Brussels approves 185 million euros Brexit support for Dutch companies | Economy

The European Commission allows the cabinet to support companies that have to incur extra costs because of the Brexit. The companies have to deal with stricter customs rules and therefore have to incur additional expenditure. They will be compensated with the support approved on Monday.

The United Kingdom left the European Union at the end of January 2020. After a transition period of almost a year, new rules for international trade were introduced. For Dutch entrepreneurs who do a lot of business with the British, this meant extra red tape.

These companies receive between 10,000 and 40,000 euros in subsidy, because they have to adjust their IT systems due to the British departure, for example. The amount may increase further for port companies and energy traders. The money can also be used for training and engaging consultancies.

There are some requirements attached to the support. For example, the money is only for companies that do business outside the EU for the first time because of Brexit. Also, their customs obligations must have actually become more complicated due to the British departure.