General national economic measures
*small business relief or other financial support
*company tax relief
*loan repayment holiday
*interest free crisis loans
*income support for employees
*lower interest rates (general)
Official government announcement of general support measures, see here.
State loan guarantee
The state guarantees 70% of new loans given by banks due to the crisis. With a cap of €7,5 Million per company. Extra support for loan repayment holiday.
The tax is cut to zero between 1/3- 30/6 and with a cap of maximum 30 employees per company and with a cap in terms of the salary – so up to €2500/month. For the part of the salary exceeding 2500 the payroll tax stays the same.
Temporary rebate of commercial property rental costs
Up to 50% of the cost is taken by the state, between 1/4-30/6 and can be applied for now.
Possibility to delay or postpone payment of tax and VAT
Lowered tax for Self employed and small business
100% of the profit in small businesses can be of set in a non-taxable fund to cover future losses. Which means no taxes must be paid for the rest of 2020.
Sick leave without doctor’s certification extended to 3 weeks and no reduction for first day
All companies that must let employees go due to crisis get reimbursed for 75% of the payroll from the state, if they keep the employees even if they stay at home.
National measures specific to the music sector or to culture in general
The music sector can benefit from the above-mentioned general measures.
On top of this, specific measures have been introduced for the cultural sector:
-Department of Culture have announced €50m in support for the culture sector affected by cancelled events and the restrictions for live events. (see official government statement). More information to be announced shortly.
-Additional information via the Swedish Arts Council here.
-Government’s updates here.
-€30m have been earmarked for emergencies especially aimed for companies directly affected by the ban on concerts, festivals etc. with more than 500 audiences.
-On top of these governmental measures, SOM, the national association of independent labels and the local IFPI put in place some economic advice for their members, including advice and help from economic consultants on how to apply to the governments Covid funds and other financial matters, as well as two online learning sessions and a weekly update during May and June.
Sweden's lockdown strategy was different than other countries. Restrictions on travel, sport and care-home visits were implemented, possibly for a longer than in other EU countries. However, the country didn't implement full lockdown measures.
Measures taken by local collecting society organisations
-Collecting society SAMI (Swedish Artists and Musicians Interest Organisation) are making advance payments and campaigning to be able to use unclaimed sums to support their members. (see here)
Other music funds available?
-The musicians union launched a crisis fund (see here).
-The Swedish Jazz organisation has also started a fund (see here).
-Regional funding for companies in certain regions from Tillväxtverket (The Swedish Agency for Economic and Regional Growth): see here.
Support from online services
A lot of initiative when it comes to live streams at live venues. For other initiatives by online services click here.
Support from national radio and other media
None so far. National radios have said they already play enough local music.
Social media and other campaigns to promote music during the crisis
musikindustrin.se - publish daily list of all livestreamed concerts.
https://www.facebook.com/groups/svenskamusikbranschen/ - discussion forum with ideas how to manage the during the outbreak.
Local programmes supported by EU funds covering music
None so far.
Business and other expected losses
Still under evaluation.
For more info: