Coronavirus (COVID-19) Guide for entrepreneurs
This simple guide is designed to help entrepreneurs to reorient & organize themselves. We would be happy to work out different scenarios for long-term financing with you. Please contact us. We are happy to help you.
1. Get an overview of your situation
Ask yourself questions about the following keywords
- Supply chain interruptions, local instead of international suppliers, order volume, delivery times etc.
- Reduced capacity, cost savings, on-site or online visits, reduced fees.
- Have you already implemented a controlling system? Do it! Our blogpost Controlling brings a sharper corporate image shows how you can best proceed.
- Create a rolling short-term liquidity plan: define liquidity measures and "quick wins
- Please inform yourself on the websites of the
- the State Secretariat for Economic Affairs SECO
- SECO Work.Swiss
- The EasyGov online counter simplifies and centralizes the administrative procedures for Swiss companies: Here you can find various support services
- Are you a start-up company? There are also possibilities for financial help for start-ups. See blogpost COVID-19: Do start-up companies also receive financial help?
Are there alternative possibilities like: Online channels/marketplaces, personal delivery, neighbourhood assistance etc.
Create different scenarios for the next weeks and months.
2. Secure your financing & liquidity
- Apply for a bridging loan: -> List of banks that grant loans
- Check the cantonal possibilities for emergency aid
- Improve your accounts receivable management
- Talk to suppliers
- Take advantage of the options for deferral of social insurance contributions (AHV/IV/EO/ALV) Page 3 and in the tax area (direct federal tax as well as state and municipal taxes)
- Deferred payment is also possible for VAT and customs duties.
- Negotiate with the landlord: he may grant you a total or partial rent reduction. The Swiss Real Estate Association (SVIT) also recommends a discussion and also sees the possibility of a rent deferral.
- Check whether it is possible to release employer contribution reserves in the pension fund
- (Partial) waiver of bonus and dividend payments
- Review the creation of provisions in the 2019 financial statements, see blog posts:
3. Initiate short-time work
- Apply for short-time work compensation; our fiduciary expert David Gisin describes how to do this in the following articles:
- Please note the requirements which we describe in our factsheet.
Coronavirus - vielfältige Auswirkungen - Facts die helfen
4. Privately you can take these precautions
- Protect yourself: Federal recommendations
- Make use of your right to self-determination: Read the article by our social insurance expert Ursula Heri: Protective provisions and living will - basis for your self-determination
5. What KENDRIS does for its employees
KENDRIS looks after the interests and health of clients and employees. Read the article by our CEO Christian Lyk: On our own behalf: Coronavirus (COVID-19)
6. General Information
- Federal Council package of measures
- Pandemic plan: what companies need to know
- Information SECO: Coronavirus: package of measures to cushion the economic consequences
- Swiss employers' association: the employers on the corona virus
- Labour law issues and effects on accounting (EXPERTSuisse)
- Information TreuhandSuisse: current information about the Coronavirus
- Additional Support for innovative start-ups