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Ministry of Economy, Trade and Industry Announces Support Measures for Small and Medium-Sized Enterprises Affected by Heavy Snow in Japan Sea Coast Regions from February 17, 2025
Tokyo, February 25, 2025 (06:04 JST) – The Ministry of Economy, Trade and Industry (METI) has announced a comprehensive support package for small and medium-sized enterprises (SMEs) and small-scale businesses (SSBs) that have been affected by the heavy snow that has impacted regions along the Sea of Japan coast since February 17, 2025. The measures aim to provide immediate relief and facilitate the recovery of businesses facing disruptions due to the severe weather.
Background:
Since February 17, 2025, areas along the Sea of Japan coast have experienced unusually heavy snowfall, leading to significant disruptions in transportation, infrastructure damage, and business operations. Many SMEs and SSBs in these regions have suffered from:
- Supply chain disruptions: Road closures and transportation delays have hampered the ability of businesses to receive raw materials and deliver finished goods.
- Damage to facilities and equipment: Snow accumulation and potential avalanches have caused damage to buildings, machinery, and other essential equipment.
- Decreased sales and revenue: Customer access to businesses has been limited due to transportation difficulties and safety concerns, resulting in a drop in sales.
- Increased operating costs: Businesses have incurred additional costs for snow removal, emergency repairs, and alternative transportation arrangements.
Key Support Measures:
METI’s support package focuses on providing financial assistance, advisory services, and regulatory relief to affected businesses. The specific measures include:
- Special Loan Programs: The government, through designated financial institutions, will offer low-interest, unsecured loans with extended repayment periods to SMEs and SSBs that have suffered significant financial losses due to the heavy snow. The specific terms of these loans, including interest rates and eligibility criteria, will be announced shortly. These loans are intended to help businesses cover operational expenses, repair damaged infrastructure, and replenish inventory.
- Subsidy Programs for Reconstruction and Recovery: METI will introduce new subsidy programs to support the reconstruction and repair of damaged facilities and equipment. These subsidies are expected to cover a portion of the costs associated with rebuilding, replacing machinery, and implementing preventative measures to mitigate future damage from heavy snow.
- Tax Relief Measures: The government will consider providing tax relief measures, such as tax exemptions or deferrals, to businesses that have experienced significant financial losses. Details on the specific tax measures and eligibility requirements will be released in coordination with the Ministry of Finance.
- Consultation and Advisory Services: METI, in collaboration with local chambers of commerce and industry, will provide free consultation and advisory services to affected businesses. These services will include guidance on accessing government support programs, developing business recovery plans, and managing cash flow.
- Easing of Regulatory Requirements: METI will temporarily ease certain regulatory requirements to provide businesses with greater flexibility during the recovery period. This may include extensions for filing deadlines, streamlined permitting processes, and temporary waivers of certain regulations that may hinder business operations.
- Matching Support: Facilitating matching support between affected companies and companies in other regions and industries. This includes finding alternative suppliers, providing temporary workspaces, or sharing resources to maintain business continuity.
Eligibility Criteria:
The specific eligibility criteria for each support measure will vary. However, in general, businesses will need to demonstrate that they have been directly impacted by the heavy snow and have experienced significant financial losses as a result. Businesses will likely be required to provide documentation such as sales records, damage assessments, and insurance claims.
How to Access Support:
METI encourages affected businesses to contact their local chambers of commerce and industry or METI regional bureaus for detailed information on how to access the support measures. A dedicated hotline and website will also be established to provide businesses with a centralized point of contact for inquiries and assistance. Details on the hotline and website will be announced in the coming days.
Minister’s Statement:
In a statement released today, the Minister of Economy, Trade and Industry emphasized the government’s commitment to supporting the recovery of businesses affected by the heavy snow. “We understand the challenges faced by SMEs and SSBs in the affected regions, and we are committed to providing them with the necessary support to overcome these difficulties and rebuild their businesses,” the Minister stated. “We will work closely with local governments and financial institutions to ensure that the support measures are delivered quickly and effectively.”
Next Steps:
METI will continue to monitor the situation closely and will make adjustments to the support package as needed. Further details on the specific support measures, eligibility criteria, and application procedures will be announced in the coming days. The ministry urges affected businesses to stay informed and to take advantage of the available support to facilitate their recovery.
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経済産業省 a new article on 2025-02-25 06:04 titled “令和7年2月17日からの日本海側を中心とした大雪に関して被災中小企業・小規模事業者支援措置を行います”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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