We hope the mentioned good practice case will encourage other governments and policymakers to do the same in their respective countries. Exhibitions and trade shows are the fastest of fast-tracks to economic recovery once the coronavirus crisis has passed and will deliver the best return on investment now. We sincerely thank UFI, EEIA, and EMECA for providing valuable information.
CASE STUDY: PORTUGAL
Portugal was one of the most aiding countries when it came to the meetings and exhibitions industry. Their financial aid helped the industry persevere.
EMERGENCY HELP
Measures related to public guarantees, loans, tax deferrals:
On 22 March 2020, four Portuguese guarantee schemes for small and medium-sized enterprises (SMEs) and midcaps affected by the Coronavirus outbreak were launched. The schemes were approved under the State aid Temporary Framework, and apply in four different sectors: (i) tourism; (ii) restaurants; (iii) extractive and manufacturing industry; and (iv) travel agency activities, tourism, event organisation.
On 4 April 2020, two Portuguese State aid schemes to support the Portuguese economy in the context of the coronavirus outbreak were introduced. The schemes are to support companies affected by the coronavirus outbreak: a direct grant scheme, and a State guarantee scheme for investment and working capital loans granted by commercial banks. The support under both schemes will be accessible to small and medium-sized enterprises
(SMEs) and large companies facing difficulties due to the economic impact of the coronavirus outbreak. The aim of the schemes is to help businesses to cover their immediate working capital or investment needs, thus ensuring the continuation of their activities.
RECOVERY HELP
Measures related to public guarantees, loans, tax deferrals:
On 30 November 2020, a €1.2 billion Portuguese scheme to support micro, small and medium companies active in sectors particularly affected by the coronavirus outbreak was launched. The public support takes the form of direct grants available under two different measures: ‘Apoiar.PT’, open to micro and small companies exclusively active in commerce and services open to consumers, cultural activities, touristic activities, the hospitality sector, and food and beverage service activities, and ‘Apoiar Restauração’, open to micro, small and medium companies in the food and beverage sector. The aim of the measures is to address the liquidity needs of the beneficiaries and help them continue their activities during and after the outbreak.
To find out more about Portugal’s aid scheme, click here.
