Up until 27 december it is possible to apply for NOW 3. This is the 3rd consecutive support package from the Dutch government, to help you pay the wages of your staff. It covers up to 80% of your wage costs, depending on your turnover loss.
As this funding is a gift (not a loan), be sure to apply for it if you are eligible! In case of questions, feel free to contact INretail.
The funding is based on coverage of wage costs for Oct – Dec 2020. The wage costs consist of the gross wages plus 40%, to cover the extra personnel costs (such as holiday allowance) on top of the gross wages. NOW 3 covers up to 80% of these wage costs, depending on your turnover loss.
The total wage costs for the company may drop 10% in comparison to previous months, without having a negative effect on the final calculation afterwards. This means you can terminate contracts due to budget cuts, without losing the NOW support. In case of an economic dismissal via a UWV procedure, companies must report this at the NOW department of UWV. Also, they are obliged to make an effort in accompanying employees to new employment elsewhere. There are no fines imposed due to economic dismissals. There is fine however, if you do not have contact with the UWV with regards to the effort of accompanying employees to a new employment elsewhere.
Turnover loss is based on your expected turnover for Oct – Dec 2020, Nov – Jan 2021 or Dec – Feb 2021. This turnover will be compared with 25% of the annual turnover of 2019. The turnover loss has to be 20% or more.