Struggling Albufeira businesses to benefit from €1 million fund

A €1 million fund has been announced by Albufeira Council to support local businesses struggling financially due to the effects of the Covid-19 pandemic. As mayor José Carlos Rolo stresses, “Albufeira cannot stop”.

The fund is open to businesses in the restaurant, retail, services, industry and agriculture sectors which “have not yet received any kind of non-refundable state funding and which have closed or suffered huge losses as a result of the pandemic”.

To be eligible for support, businesses’ turnover cannot have exceeded €150,000 in 2019. They must also have been open for at least eight consecutive months last year.

After receiving the council funding, businesses must remain open and keep all staff employed until the end of 2020. Exceptions include “seasonal businesses”, which should nonetheless stay open for as long as they did in 2019 and should not close before October 31, 2020.

Businesses can apply until July 15. A form must be requested from the council and sent to age@cm-albufeira.pt.

Local mayor José Carlos Rolo hopes the initiative will help minimise the losses businesses have suffered.

“Albufeira cannot stop, as doing so will have a prejudicial effect on the municipality’s image and the lives of all those who live and work here,” he said.

michael.bruxo@algarveresident.com