Financial aid resources

Mar 26, 2020

At this challenging time, governments and official bodies are announcing different measures to help businesses survive the COVID-19 pandemic. WYSE Travel Confederation is here to help and support its members with advice and guidance, and has been collating resources explaining the measures being put in place according to country. If your country does not feature on the below list and you have information regarding any financial aid packages being offered, please email us at communications@wysetc.org and we will include it on this page.

Governments are focusing on a mixture of tax moratoriums, payment extensions on social charges, loan guarantees and wage subsidies for workers who cannot work or who are obliged to move to part-time roles.

The European Commission plans to mobilise EUR 37 billion under its regional funding programs to combat the impact of the pandemic. It has also said that EU countries will be granted “full flexibility” in their fiscal rules to allow them to boost expenditure.

In general, the financial rescue packages proposed by governments are targeting businesses and people unable to earn income, and include:

  • State loans or credit guarantees for companies
  • Income subsidies for affected workers
  • Tax deferrals
  • Social security deferrals or subsidies
  • Debt repayment holidays
  • Working time reduction schemes

 

Australia
Australian government, The Treasury: Economic response to the Coronavirus
Australian government, Business: Support available for sole traders

Austria
Austrian Business Service Portal: Measures and advice by the Federal Government
Austrian Economic Chamber: Information service for affected companies

Belgium
Federal Public Service Finance: Aid measures

Brazil
Government of Brasil: Economic aid measures for small businesses
Government of Brasil: TodosporTodos movement

Canada
Government of Canada: Canada’s COVID-19 Economic Response Plan
Government of Canada: Support for Canadians and businesses

China
Government of China: Finance update
Ministry of Finance: How fiscal policy can be more proactive
Government of China: Updates on China’s fight against COVID-19

Colombia
Ministry of Health and Social Protection: COVID-19 Portal

Ecuador
Coronavirus Ecuador: Updates and information

France
French government – Information about Coronavirus
French government – Support measures for businesses

Germany
Federal Ministry of Economics and Technology: Information and support for businesses

India
Government of India: Updates on COVID-19

Ireland
Government of Ireland: COVID-19 Information for Employers and Employees
Government of Ireland: Latest updates on COVID-19 from DEASP

Israel
Government of Israel: Information and updates from government ministries and bodies
Government of Israel: State Guarantee Fund for small and medium business loans

Italy
Government of Italy: Council of Ministers press release
National Social Security Institute – Information relating to emergency support measures
National Social Security Institute – Guide to filling in the Epidemiological Emergency Indemnity form for self-employed

Mexico
Government of Mexico: Updates and information

Netherlands
Chamber of Commerce: Check the arrangements
Government of The Netherlands: Information on COVID-19

New Zealand
New Zealand government: Unite against COVID-19 – Financial support

Peru
Government of Peru: Emergency measures for families
Ministry of Development and Social Inclusion: YoMeQuedoEnCasa

Philippines
Department of Health: Updates on COVID-19
Department of Tourism: Updates and status reports

Russia
Government of Russia: Tour operator update
Government of Russia: Meeting on economic issues
Online Inspection: Rights of workers and employees

Singapore
Singapore Tourism Board: FAQs for Tourism Businesses

South Africa
The National Treasury is yet to announce whether the government will support affected businesses and households.
South African Revenue Service (SARS): The impact on COVID-19 on SARS
Department of Health South African Resource Portal

South Korea
Korea Current Affairs: Korea’s national response to COVID-19

Spain
Government of Spain: Royal decree law on urgent measures to face the social and economical impact of COVID-19
Government of Spain: Information for businesses

Switzerland
Federal Department of Finance: Aid measures
State Secretariat for Economic Affairs: Economic measures

Thailand
Tourism Authority of Thailand News: Thailand evokes emergency decree

United Kingdom
Government of the United Kingdom: Guidance to employers and businesses
Government of the United Kingdom: Tax helpline to support affected businesses

United States
United States government: Financial assistance after a disaster
U.S Chamber of Commerce: Coronavirus Support Package
U.S Small Business Administration: Small business guidance & loan resources

 

We will continue updating this page with new developments. 

As much as possible, we provide a link to the resource on the respective website. Although we do our best to keep the information updated, we cannot guarantee that the information is the latest. Please check with your country’s authorities for the most up-to-date information.