Package of new measures to facilitate access to cheap funds for SMEs, ease burden on indebted households

The government is adopting a package of three measures designed to boost entrepreneurship, increase employment and relieve major categories of households and businesses of excessive debt.
The measures aim is to give small and medium-sized businesses access to cheaper financing via the stock market, further reduce non-wage costs for all companies and offer settlements on favourable terms for households and businesses whose debts are in arrears.
Two have already been announced by the national economy and finance ministry and are included in the new draft bill for upgrading the capital market, along with the doubling of the income criteria for inclusion in the out-of-court debt settlement mechanism, which was previously only open to vulnerable households, presented by National Economy and Finance Minister Kostis Hatzidakis the previous week. The third is being prepared by the labour ministry and envisages a reduction of social insurance contributions for overtime, and for additional hours worked at night and on holidays.
Hatzidakis said the economic policy priority at this time is to tackle specific problems facing large numbers of businesses and households, in order to improve the economic environment and achieve higher rates of economic growth.
The bill upgrading the capital market introduces new alternative ways for smaller companies to get cheap money via the stock market, with measures that include a greater discount for the costs of SMEs being listed on the exchange, a reduction of taxes on the interest earned from company bonds acquired by individuals resident in Greece to 5% from 15% – making the taxation of both domestic and foreign investors the same. It also expands incentives for angel investors to invest in the Alternative Market (50% of the investment discounted from taxable income up to 300,000 euros), among other measures that facilitate the access of smaller companies to the market.

cource:amna.gr