International Support COVID-19

• Local tax & government Covid-19 regulations
• Local labour laws
• People management and cultural differences
• Business development needs
• Local funding / investor challenges 

This is a high-level overview of the key markets you might be active in and the way they support startups/scaleups during COVID-19 times.

• Coronavirus Business Interruption Loan Scheme
  This temporary scheme supports SMEs with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to 6 years.*
  
  *The problem with this arrangement lies mainly in the following condition: “Have a borrowing proposal which the lender would consider viable, were it not for the current pandemic”.

• Coronavirus Job retention scheme
  

  This arrangement makes it possible for you to furlough employees and apply for a grant that covers 80% of their usual monthly wage costs, up to £2,500 a month, plus the associated Employer National Insurance contributions and minimum automatic enrolment employer pension contributions on that wage.

  You can make use of this if the following applies to you:

  • created and started a PAYE payroll scheme on or before 28 February 2020
  • enrolled for PAYE online - this can take up to 10 days
  • a UK bank account
  • Any entity with a UK payroll can apply, including businesses, charities, recruitment agencies, and public authorities.

• Self-employment income support scheme
  You can use this scheme if you're self-employed or a member of a partnership in the UK and have lost income due to coronavirus (COVID-19)
  

• Deferral of VAT payment for 3 months
  If you’re a UK VAT registered business and have a VAT payment due between 20 March 2020 and 30 June 2020, you have the option to: defer the payment until a later date / pay the VAT due as normal.
  
  

• Statutory Sick Pay 
  

  Claim back Statutory Sick Pay paid to employees due to coronavirus. You can make use of this if the following elements apply to you: 

  • your business is UK based
  • your business is small or medium-sized and employs fewer than 250 employees as of 28 February 2020

• More specific information for the Ecosystem can be found on the following pages 
  
  • TechNation
  • Global Tech Advocates
  • ScaleUp Institute

• Small Business Guidance & Loan Resources 
  This website contains content about Coronavirus Funding Options, Guidance for Businesses and Employers, Local Assistance, SBA’s (U.S. Small Business Administration) Products, and Resources & Government Contracting.
  
  

• Recorded webinar: repercussions of COVID-19 on Dutch businesses in the US
  

  Questions discussed: What initiatives by the Federal and sub-federal authorities might affect the US Subsidiaries of Dutch companies? - What is the role of the Consulate General and other instruments of the Dutch government in supporting Dutch companies with subsidiaries in the US? - How are travel restrictions and visas impacting companies?

  Legal matters to consider in these challenging times: force majeure, office rental options, non-performance issues. - What are the options for employers and employees when workforce reduction is necessary? - What needs to be taken into account when employing from home?

• The CARES Act: A 2$ trillion total stimulus program
  

  The CARES Act: A 2$ trillion total stimulus program

  The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was passed by Congress on March 27th, 2020 to provide financial assistance to individuals and businesses.

  Which parts are most important for small businesses?

  1. Paycheck Protection Program (PPP)
  2. Economic Injury Disaster Loan (EIDL) & Advance
  3. Employee Retention Credit (ERC)

  Payment Protection Program (PPP): $350 billion in federally guaranteed loans available for small business owners to retain their employees during the crisis.

  Maximum Loan Value: up to $10M

  Loan maturity of 2 years & 1% interest rate 6 months interest payment deferral

  No collateral or personal guarantees

  • No fees
  •  The program capped at $350B, F-C-F-S
  • 100% loan forgiveness possible

• Recorded webinar: COVID-19 implications on trade: measures and support on the West Coast
  

  Recorded webinar: COVID-19 implications on trade: measures and support on the West Coast

  This webinar by the NL eConsulate San Francisco will provide you with a timely and practical overview of measures of support for Dutch entrepreneurs on the West Coast.

  - Max Oltersdorf, Deputy Director for International Affairs and Trade, Office of Governor Gavin Newsom, Office of Business and Economic Development (GoBiz) - get a clear perspective on the measures offered by the State of California to support small businesses, including eligibility requirements;

  - Jan Joosten, Partner, Baker & McKenzie - New York - gain insight into legal implications of COVID-19 (contractual, employment and immigration issues);

  - Arjan de Raaf, Founder & CEO at IDENRI - perspectives from a seasoned Silicon Valley entrepreneur.

