Neistart Lëtzebuerg: financial state aid to support Luxembourg businesses and stimulate investments during the COVID-19 period has been saved
Neistart Lëtzebuerg: financial state aid to support Luxembourg businesses and stimulate investments during the COVID-19 period
People like you are dealing with one of the most expansive crises in recent memory, requiring empathy and quick decision-making to guide your people and businesses through these uncertain times. The COVID-19 pandemic is disrupting Luxembourg and the world over as never before; therefore, business strategies must also flex as never before to respond, recover and thrive in the current environment.
What is Neistart Lëtzebuerg?
The Luxembourgish government is granting, under certain conditions, investment aid to companies in financial difficulty following a significant drop in turnover. "Neistart Lëtzebuerg" is a financial state aid to help companies carry out investments that would have been canceled or postponed due to the economic crisis caused by the COVID-19 pandemic. The three priorities of the aid are encouraging employment, supporting businesses in the most affected sectors, and promoting a sustainable and inclusive recovery of the Luxembourgish economy.
Government objectives (Neistart Lëtzebuerg):
New Financial Aid Introduced for SMEs (Small and medium-sized enterprises)
Do you have any stalled projects or ideas that require maturing? Do you need a boost to get these projects off the ground?
Do these projects affect the development, improvement or innovation of your organization or processes, ideally with an environmental effect in terms of energy efficiency or circular economy?
If the answer to these questions is yes and you meet the company and project eligibility criteria, you can claim a subsidy covering up to 50 percent of your investment to a maximum amount of EUR800,000.
You can find out more information about this aid here.
Interested? Apply for the aid here through a secured platform managed by Guichet.lu.
Applications must be submitted by 1 December 2020.
Fit 4 Resilience
A program to help companies reinvent themselves after the Covid-19 crisis
Do you need help to assess the impact of the crisis on your organization and to figure out how to reposition your future activities?
A Fit for Resilience diagnosis can help you see things more clearly and get you on your way to relaunching your activity.
Through Luxinnovation, the Ministry of Economy can cover 50 percent of the cost of this diagnosis (up to a maximum of EUR30,000).
Check your eligibility here.
Interested? Apply for the aid here.
Applications must be submitted by 31 December 2020.
How can Deloitte help you?
Together, we can help you:
- Understand the eligibility requirements of both programs;
- Help you identify and/or structure any projects; and
- File and submit your documentation.
Going even further, our core business can help you:
- Implement efficient processes to increase your profitability (acting on processes, organization, people and tools);
- Digitalize your processes with tailor-made or packaged solutions;
- Implement change management or innovation strategies;
- Perform complex financial analysis, funding processes, valuations and transactions (buying or selling of businesses); and
- Advise you on tax aspects of your activities (cross-border tax, transfer pricing, intellectual property, etc.)
We can provide you with all the power and knowledge of a network of more than 300,000 professional specialists across the world.
Do not waste another minute. Get in touch today to find out if you are eligible and the next steps to develop your business for now and the future.