On 10 November 2021, new rules for crowdfunding will come into force. However, these rules will not affect consumer financing (as represented e.g. by the zonky.cz project: people lending to people), but strictly to entrepreneurs and SMEs and loans in amounts of up to EUR 5 million.

According to the CZSO’s refined estimate, the Czech economy grew by 0.6% qoq in 4Q20, with the year-on-year decline easing from -4.9% to -4.7%. These figures were slightly up on the advance estimates from the beginning of February of +0.3% qoq and -5.0% yoy. For full-year 2020, the economy recorded its steepest ever decline, of 5.6%, due to the pandemic.

Under the proposed amendment to the Czech Employment Act, employers will have to report:

• job vacancies, including information about such positions, within 10 days;
• employment, and changes to and termination of the positions of employees who are not participating in the sickness insurance scheme, within 8 days;
• the fact that they employ staff who are not participating in the sickness insurance scheme, within 8 days.

• GDP growth rates seen between +3% and +6%, with Hungary posting region’s strongest upswing
• CEO Bernd Spalt: „We will experience an economic rebound in 2021“
• Insolvencies: only trailing effect, no insolvency wave
• Company outlook: lower risk costs, significantly higher profits