Cash available to help Japanese leather companies recover from covid-19
The Japan Leather and Leathergoods Industries Association (JLIA) has alerted its members to a government support package.
JLIA said that the country’s ministry of economy, trade and industry is making financial support available to help small and medium businesses (SMEs) recover from the covid-19 crisis. The government has gone as far as saying it wants to support a drastic restructuring of SMEs in Japan.
In a statement, the leather industry body said it supported the idea and encouraged its members to “take the plunge” and restructure their businesses. It said the changes the government wanted to see included developing new markets and establishing new formats for doing business. Expanding the scale of their operations is another possibility.
To help companies make these changes, subsidies of up to $45,000 are available to SMEs with five employees or fewer. For companies with up to 10 employees, the subsidy can reach $90,000. For those with 21 or more employees, the government is offering subsidies of up to $135,000.
