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NOV. 5, 2019

President Piñera announces measures to support SMEs impacted by acts of violence: “Together, we will turn these times into a great opportunity.”

The President spoke with entrepreneurs from small and medium enterprises (SMEs) impacted by looting and low sales. He announced that he has fast-tracked the passage of the 30-day Payment Act and that the government will offer payment options for tax obligations, free advising, loans, rescheduling of obligations and increased financial flexibility. These measures will benefit 6,800 entrepreneurs who were impacted by violence and their over 40,000 direct employees.

This Tuesday, President Sebastián Piñera announced measures to support SMEs impacted by looting and violence. The measures range from new resources and tax benefits to fast-tracking a law on timely payment and a program that encourages purchasing from and donating to small and medium enterprises.

“Together, we will turn these times into a great opportunity,” said the President, who met with small-scale entrepreneurs at the La Moneda Palace to talk about the situation the sector is facing.

The President announced early enactment of the 30-day Payment Law and agreements with the financial sector to benefit SMEs, including special rescheduling and flexibility, new working capital loans and streamlining insurance claims processing.

This comes in addition to payment facilities for tax obligations that include extended deadlines for VAT declarations, tax recognition of inventory losses, reassessment of real estate for tax purposes and exemptions from fines for loss of tax documents.

The President also announced subsidies, loans and soft guarantees for SMEs impacted by violence that will benefit close to 6,800 enterprises that directly employ about 40,000 people.

The Superintendence of Insolvency and Renewal will provide professional assistance and advising to the impacted SMEs free of charge.

Furthermore, the Elijo Pyme (I Choose SMEs) campaign will encourage people to shop at SMEs in order to facilitate their recovery and growth.

Finally, the President announced that he will submit a bill to Congress designed to promote and facilitate donations to micro, small and medium enterprises impacted by violence.

“I am certain that we will once again show what Chileans are made of. Our spirit is reflected in the effort behind every SME and the noble, caring soul of our country,” said the President, who was accompanied by the Finance Minister Lucas Palacios.