The Flemish government has extended the aid for companies struggling with the energy crisis, Flemish Economy Minister Jo Brouns announced on Friday. The government hopes that this will push more businesses to apply for the support.
In December, Flanders set aside €250 million to help companies whose energy bills are greater than €7,500 per month. Any amount above this threshold will be charged at rates calculated on the basis of average energy prices from 2021.
But so far only 240 applications had been submitted, which sector representatives have attributed to the strict criteria. Businesses had to prove their accumulated energy costs and show that this had led to a 50% drop in revenue.
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As a result, the government hopes that the extension will reach more small businesses affected by the rise in energy costs, with the largest companies allowed to receive up to €7.5 million in aid.
The amount of aid provided to businesses is calculated according to the size and scale of the business. Individual entrepreneurs are entitled to up to €500,000 assistance if they have especially high energy consumption.