Bridging Assistance Phase 3 and Restart Assistance for Solo Self-Employed

1 Introduction

The Bridging Assistance III and Restart Assistance provide essential financial support to solo self-employed individuals during the COVID-19 pandemic. This article offers a detailed overview of application requirements, eligible costs, and other relevant information.

2 Who can apply for Bridging Assistance III?

Bridging Assistance III is aimed at companies with an annual turnover of up to €750 million that have suffered a revenue decline of at least 30%. Solo self-employed individuals and freelancers can also apply for the assistance.

3 Which costs are eligible?

3.1 Fixed Costs

The funding includes fixed costs such as rents, interest expenses, maintenance work, insurance, and more. The list of eligible costs has been expanded with Bridging Assistance III.

3.2 List of Eligible Costs

A detailed list of eligible costs includes, among others, rents, interest, maintenance costs, electricity, business license fees, and more.

4 What is the amount of funding?

The amount of funding depends on the revenue decline during the funding period and may include an equity grant as well as a maximum amount. The 100% clause is used to determine the funding amount.

5 What are the special features?

5.1 Affiliated Companies

Affiliated companies are subject to special rules when applying and receiving funding. Fixed costs paid to affiliated companies are not eligible.

5.2 Retail

A special regulation for retail allows for the accounting of seasonal goods and perishable goods under Bridging Assistance III.

5.3 Pyrotechnics, Travel, and Cultural Industries

Each industry has specific regulations, such as special rules for the pyrotechnics industry or the travel industry. These industries receive additional support under the Bridging Assistance.

6 How does the application process work?

The application is submitted through a third-party auditor and requires precise information on revenue declines and fixed costs. Deadlines must be met, and a final accounting is required after the funding period.

7 Does the bridging assistance need to be taxed?

The bridging assistance is subject to income tax and corporate tax, but not to value-added tax.

8 What can you do?

Active participation in determining revenue and fixed costs is necessary to expedite the application process and ensure correct funding.

9 Restart Assistance

An additional support for solo self-employed individuals, artists, and others who benefit less from the traditional bridging assistance. Conditions and the amount of funding are explained here.

10 Extension of Assistance Programs

The Bridging Assistance III and the Restart Assistance are continued as Bridging Assistance III Plus and Restart Assistance Plus. New regulations such as the Restart Bonus and higher limits for funding are introduced.