“Working Capital Subsidy to Catering Enterprises for the Supply of Raw Materials”

The conditions of participation for businesses are as follows:
α) Have commenced operations by 31.12.2020.
(b) Have as their main ID of business activity or highest revenue ID of business activity one of the eligible ID of business activity:

• 56.10: Restaurant and mobile food (canteen) service activities
• 56.21 : Event catering activities
• 56.29.20: Other food service activities
• 56.30 : Beverage serving activities
  For businesses that start operations before 01.01.2020, the audit is based on the ID of business activity with the highest revenue, as indicated in the relevant field of the E3 Form for the 2019 tax year. For businesses starting operations in 2020, the audit is based on the main ID of business activity.
  c) To keep single-entry or double-entry accounting books. 4308/2014.
  d) Be liable to submit VAT Returns
  e) Show a decrease in their turnover for the year 2020 of at least 30% compared to the turnover of 2019. The turnover for the year 2019 is derived from the submitted E3 form.
  For enterprises that have started operations in 2019, the turnover of the year 2019 is compared with the turnover corresponding to an equal number of days in 2020.
  Budget and grant limit
  The public funding covers part of the working capital required for the supply of raw materials for the enterprises of the Catering Sector in order to become ready for production.
  Each company will be awarded a total non-refundable grant in the form of Working Capital, which may amount to a maximum of 7% of the annual Turnover for the year 2019, as calculated on the basis of the tax returns submitted by the company.
  For enterprises that have started operations in 2019 or 2020, the imputed turnover of the year of commencement of operations (2019 or 2020) is calculated as the total turnover of the year (2019 or 2020) divided by the number of days of operation of the year (2019 or 2020) multiplied by 365 or 366 respectively. Total non-refundable aid in the form of Working Capital is given, which may amount to a maximum of 7% of the gross turnover of the start-up year (2019 or 2020) as calculated.

In all the above cases, the grant cannot exceed €100,000 per enterprise.
Businesses’ expenditure on the supply of raw materials is eligible from 1 April 2021 onwards.
The working capital advance paid for the supply of raw materials must be used up by 31.12.2021.
The deadline for online submission of proposals is 14/05/2021 at 10:00 and the closing date is 30/07/2021 at 15:00.