The outbreak of the coronavirus around the world is an extremely challenging time for all of us personally, for society and for businesses. The SJCC wants to let you know that we are here to support our members. Due to the current situation, many activities of the Chamber had to be cancelled. The General Assembly planned for 6 May and the subsequent presentation by the new Ambassador of Japan are postponed until further notice. We will keep you informed about upcoming events as soon as possible.
Economic Turbulences – Official Swiss Support
For companies and employers that are economically hit by the consequences of Coronavirus we would like to draw your attention to the latest emergency ordinances adopted by the Federal Council on the 25 March and to existing short-time work compensation:
Short-Time Work: Companies suffering from economic difficulties due to the coronavirus are eligible to the apply for short-time work. Unemployment insurance covers employers affected by short-time working for a proportion of their salary costs for a certain period. The aim is to prevent redundancies being announced as a result of unavoidable, short-term work stoppages. For more information click here.
Liquidity Support: At its extraordinary meeting on 25 March 2020, the Swiss Federal Council dealt with liquidity support for SMEs. It has decided on a major package of measures to cushion economic consequences. We give you hereafter a summary based on the Federal Council’s press release from the 25 March 2020. To give rapid access to credit to bridge liquidity shortages caused by corona, companies can apply for government secured loans at their house bank (total volume at disposal CHF 20 billion). Two credit facilities are at disposal:
- Credit facility 1: up to CHF 500,000 with unbureaucratic payment within a short period of time and 100% secured by the Swiss Confederation, current interest rate 0 %, credit application are available from today via: www.covid19.easygov.swiss
- Credit facility 2: bridging loans over CHF 500,000, 85% secured by the Swiss Confederation, lending bank participates with 15% in the loan, such loans can amount to up to CHF 20 million per company and require a comprehensive bank audit, current interest rate 0.5% on the loans secured by the Federal Government, companies with a turnover of more than CHF 500 million are not covered by this programme.