The Austrian Government has created a hardship fund as a "safety net for entrepreneurs". This fund provides for EUR 2 billion to provide rapid assistance for acute financial distress in the Corona crisis. Phase 1 is aimed at supporting self-employed persons suffering from huge falls in turnover. The hardship fund provides a grant that does not have to be repaid later.

An online service was established to enable quick processing of applications and avoid media brakes.

This hardship fund will help entrepreneurs who often do not have the same financial resources to cope with the economic shock of the lockdown and coronavirus, especially compared to larger companies.

Austrian Federal Government in Cooperation with the Austrian Federal Economic Chamber