General national economic measures
*small business relief or other financial support
*interest free crisis loans
*company tax relief
*income support for employees
*income support for freelance workers
*unemployment relief for freelance workers
-Subject to certain conditions, micro, small and medium companies will be able to obtain interest-free loans, with a grace period of six months and a repayment period of two years: micro-companies (up to 10 employees) can borrow EUR 3,000 to EUR 5,000; small companies (between 10 to 50 employees) can borrow EUR 10,000 to EUR 15,000; and medium companies (between 50 and 250 employees) can borrow from EUR 15,000 to EUR 30,000. These loans are available from the The Development Bank of North Macedonia.
-For April, May and June 2020 in the tourism, transport and hospitality, as well as for other affected sectors, employee costs will be subsidised up to 50% of the average salary paid in 2019 as long as the company keeps the same number of employees, does not pay out dividends in 2020 and doesnt pay staff bonuses. Companies making a profit in 2020 will be obliged to return these subsidies.
-Advance payment of corporate income tax in April, May, and June can also be lifted for these companies, as long as same conditions are met.
- As North Macedonia is involved in accession negotiations with the Union since March 2020, the country can apply to EU funds open to accession countries like the EU Solidarity Fund (the fund was set up for natural disasters and now includes public health emergencies).
In addition, the EU has approved assistance for North Macedonia via its neighbourhood programmme (part of its Western Balkans Covid-19 package worth 410m euros). On top of funds for healthcare systems, the EU is mobilising up to €62 million to support the social and economic recovery of North Macedonia. How the money is to be spent needs to be co-ordinated with the EU, international and national financial institutions “to support the real economy, including SMEs, and support liquidity, also of the banking sector.”
RUNDA (the independents music companies associations for the region) would like to see part of these monies used to support music and other cultural sectors.
National measures specific to the music sector or to culture in general
Music sector is asking for income support for employees and tax reduction in a period of lockdown.
Measures taken by local collecting society organisations
Other music fund available
None so far.
Support from online services
No specific support for North Macedonia so far. For more initiatives by online services, click here.
Support from national radio and other media
Nothing is changed, and previous policy is still in action.
Social media and other campaigns to promote music during the crisis
None so far.
Local programmes supported by EU funds covering music
Many EU programmes can be used in different aspect of music and is only hope for SEE region to recover after the outbreak.
Business and other expected losses
All losses that companies will go through are connected with income reduction which can affect event organisations, quality, employees, project realisation and services delivery.
For more info:
RUNDA - Regionalna udruga nezavisnih diskografa - http://runda.online/contact/