Daily Israel Report

Economics Ministry Ready to Help Southern Businesses

The Economics Ministry is offering special help to the many businesses in southern Israel facing financial losses from the war.
By Yaakov Levi
First Publish: 7/24/2014, 3:53 PM

Israeli house destroyed by rocket strike in city of Yehud
Israeli house destroyed by rocket strike in city of Yehud
Flash 90

With many businesses in southern Israel facing financial losses – or even ruin – due to damage and loss of business as a result of terrorist rocket fire, the Economics Ministry is offering a plan that will provide special assistance for small and mid-sized enterprises in the south.

According to the plan, factories and businesses will be able to take out low-interest loans, receive help in getting compensation from government agencies and insurance companies, and other special benefits.

The project, overseen by the Agency for Small and Mid-Sized Enterprises at the Ministry of the Economy, is meant for businesses in the front-line communities, within 40 kilometers of the Gaza border, that have for years been targeted by Gaza terror rockets, and have been especially hard-hit during the war.

Besides help in getting compensation from Property Tax (mas rechush), businesses will also be eligible to receive up to 20 hours of free consulting services to help them get back on their feet, emergency guidance on issues such as financing, labor law, cash flow, etc., and assistance in getting low-interest loans from government funds and private organizations. The government will offer as much as NIS 100 million ($35 million) in loans, which any business that meets the government's criteria can apply for.

According to Economics Minister Naftali Bennett, “We are also supporting the soldiers on the economic front. Economic soundness and ensuring financial security of businesses in the south is a critical part of the strength of residents of the south. We are taking steps to support businesspeople and ensure their stability immediately, and we will continue to do so after Operation Protective Edge is over.”