EU approves further €8M aid for covid affected Azores small businesses
The European Commission has approved a further €8 million State aid scheme for small businesses in sectors affected by Covid-19 in the Azores.
The European Commission has approved a further €8 million State aid scheme for micro and small and medium-sized enterprises in sectors affected by the pandemic in the Azores.
The measure will be open to companies operating in the most affected sectors, such as tourism and hospitality, and whose turnover suffered a decline of at least 25% during the second quarter of 2021, compared to the same period in 2019.
The state aid, granted until December 31, will take the form of direct grants covering up to 40% of the turnover decline suffered by the beneficiary and with a maximum aid amount of €12,000 for micro-enterprises, €48,000 for small enterprises and €50,000 for medium-sized enterprises.
