The Coronavirus and its effect on The ImpactCity Community

We have been building an ImpactCity community in The Hague for over five years and we are proud to have you as part of our ecosystem. The corona pandemic clearly is, and will be a very challenging period for our community on both a personal and business level.

Via this message, we would like to share the different websites with information regarding measurements taken by the city of The Hague and the Dutch government in support of the corona pandemic.

The information below is a summary of the information provided by the websites we will mention regarding staff and business payment and problems, SME credit guarantee scheme, business loan guarantee scheme, support for self-employed professionals, Qredits loans, taxation and bank loans.
At the bottom you will also find a call for innovation by the European Commission and information on canceled and postponed events.

Besides this, we would also like to know what YOU as an ImpactCity business community member run into. Please let us know by contacting us corona@impactcity.nl.

Business in the impact industry is a bit more unconventional and already has its own set of challenges without the corona virus. We would like to know what impact startups and entrepreneurs see as challenges in the foreseeable future so we see where we can help.

Innovative solutions to help governments
Do you think your company can help tackle the challenges we are facing but not sure how or who to contact? Get in touch with us: corona@impactcity.nl

Please do not hesitate to reach out.

All the best for now from the whole ImpactCity team

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The Coronavirus and your company

Information and support by the city of The Hague:
The Entrepreneur Portal of the city of The Hague is available for questions and support from Monday through Friday between 09:00 and 16:00 on 070-3536004 and by email on ondernemersportaal@denhaag.nl

Self-employed professionals in The Hague:
If you have questions or if you would get into financial problems due to the corona virus, you can get in touch with SZW intake desk on 070-3537500.

More information can be found here.

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Information and support by the Dutch Government

General corona information from the Dutch Government can be found on this website.

Main business information website in English: business.gov.nl

Direct information on the Corona virus and what it means for businesses can be found here.

FAQ for entrepreneurs are answered on this page.

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Employment Bridging Emergency Fund (NOW):
What is NOW?Due to extraordinary circumstances, like the coronavirus, you have less or no work for your employees. You can apply to the Employment Bridging Emergency Fund for a substantial compensation for their wages. In this way, you can continue to pay employees with permanent and temporary contracts.
The Employee Insurance Agency (UWV) will pay you an advance.
You can claim the compensation for 3 months, with the possibility to extend it for a further 3 months. You can claim the compensation for turnover you have missed from 1st of March onwards.
You may also use the NOW if your company experiences turnover loss due to other causes than the coronavirus outbreak.

For full conditions and compensation rules, please go here.

SME credit guarantee scheme (BMKB)
If you have a business in the Netherlands and employ no more than 250 workers (you have an SME), you may be eligible for a guarantee for part of a loan through the SME credit guarantee scheme (BMKB). The Ministry of Economic Affairs and Climate Policy stands as guarantor. This will enable you to borrow more than would otherwise be possible based on your collateral.

Information on conditions and how to apply can be found here.

Extension of Business loan guarantee scheme (GO)
The Business loan guarantee scheme (Garantie Ondernemingsfinanciering, GO) makes it easier for large and medium-sized companies in the Netherlands to borrow substantial amounts of money. Capital providers receive a 50% guarantee from the government. The maximum term for the Business loan guarantee scheme is maximum 8 years.

Full information and conditions can be found on this page.

Support for self-employed professionals (Bbz / zzp in Dutch)
The financial support for self-employed professionals (Bbz) will be extended and the requirements for applying will be relaxed.
A temporary provision, available for at least 3 months, will help out entrepreneurs and self-employed professionals who have a viable business but are going through a rough patch. The provision is based on the financial support for self-employed professionals scheme (Bbz), but several requirements will be relaxed. Self-employed professionals can apply for support in the shape of additional livelihood support and/or a business capital loan.
The scheme will be executed by the municipalities. Self-employed professionals who want to make use of the scheme can apply at the municipality where they are registered.
Information announced on Tuesday 17th of March tells us that self-employed professionals will be able to apply for 3 months of financial support, up to ‘social minimums’:
– € 776 for individuals sharing a house,
– € 1219 for singles,
– € 1653 for those who are married or have a cohabitation contract.

More information on the exact rules, requirements and procedures for application for this will be announced over the coming days as the backend of this new system has to be set up. We will keep you updated on our social media channels if news is announced.