• Andreessen Horowitz Coronavirus Resources & Readings
  

  Andreessen Horowitz Coronavirus Resources & Readings 

  The list spans everything from official sources, trackers, and data sites to medical journal information hubs, background readings, and Twitter accounts. 

• Duke’s comprehensive database
  

  Duke’s comprehensive database

  Duke’s comprehensive database of grants, loans, and other cash equivalents to help entrepreneurs, small businesses and nonprofits anywhere in the world.
  

• California Resources: Regional & Corporate Relief Funds
  

  California Resources: Regional & Corporate Relief Funds

  • California State COVID-19 resources for small businesses 
  • Sacramento County Small Business Relief Fund  (oversubscribed—sign up for updates on fund replenishment)
  • San Diego County Small Business Relief Fund
  • Bay Area Counties Small Business Relief Fund 
  • Los Angeles County Small Business Relief Fund 

• The Startup Corona Handbook
  This is a list of German public resources, analyses and events from startups for startups related to coronavirus // COVID-19. For example a weekly Townhall call is announced with KPMG and the German Startup Association, where they answer Corona questions for startups.

• BITKOM link collection
  Information about the following topics: Short-time work allowance; Emergency financial aid for a startup (on both national as state level); Digital drinks with different topics; Preparation for upcoming financing rounds; COVID-19 podcasts.

• BITKOM Securing liquidity through state aid
  Short-time work allowance, tax deferrals, sureties, immediate programs & Co. - They collect the answers to the pressing questions of these days and will regularly provide you with the latest information at this point so that you, your startup and your employees can navigate safely through the Corona crisis.

• PWC Financial support in the Covid-19 crisis situation 
  Factsheet for startups and SMEs
  

• Measures announced by the government
  

  The Singapore Government has been swift in its response to the COVID-19 virus and the economic downturn, devoting billions to firms to help them weather its impact.

  Resilience Budget

  • Those who are self-employed will receive direct cash support through a Self-Employed Person Income Relief Scheme, which offers S$1,000 per month to eligible self-employed people for nine months.
  • Self-employed people will receive enhanced hourly training allowances under the Self- Employed Person Training Support Scheme, for them to use the downtime to train and upskill.
  • From May 1, the hourly training allowance will be raised from S$7.50 to S$10.The training support scheme will also be extended to December this year.
    
    

  COVID-19 relief package

  • Companies to receive 75 per cent wage subsidy in April for the first S$4,600 of each local employee’s wages
  • Government to waive foreign worker levies due in April
  • Companies to get S$750 rebate for each employee holding a work permit or an S-pass 
  • Income relief for self-employed persons to be extended to those who also have earnings from employed work and own private properties
• Jobs Support Scheme
  Firms in the food services sector will receive 50% co-funding per local worker, while firms in the aviation and tourism sectors – the most badly affected sectors – will receive 75% co-funding.
  Companies and self-employed people will get an automatic deferment of income tax payments for three months.
  For businesses in other non-residential properties, such as offices and industrial properties, a property tax rebate of 30% will be granted.
  2 months of rental waiver for commercial tenants
  

• Easing the financial strain on individuals and SMEs caused by the COVID-19 pandemic 
  

  The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), the Life Insurance Association (LIA), the General Insurance Association (GIA), and the Finance Houses Association of Singapore (FHAS), announced a package of measures.

  Investment support schemes

  • Startup SG Equity
    This government and private co-investment scheme catalyse financing of tech startups with strong IP and global potential.
  • SEEDS Capital
    SEEDS Capital manages co-investment funds under Startup SG Equity and co-invests in scalable innovative startups with strong IP.
  • EDBI
    A government-linked fund, EDBI invests in promising companies across diversified industries ranging from advanced manufacturing, consumer, emerging technologies, healthcare, ICT and logistics. 

• Grants & Loans
  
• Working capital for SME and Startups
  
• Enterprise SG – Temporary Bridging Loan Program (max raised from S$1 million to S$5 million)
• Facebook – Small Business Grants Progra