Spain announces additional financial support for self-employed affected by lockdown

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The Spanish Government has announced additional support for the self-employed who have been affected by the country’s lockdown and coronavirus crisis. In short, they can stop paying their social security contributions with immediate effect, and access unemployment benefits worth around 700 euros. They can also apply for a business loan up to 75% of their losses.

According to Spain’s Ministry of Social Security, the self-employed who have had no choice but to stop all trading activity as a result of the country’s lockdown and experiencing declines of 75% or more in their income, are eligible for this financial help.

“If your business activity has ceased as a result of the shutdown, then this financial support can now be accessed immediately,” confirms Lorenzo Amor, President of the Spain’s self-employed association (ATA).

These latest measures are thanks to the petition made by the opposition’s leader, Pablo Casado of PP. He felt that the financial support for businesses introduced last week simply did not go far enough to help the country’s self-employed, who currently represent around 18% of Spain’s commercial activity.

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Pepi Sappal

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