Small Business Wage Subsidy (SBWS) Program – Eligibility and Application
The coronavirus crisis hits people with full force. It affects everyone and anyone, regardless of their social status. The global economy is in a state of paralysis. A lot of businesses closed, production has ground to a halt. The government hopes to dish out generous aid packages to business owners, freelancers, and companies in need but the resources are limited. Lucky are those who will be reached by ‘dole outs.’
If you (1) own a small-sized business, (2) affected by the Enhanced Community Quarantine (ECQ), and (3) have been compliant with the regulations of the Bureau of Internal Revenue (BIR) and SSS, you might be eligible for the Small Business Wage Subsidy (SBWS) Program.
SBWS is a financial assistance program for small businesses and its affected employees to help mitigate the impact of the quarantine.
Check here to see if your business is pre-qualified for SBWS.
|Application Period||April 16 to May 8, 2020|
|First tranche of payout||May 1 to 15, 2020|
|Second tranche of payout Note: schedule may change depending on the timing of the ECQ||May 16 to 31, 2020|
HOW MUCH WILL BE PROVIDED THROUGH SBWS PROGRAM
The government, through the Social Security System (SSS), shall provide a wage subsidy of between 5,000 to 8,000 pesos (based on the regional minimum wage) per month per eligible employee. This wage subsidy shall be given for up to two months to eligible employees so that affected small businesses are able to retain their employees during the quarantine period. The applications will be completed by the employer on behalf of their employees.
MODES OF PAYMENT
- Withdrawal via employee’s SSS UMID cards enrolled as ATM
- Withdrawal from employee’s bank account for PESOnet participating banks (see list here)
- Employee’s Union Bank Quick Card (partnership with SSS)
- Employee’s E-wallet: PayMaya
- Cash pick-up arrangement through MLhuillier
For instructions on how to apply for the Program, please click here.
Those who would like to appeal for consideration to the SBWS Program can submit their request to SBWS_BIRquery@bir.gov.ph until April 30, 2020
Be part of the Love Eat Wander Facebook community and be connected with thousands of like-minded individuals. Share your travel stories through Tweets and Instagram photos. Please follow @loveeatwander.
Thank you for dropping by!
Should you want to add/dispute something in this article, please leave a comment below. We would love to hear from you!