Economy Ministry sets up hotline for crisis-hit firms

Economy Ministry sets up hotline for crisis-hit firms
Photo: DPA
The German Economy Ministry said Wednesday it had set up a hotline for small- and medium-sized enterprises (SMEs) that are having problems with financing because of the international crisis.

Starting this Thursday, entrepreneurs with their backs to the wall can reach the Ministry’s financial experts daily from 8:00 am to 8:00 pm and on Fridays until noon.

“We do not want to leave SMEs to fend for themselves in this situation, and we will offer support where it is possible,” Economy Minister Michael Glos said in a statement.

Glos, who has remained in the background since the international crisis worsened in mid-September, has made aid to struggling businesses a top priority.

He had said previously that small German companies were not having trouble getting financing, but recently, “the first signs of deteriorating financing conditions for SMEs have begun to emerge.”