Due to the coronavirus, you may have less or no work for your employees. As result, you will have less turnover or other income (e.g. subsidy income). You can claim NOW subsidy for a substantial compensation of your employees’ wages. In this way, you can continue to pay employees with permanent and temporary contracts. The Employee Insurance Agency (UWV) will provide an 80% advance.
A hard condition of EU projects and most nationally funded subsidy projects (includng WSBO projects) is that all staff costs must be backed up by a reliable time recording system. If this condition is not met, the funding party may reject the claimed staff costs, resulting in a repayment of the subsidy. We consider it our job to help our clients avoid such non-compliance.
A start-up venture is always (pro) active in funding and tapping into new sources. Lately two new governmental funding sources have become available to Dutch-based ventures. Below a brief outline on how to use the two sources, whether it is possible to use them simultaneously and/or separated and for which purposes.
When you start the quest for your next capital raise, creating a viable list of prospects is one of the first things to do before hitting the road. This post will provide you with some basic advice on how to get this going.