Albufeira launches ‘third phase’ of support fund for local businesses

Albufeira Council has launched the third phase of a municipal fund to support local businesses affected by the Covid-19 pandemic.

A total of €542,000 is being made available to business owners who can prove that they suffered drops of at least 40% in revenue in 2020 compared to 2019.

Sectors covered by the fund include restaurants “and similar” businesses, retailers, service providers, industries, agriculture and fisheries. Bids can be presented online until March 5.

In the first two phases, Albufeira Council supported 591 businesses to the tune of nearly €1.2 million, it said in a statement to the press.

“With the extension of Portugal’s State of Emergency, the hopes of our business owners regarding Carnaval and Easter have been dashed,” said Albufeira Mayor José Carlos Rolo, adding that the municipal fund’s third phase is an attempt to “save companies, jobs and families”.

As he explained, “the situation is very serious. We are talking about economic and social survival”.

Despite the difficult situation, Rolo called on business owners to “not stop believing in Albufeira”.

“This fund has been created to help prevent the strangling of our economy, and with the (start of) vaccination programmes, it is still possible to have a summer with tourists,” he added.

More information about the municipal support fund is available online (click here).

michael.bruxo@algarveresident.com