“It feels fantastic to be a part of this initiative! Together, we can help save Sweden’s small business owners in a situation that for many would otherwise have meant an end to, ”says Therese Paulmarken, CEO of PAULMARKEN HOLMBERG. “Everyone who wants can join and contribute and the nice thing is that even a small amount makes a difference here,” she continues.
Small business experts have formed the Krisfonden.org foundation, to help Sweden’s most important employers through the Corona crisis.
Sweden’s most important employers are small companies with one to ten employees. These companies employ approximately 1.3 million employees in Sweden today, and are the basis for the country’s growth at the same time as they become an indispensable tax base for financing our common welfare.
Many small businesses today face the threat of doom with the consequences of COVID-19!
Most small businesses will need more financial support than the government has announced. They will need direct support for salaries and other fixed costs, and in many cases will not be able to fully take advantage of the support measures included in the government packages as hitherto presenters.
The Crisis Fund has, on the initiative of Chris Tornblom, company builder and CEO of Metacon AB (publ), been formed by a number of people who for decades have worked tirelessly to help small companies grow. The group includes financial advisors, entrepreneurs, investors and business angels. The crisis fund’s activities are conducted in the form of a so-called fundraising foundation, and all participants are involved on a non-profit basis.
The task of the Crisis Fund shall be to mobilize capital in the form of pure donations from all who wish to provide support to this socially critical group of companies, and to distribute the funds to the most needy activities after a quick but careful selection process.
Initially, the Crisis Fund works according to the principle of providing support that helps a company to survive another month. This can be a question of salary payments, rents, business-critical supplier invoices or other significant expenses which fall due within about one month of the application.
The Crisis fund is of the opinion that the only reasonable requirement for consideration that can be made in these urgent circumstances is that the main owner or chairman of the board of the company in question signs an affidavit that the company, if it survives and gets back on its feet, then to the best of its ability should donate the equivalent sum back to the Crisis Fund.
The Crisis Fund has already secured donations from a number of private actors and companies, as well as from all founders, but larger funds are required! We now hope that more viable companies and the public will make donations. Government and other public bodies, companies and other foundations are of course also welcome.
Applications for crisis support will initially be reviewed by a team of small business analysts compiled by Eminova Fondkommission AB. For many years, Eminova has helped smaller companies with advice in raising capital, issue management and IPOs. Payment decisions are made by an investment committee with extensive knowledge of the conditions of the small business. The committee consists of Jonas Hemmingson, Michaela Berglund, Stefan Balazs and Therese Paulmarken, who are presented in more detail at krisfonden.org.