Japan Eyeing New Subsidies for Small Firms’ Biz Conversions

Politics

Tokyo, Nov. 19 (Jiji Press)--The Japanese government is considering creating a subsidy program to support small companies that are trying to convert to new businesses amid the novel coronavirus epidemic, it was learned Thursday.

The new program will be included in the government’s third supplementary budget for fiscal 2020, which ends next March, informed sources said. The government hopes to launch the program by the end of the current fiscal year.

The coronavirus crisis is helping increase contactless services, with some restaurants switching to delivery services and lodging facilities starting to meet demand for teleworking.

On the assumption that the economic and social conditions will not return to what they were before the coronavirus crisis, the government will use the new subsidy program to fully support business conversions and new business launches by small companies and self-employed people, according to the sources.

Details of the new scheme will be fixed later, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press