Financial aid

The government of the Brussels Region has taken measures to grant:

• A one-off premium of €4,000 per operating headquarters
• Suspension of City Tax payment
• Strong support for business cash flow
• The creation of a delegated mission at Finance&Invest.brussels
• A moratorium on capital repayments on loans granted by Finance&invest.brussels
• Accelerated or even early processing, commitment and payment of aid for economic expansion in the hospitality, tourism, events and culture sectors.
• Strengthening support for companies in difficulties
• Waiving the tax on the operation of taxis or cars with drivers
• In the social economy and for service vouchers, and the payment of the regional contribution, i.e. €14.60 per hour whether or not the hour is worked, to service voucher companies.
• Image of Brussels, Sport, Equal Opportunities and Social Cohesion
• Suspension of LEZ fines

These measures complement those put in place by the European Union and the federal authorities to combat the economic crisis that has hit our country so hard.

For all questions concerning these economic measures and aid to Brussels companies, please contact Brussels Economy and Employment, Boulevard du Jardin Botanique, 20, 1035 Brussels - ​info@1819.brussels and the phone number 1819 or the website ​www.1819.brussels .

Walloon Region

The one-off aid granted per company in the Walloon Region only concerns SMEs within the meaning of Article 2.2. of Annex I to Regulation (EU) No 651/2014, i.e., according to Annex I, less than fifty million euros in annual turnover, less than forty-three million euros in annual balance sheet total and less than two hundred and fifty full-time equivalent employees.

Flemish Region

A lump-sum subsidy of €4,000 is available to companies that are obliged to close their site for the whole week as a result of measures to combat the coronavirus (the notion of week and WE has finally been abandoned in the latest version of the federal MA).

For businesses operating in the hospitality sector, only the mandatory closure of the restaurant is required.

The lump-sum subsidy is also granted to itinerant merchants and showmen who are faced with the closure in the Flemish Region of a regular public market or a public fair at which they are normally present, as a result of measures to combat the coronavirus.

The company and the association (international, no-profit organisation) must employ at least one active partner or full-time worker registered with the NSSO.

The grant application must be submitted within 30 calendar days of the period of compulsory closure due to measures to combat the coronavirus.

These terrifying times for entrepreneurs are forcing us to rethink and reconfigure our businesses in an attempt to find new ways forward. Some companies will be more affected than others, but all will have to reinvent themselves and rebuild their structures.

You need to find emergency solutions and try to get back on track after taking stock of the situation. Before moving forward blindly, it is important to identify strengths, weaknesses and real opportunities for action:

1. Ask yourself the right questions, or go through the questions that have been thought up by professionals and come up with straightforward answers.
2. Compare your answers with those of advisers and other entrepreneurs.
3. Engage in reflection, debate, new solutions leading to a concrete action plan.

Identify the risks to your business with this preventive diagnosis developed for entrepreneurs in the Brussels region thanks to subsidies from the Brussels-Capital Region and the resources of Beci. It will give you an initial ‘flash’ analysis.

In these times of crisis, getting your money back is complicated.

1. Stay calm. The situation is difficult for everyone. You'll have more people of goodwill open to finding solutions than dishonest people taking advantage of the situation.
2. Get your head together. Take stock of your debts, with your accountant if you can. Get out the ‘accounts receivable balance’ and go through what you're owed.
3. Ask your biggest customers to meet your invoices. Plan an alternative from the start in the event of a blockage. Ask for partial payment at least, in instalments. Agree new intermediate payment arrangements if full payment cannot be made.
4. Then ‘attack’ the smaller customers, starting with those you consider to be the most ‘solid’.
5. Look into credit solutions that can be activated in your case; there are several factoring formulas that could probably help you in the future.
6. Other more creative formulas are also possible: for example, you can put your invoices up for sale, investors can buy them and you receive the cash within 72 hours. Visit​ EDEBEX .

If you have a major problem involving large sums of money, call the CEd and Beci: 02 533 40 90. An experienced mediator will try to find a solution (initially free of charge) with the person you are dealing with.

Financing

The Minister of Finance, the National Bank of Belgium and Febelfin have announced financial support for people exposed to problems resulting from the coronavirus crisis.

The general idea is to postpone mortgage payments, on request, for up to six months.

A charter has been drawn up to give concrete form to this commitment, covering the following aspects:

• what exactly is covered by postponed payment
• who can request postponement of payment
• what forms postonement of payment can take
• when a postponement of payment can be requested and until when a postponement of payment can be introduced

Anyone who thinks they meet the conditions for requesting postponement of payment should contact their bank. This can only be done by appointment or via the bank's available digital channels (e-mail, chat, mobile application, etc.) and by telephone. It is best to contact the bank one week before the due date of the following month.

In order to guarantee financing for families, the self-employed and businesses during this difficult period, the federal government, on the initiative of the Minister of Finance and with the support of the National Bank of Belgium, has drawn up an agreement with the financial sector.

This agreement has two components:

• A 6-month payment postponement free of charge: the financial sector is committed to providing viable non-financial businesses and self-employed people, as well as mortgage borrowers who are experiencing payment problems as a result of the coronavirus crisis, with a payment postponement until 30 September 2020 free of charge.
• An adapted guarantee system for new loans: the federal government will activate a guarantee scheme for all new loans and new credit lines with a maximum term of 12 months that banks grant to viable non-financial businesses and self-employed people. This will ensure that the economy continues to be financed.

The guarantee scheme will have the following characteristics:

• The total amount of the guarantee is €50 billion.
• All new loans and credit lines with a maximum term of 12 months (excluding refinancing loans) granted up to and including 30 September 2020 will be covered by the guarantee scheme.

The commercial rent loan allows companies that are having difficulty paying their rent to benefit from additional liquidity, enabling them to maintain their activities as effectively as possible. This loan covers the monthly instalments for the first half of 2021, as well as any instalments outstanding since April 2020! The commercial rent loan is for a maximum of four months' rent per property, including service charges. The interest rate applied will be 2% per annum. For more information, click here.