Economy & Politics

How small companies fight for survival in the crisis

The Corona Emergency Aid is designed to help small companies survive the Corona crisis. Photo: dpa / Robert Michael

Around 80 percent of the self-employed and small businesses in the country have applied for emergency aid. However, many other companies fall through the cracks – and are therefore on their own.

Stuttgart – The rush for emergency aid was enormous at the beginning, then the number of applications received flattened out: According to the L-Bank, the federal and state governments have now paid more than two billion euros to south-western companies to mitigate the consequences of the corona pandemic. A second aid package worth EUR 1.5 billion is on the way. In view of an interim assessment by the Federal Association of Small and Medium-Sized Businesses (BVMW), this is also urgently necessary. Although the Federal Government is grateful for its quick and decisive action, the government aid paid so far nationwide would not cover the financial needs of more than 75 percent of medium-sized companies, says BVMW President Mario Ohoven. Among other things, he demands interest-free loans from the government.

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