Turismo de Portugal strengthens support for businesses

#News #Covid-19

Turismo de Portugal strengthened the support schemes for businesses in the tourism sector with the extension of the scope of the Treasury Support Scheme to small businesses and increasing the respective budget allocation to 100 million euros. A new Support Scheme for the Qualification of the Offer was also launched with a budget of 300 million euros. 

The Treasury Support Scheme for Micro and Small Businesses also saw the extension of the application of the conversion mechanism of 20% of non-repayable funding to all applications submitted by the same business and started to allow the quarterly submission of applications. 

This scheme was created as a support mechanism for businesses’ treasury in the context of the pandemic and has already supported more than 7,300 businesses with around 57 million euros. Micro and now also small businesses can apply for this funding, which corresponds to 750 euros per job / month, for a period of three months, a maximum of 20 thousand euros (micro businesses) and 30 thousand euros (small businesses), of which 20% can be converted into non-repayable. 

The New Support Scheme for the Qualification of the Offer, with a budget allocation of 300 million euros, is already in effect and aims to support the investment effort of tourism companies, particularly with regard to the remodelling of the respective buildings and establishments, in order to adapt and prepare the tourist offer, in order to boost the sector’s recovery process.

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