Rent relief a big plus for businesses

June 1 , 2020

One of the pillars of the second fiscal 2020 supplementary budget is rent relief for business operators that have seen revenues hit hard by the pandemic, an outlay worth some 2 trillion yen that Komeito lobbied hard to include. Another Komeito initiative is the 2 trillion yen allocated to local governments in their fight against COVID-19, a sum that follows the 1 trillion yen already dispensed in the first supplementary budget.

Under the latest national program, small and middle-tier enterprises as well as freelance workers will be entitled to a maximum of 6 million yen if they experience a set decline in revenues. Local governments are also providing subsidies to business tenants.