Turnover-based support for sole traders and turn-over based support for trading partnerships extended for the period January and February 2021
The Government has announced further restrictions to reduce the spread of the COVID-19 virus. In order to save jobs and businesses, turn-over based support for sole traders is being extended for the period January and February 2021. The announced support intended for trading partnerships – including limited partnerships – where at least one partner is a natural person is being extended in a corresponding manner. The Government’s proposals are based on an agreement between the government parties, the Centre Party and the Liberal Party.
Turnover-based support for sole traders was introduced in November this year and covers the period March–July. It was previously announced that the support would be extended until the end of the year. Turnover-based support is direct support based on loss of turnover. The aim is to give companies the means to weather the acute crisis resulting from the COVID-19 pandemic.
Turnover-based support is now being extended for the period January and February 2021. This support is intended for sole traders that lose at least 30 per cent of their turnover in January and February 2021, compared with the same period in 2019.
If the loss of turnover exceeds this level, the sole trader may receive compensation for 75 per cent of their loss of turnover, or a maximum of SEK 48 000 for the new support period. This support is available to sole traders whose turnover exceeded SEK 180 000 in 2019.
The Government has previously announced that turn-over based support for trading partnerships – including limited partnerships – where at least one partner is a natural person will be introduced. This support will also be extended in a corresponding manner as the turn-over based support for sole traders. The support to trading partnerships will be designed based on the regulations for turn-over based support for sole traders.