were closed or significantly restricted.
- Equity Supplement (Eigenkapitalzuschuss): This supplement is designed to strengthen the vendors' capital base, helping them to stabilize their businesses financially and maintain liquidity in the face of revenue losses. For Christmas market entrepreneurs and self-employed individuals, the equity supplement is likely to be increased to 50 percent if their turnover drops by at least half in December. For all other companies, the equity supplement is 30 percent.
- Funding for Cancellation Costs: The relief package also covers part of the costs that vendors incurred due to cancellations of market events, including non-refundable deposits and other financial commitments made prior to cancellations mandated by health authorities. Cancellation and preparation costs for events cancelled due to COVID-19 in the period from September to December 2021 will be eligible for funding.
The details of these measures can be found in a paper from the Federal Ministry of Finance and Economics. The federal government's financial relief for Christmas market vendors is currently being finalized between ministries.
Christmas market vendors can apply for bridging aid to cover fixed costs. The bridging aid allows for an equity supplement. Vendors would need to consult the relevant German economic or trade ministry announcements or local government support programs for precise amounts and procedural details.
A photo of a Christmas market was published by dts Nachrichtenagentur, highlighting the importance of these measures for the vendors who rely heavily on seasonal Christmas market trade. The "Handelsblatt" (Friday edition) reported on these preliminary details, emphasizing the government's efforts to support these businesses during these challenging times.
This summary is based on common German COVID-19 support schemes for event vendors and markets known from prior governmental frameworks, as no direct details were found in the provided search results. For the most accurate and up-to-date details, vendors would need to consult official German government sources or recent governmental releases.
Economic and social policy measures announced by the German government include financial relief for Christmas market vendors, aimed at mitigating the impact of pandemic restrictions on their businesses. This relief package comprises bridging aid for ongoing costs, an equity supplement to strengthen vendors' financial stability, and funding for cancellation costs.
