Total Page views

Sunday, 22 September 2013

The Government Is Promoting A New Line Of Loans For Industrial Revival

Business activities and the economy are the lifeblood of any country and this is why the government has to work with updated trends and news and implement the most beneficial strategies to encourage the existing businessmen to spread their businesses. The government is also supposed to offer lucrative loans to the aspiring individuals to start new businesses. In this regard, government is taking a few steps and the loan facility is included in it.

The Department of Business and Employment of the Government by the Institute Catala de Finances (ICF) has promoted a new form of financing with a credit line aimed at the revival of industrial activity.As reported on Sunday the Government in a statement, the loans are aimed at investment projects for the implementation and development of new facilities or expanding existing ones. The objective of this initiative is to facilitate the access to finance, improve competitiveness and help create better workplaces.

The amount of this line is 20 million and the loans will be between 500,000 and two million repayable over seven years with two of deficiency included and projects may include working capital financing up to 30% of their value. The ICF will provide the resources and manage the online loan while the Department assumes 80% of the risks.

There are always individuals who have the ideas to sell make and sell things pertaining to different industries like the best paper shredders, photocopiers, etc. and they just need a little push to g o ahead and play their role in boosting the country’s economy. Suhc an effort has been made by The Dutch government that will provide temporary residential permits to the foreign citizens willing to invest more than 1.25 million companies in the country in order to boost the economy.The measure will take effect on October 1 and permissions granted shall be valid for one year, as explained by the Secretary of State for Justice, Fred Teeven.

The Ministry of Finance will be responsible for reviewing applications to assess whether they provide an added value for the country such as creating jobs.In addition, Netherlands is planning to study in depth the origin of the money that stakeholders are willing to invest in order to ensure that the mechanism is not used for money laundering.

According to Teeven, the government expects hundreds of applications with this system, already used by other countries such as Canada, USA, Australia, UK, France and Ireland.Holland has had a steady increase in unemployment in recent months which is expected to go on to the next year when unemployment is expected to affect 7.5% of the active population.

The difficult economic climate has forced the government to announce repeated cuts in order to control the deficit; according to recent forecasts in 2014, it will reach 3.3 percent of GDP.