500 million euros Brexit support for Dutch business

Brexit Adjustment Reserve

The government is making a total of 500 million euros available through the so-called Brexit Adjustment Reserve for Dutch entrepreneurs and fishermen who are dealing with negative consequences of Brexit. The money was made available by the European Union and is intended to support entrepreneurs in the transition to the new situation where the United Kingdom is no longer part of the EU.

The 500 million euros for entrepreneurs will be distributed through several schemes that are currently being worked out. The Rijkdienst voor Ondernemend Nederland (RVO) will implement these schemes for the Ministries of Economic Affairs and Climate (EZK) and Agriculture, Nature and Food Quality (LNV).

Schemes for the wider business community

Due to Brexit, a large number of companies have had to adapt to other laws and regulations in order to continue doing business with the United Kingdom. For them, the Ministry of Economic Affairs is developing subsidy schemes to help with Brexit-related costs. These include costs for, for example, information campaigns, customs-related training, ICT and advisory costs and temporary hiring of additional transport equipment. 268 million euros has been reserved for the two subsidy schemes.

In addition, the RVO supports entrepreneurs who wish to do so in discovering new markets through the so-called internationalization program. This support can take place on an individual basis and at sector level. 32 million euro has been reserved for this.

Arrangements for fishermen

For fishermen who are directly affected by Brexit, 200 million euros will be available. There are three schemes in place. To make the fishing industry future-proof and in balance with the changed fishing opportunities as a result of Brexit, owners of vessels who want to stop can make use of a restructuring scheme. For this purpose, 155 million euros have been reserved. For fishermen who want to continue, a stillage scheme and liquidity scheme will be available.

Owners of fishing vessels can apply for a subsidy for the laying-up of their vessel in the years 2021, 2022 and 2023 with the lay-up scheme. This allows them to adapt to the new situation. There is 33 million euros reserved for this.

And through the liquidity scheme, fishermen can receive compensation for the income they lost in the first quarter of 2021. There is 12 million euros available for that.

What support can entrepreneurs get?

The schemes mentioned are currently being worked out. More information about the Brexit Adjustment Reserve can be found at www.rvo.nl/bar.