The Action is aimed at supporting businesses in the conference/trade show, event catering, catering/entertainment/entertainment, gyms and dance schools sectors, which are experiencing insufficient liquidity, but are also experiencing significant financial loss, due to the ongoing impact of measures to contain the outbreak of the COVID-19 disease. The Action provides targeted public support to maintain the continuity of their economic activity.

Action Budget

THE budget of the Action is 50 million euros (46 million euros for Small and Medium Enterprises and 4 million euros for Large Enterprises) for all regions of the country.

React EU – The Action is funded as part of the Union's response to the COVID-19 pandemic

Applications and Subsidy

Public funding covers part of what is required Working Capital of businesses.

Specifically:

• Each business (distinct VAT number) will be awarded a total non-refundable grant in the form of Working Capital which may rise by maximum at a percentage of 8% of the annual Work Cycle of the year 2019,
• In the businesses they have done start of operations within 2019, within 2020 or within 2021, the reduced turnover of the year of commencement of operations (2019, 2020 or 2021) is calculated as the total turnover of the year (2019, 2020 or 2021) by the number of operating days of the year (2019, 2020 or 2021) multiplied by 365 or 366. It gives a total non-refundable aid in the form of working capital that can be raised to a maximum of 8% of the reduced turnover of the year of commencement of operations.
• In the businesses that in the year 2019 they demonstrably had no income from business activity of any kind, a total non-refundable grant is awarded which may amount to, at most, at a rate of 8%, on the total or reduced Business Cycle of the year 2020. For the calculation of the appropriate turnover (total or reduced) the date of their re-operation (first day of revenue) within 2020 is taken into account.
• In businesses that incorporated in the year 2020 and demonstrably had no income from business activity of any kind in that year, a total non-refundable grant is awarded which may amount to, maximum, at a rate of 8%, on the total or reduced Business Cycle of the year 2021. For the calculation of the appropriate turnover (total or reduced) the date of their re-operation (first day of revenue) within 2021 is taken into account.

In all cases, the grant cannot exceed the amount of 400,000 euros per business (distinct VAT number).          

Beneficiaries of the Action

Businesses, regardless of their legal form, of the following branches:

• Provision of conference/trade exhibition organization services,
• Catering for events,
• Food/fun/entertainment,
• Gyms and dance schools.

Basic Conditions of Participation

The beneficiaries of the Action must, among other things, satisfy the following conditions:

• to submit one Funding Application per AFM for all the facilities they have,
• to have done start of work until 31.12.2021,
• to have until 31.12.2021 as the main activity code or as the activity code with the largest income one of the eligible KAD of Chapter 6: "ELIGIBLE FIELDS OF ACTIVITY". For businesses with start of work before 01.01.2020 the audit is carried out on the basis of the tax authority with the largest income, as indicated in the relevant field of Form E3 (Statement of financial data from business activity) of the 2019 tax year submitted in 2020. For businesses with start of operations within 2020 or within 2021, the control is carried out based on the main KAD activity, either of the company or of the branch,
• to keep simple or double written books of Law 4308/2014,
• to be liable to submit VAT Returns,
• to present decrease in turnover his year 2020 rate 50% at least in relation to turnover of 2019. For the businesses they have done start of operations within 2019, the turnover of the year 2019 is compared with the turnover corresponding to an equal number of days in 2020 (total turnover of 2020 by 365 X number of operating days of the year 2019). The resulting reduction percentage is rounded to the second percentage decimal place. The condition for participation of the first paragraph of this paragraph is presumed to be met in the case of businesses starting operations within the year 2020 or within 2021, as well as in the case of businesses that in the year 2019 proved to have no income from business activity of any kind. For businesses that have administrative use from July 1 to June 30, the turnovers of the years 1.1.2019 – 31.12.2019 and 1.1.20 – 31.12.2020 are declared and compared, as they result from the periodic VAT declarations of these periods,
• since they are active in processing and marketing of agricultural products, to undertake not to pass on the aid received in part or in whole to primary producers and to the obligation that said aid cannot be determined on the basis of the price or quantity of the products placed on the market by the undertakings concerned or that purchased from the primary producers, unless, in the second case, the products were either not placed on the market, or were used for non-food purposes such as distillation, methanation or composting by the undertakings concerned.

It is highlighted that the working capital cannot be used to establish a new establishment, as the working capital grant is given only as a measure to deal with the consequences of the health crisis.

In particular, businesses that have entered into franchise agreements, in the capacity of franchisor or franchisee, declare this fact in the financing application and are checked during the verification stage as to whether they are related businesses, in order to determine the aid counted to control the accumulation.

Subsidized Expenses

As start of expenditure eligibility defined h January 1, 2022.

THE working capital advance paid should have been used up from the start date of expenditure eligibility until 30.09.2022 under the Codes:

• 361 Purchases and spending within the country,
• 363 Other Imports excluding investment goods (fixed),
• 364 Intra-Community acquisitions of goods,
• 365 Intra-community downloads of services no. 14.2.a.

of the relevant periodic VAT return forms for the period 1/1/2022 – 30/09/2022.

The amount of working capital corresponding to this Action must not exceed 70% of the sum of the amounts of the four (4) codes mentioned above.

Electronic Submission

The funding application is submitted electronically to the State Aids Information System (PSKE) www.ependyseis.gr  labeled: "Emergency grant for entertainment, event and exhibition, event catering, gym and dance school businesses most affected by the pandemic».

Online Submission Start Date: Wednesday 16/3/2022 and time 12:00. 

Online Submission Deadline: Friday 4/15/22 and time 15:00.

Information - Contact

Contact KEK KEPETH for more information:

Address: 9 Vassani, Volos, 38333

Telephone: 24210-30535

E-mail : info@kepeth.gr

By message to our Facebook page