If your company in the Netherlands is already operational, then you have probably already heard of the NOW2 by now. We already announced this topic in our previous Corona update. Since 6th of July, the NOW2 scheme is open, and all Dutch companies that meet the requirements can apply for the financial compensation.
In order to apply for NOW2 you need to calculate your monthly turnover, based on the yearly turnover (divided by 3, to show the average turnover for 4 months). Then you can compare the turnover of your new calculation, with the exact numbers of 2019 for those months.
So it's NOT about actual loss of turnover, and any actual cancelled groups. It's only about your forecast for 2020, and how that compares to 2019.
The condition for the allowance is that you have a loss of turnover of at least 20% for a period of 4 consecutive months. If you have received the first application period NOW, this 4-month period must correspond to the previous 3-month period. For example:
The first application period NOW has reported loss of turnover for April, May and June.
For the second NOW application period, you therefore report your loss of turnover for July, August, September and October.
Note: You can no longer adjust the chosen 4 months in which you expect a loss of turnover.
1) Sales loss calculation
The calculation of your turnover loss is done in this way:
Take your total turnover from 2019.
Divide this amount by 3. This is the average turnover over 4 months.
Compare your expected sales for one of the periods above with this amount.
Starting a business in The Netherlands during Corona
If you are planning to start a company in the Netherlands at his moment, your company will not be eligible for NOW2 or other forms of grants or subsidies. However, the Dutch market has opened up, and provides a great infrastructure to expand your business in Europe.
Contact our team for more information!