If you are a self-employed professional and you are in direct financial problems, you can contact the customer service of SZW on 070) 353 75 00. Please be aware that it is very busy at the moment!

Qredits loans
Entrepreneurs who have a loan from microcredit provider Qredits do not have to repay their loan for a period of 6 months. During this period, the interest will be reduced to 2%. The government supports Qredits with 6 million euros.

Taxation – Call the Tax Information Line
Since the information on the tax options offered to entrpreneurs udring the coronavirus crisis is mostly only available in Dutch, it would be wise to consult the Tax Information Line if Dutch isn’t your primary language. The number for resident entrepreneurs is +31(0)800 0543, non-residents can call +31(0)55 538 53 85.

It is also a good idea to ask someone – your accountant, for instance – to help you.

  • You can apply for a payment extension for income tax, corporate tax, payroll tax, and turnover tax (VAT). The Dutch Tax Administration will put on hold any measures in place to collect payment immediately upon reception of your request.
  • You will not have to pay any fines for late payment. Also, it is not necessary to send in any proof straightaway. You will have more time for this.
  • The normal collection interest rate for paying after the payment term has passed will be decreased from 4% to nearly 0% temporarily. This applies to all tax debts. The tax interest rate will also temporarily be set to the lowest possible percentage for all entrepreneurs.

Read more about the Dutch Tax Administration measures to help entrepreneurs (in Dutch).

Apply for a reduction of your provisionary assessment

Do you expect lower profits due to the coronavirus, and are you currently paying a provisionary assessment for income tax or corporate income tax? You can change your provisionary assessment. If you want to change your income tax provisionary assessment, go to the online portal for individuals: MijnBelastingdienst (in Dutch); to change a corporate tax provisionary assessment go to the business portal: MijnBelastingdienst Zakelijk (in Dutch).

Bank Loans – credit lines
The minstery of Economic Affairs and Climate and the Dutch Banking Association are in close contact to see how they can support individuals and business alike.
On this website, you will find their latest statement as well as links to most banks and their news around corona.

Chamber of Commerce
The chamber of commerce also has a website setup with information and put an corona phone number online to answer questions: 0800-2117.

Phone number available until the 20th of March for now from 08:00 till 20:00 for all business questions and help to understand which measures apply to you and your business.

Website in English.

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Call for innovation by the European Commission

Applications welcome from startups and SMEs with innovative solutions to tackle Coronavirus outbreak

The European Commission is calling for startups and SMEs with technologies and innovations that could help in treating, testing, monitoring or other aspects of the Coronavirus outbreak to apply urgently to the next round of funding from the European Innovation Council.

The deadline for applications to the EIC Accelerator is 17:00 on Friday 20th of March (Brussels local time). With a budget of €164m, this call is “bottom up”, meaning there are no predefined thematic priorities and applicants with Coronavirus relevant innovations will be evaluated in the same way as other applicants. Nevertheless, the Commission will look to fast track the awarding of EIC grants and blended finance (combining grant and equity investment) to Coronavirus relevant innovations, as well as to facilitate access to other funding and investment sources.
The EIC is already supporting a number of startups and SMEs with Coronavirus relevant innovations, awarded funding in previous rounds. This includes the EpiShuttle project for specialized isolation units and the m-TAP project for filtration technology to remove viral.

Ready to apply? Click here.

Do you need help with applying? Get in touch with us on corona@impactcity.nl!

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Postponed events

Most events are cancelled or postponed until further notice. As soon as things change and events will be planned again, we will share these with you.
23rd of March: Movies That Matter – Ideation session – new date TBD

24-25th of March: Impact Summit Europe – moved to 15-16th of September 2020

25-26th of March: Euclid Network Impact Summit – new date TBD

26-28th of March: The Netherlands Makes Impact – moved to 20-22nd of November 2020

15th of April: Money Meets Ideas – new date TBD

16th of April: HeroFestiva – new date TBDl

23rd of April: Social Finance Day

ImpactCity events:

Get in the Ring – Impact Competition
The preliminaries of the Get in the Ring Impact Competition across Europe are also postponed, new dates are to be determined. You can still apply to participate through getinthering.co/impact

ImpactFest 27th of October 2020
For the time being, the five-year anniversary edition of ImpactFest will be taking place on the 27th of October 2020. As this is still pretty far away, this date will stay in place and we look forward to hosting you all then in good health.