24 Sep, 2021 @ 11:25
1 min read

COVID crisis funds approved for 10,000 businesses on Spain’s Balearic Islands

Hospitality businesses to receive aid
Government pledges millions in aid for businesses affected by Covid

THOUSANDS of businesses and freelancers affected during the Covid pandemic will receive a share of €835.7 million in state funding on the Balearic Islands.

The regional government has pledged the financial support to 10,367 companies and freelancers from a state fund totalling €855.7 million.

Over 11,000 applications for aid were granted after proving to the Treasury and Labour department that they qualified. 

The hospitality industry, one of the worst affected sectors, will benefit the most with almost four in ten companies qualifying for aid. Around 2,534 hospitality companies will share €345 million, equalling 40% of the fund. 

Retail businesses will share €106 million and 693 companies in the wholesale trade industry will receive a cut from €104 million. Many other industries including retail, construction and agriculture will also benefit.

Several companies with a tax domicile outside the Balearics but have a permanent business in the Islands will also share €8.5 million.

Full details of the aid package was published in the Boletín Oficial de las Islas Baleares (BOIB).


Terenia Taras

Terenia Taras has been a regular Olive Press columnist since April 2020 after moving to Mallorca in the same year. Having spent over 20 years working as a journalist for the UK national press, including as an investigative journalist for the infamous News of the World newspaper. When she's not venting in the Olive Press, Terenia loves to travel, read and interior design. Got a story? Email [email protected]

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