Czech businesses say government aid “too little, too late”

Many Czech firms and businesses hit by the coronavirus restrictions claim that the government’s support programs have left them out in the cold or that the financial aid has been late in coming.

In the first wave, the Czech-Moravian Guarantee and Development Bank received 3,200 applications for state support, but according to the bank, less than 200 companies will receive help. The others have been told they do not fulfil the stated conditions for aid.

The Vice President of the Confederation of Industry and Transport Radek Špicar says the coming days may decide the fate of many Czech companies.

The Ministry of Industry and Trade is already preparing a third aid program for entrepreneurs, but just days ahead of its launch companies still do not know the exact conditions for aid within COVID III.