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In brief

A new shot in the arm – for struggling businesses

restaurants-monaco
Monaco Tribune

The government reintroduced measures to support the economy and employment on Thursday.

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The aim is to support the sectors most affected by the Covid-19 health crisis. The measures, which had already been put in place previously, concern the event industry, tourism, catering and certain other businesses, and will remain in effect until the end of February at least.

  • Strengthened provisions for total temporary layoff (CTTR) are renewed with the same conditions as before. To be eligible, businesses in the sectors concerned must have experienced a 30% loss in turnover compared to the same period in 2019.
  • Partial exemption from employer’s contributions is again available for those whose January 2022 turnover was under 5 million euros and at least 20% less than the same period in 2020. The commitment not to dismiss an employee for one year (except for serious misconduct or unfitness) is maintained.
  • Also, the ‘Cellule Covid19 Entreprises’ (Covid19 Businesses Unit) will be contacting companies that received aid from the Economic Recovery Support Commission (CARE) in 2021, to review their situation. To benefit, companies will have to show a 40% drop in turnover in January 2022 compared to January 2020.