Financial jungle

Expert: “Not everyone benefits from subsidies”

Entrepreneur Samy El Makaram provides an overview of the funding jungle.(Bild: krone.tv)

Austria is a funding jungle. What subsidies are there anyway - which ones can we take advantage of? Only a few know their way around. Samy El Makarem, alias "Funding Minister", wants to help. The entrepreneur reaches over 100,000 followers on Tik Tok every day. 

You need to know about subsidies: There are 13.5 billion direct and 24.4 billion indirect subsidies (as of 2022). The subsidy budget is actually still very large because high subsidies were paid out during coronavirus and inflation - and some are still being paid out. But who benefits and who doesn't? 

"krone.tv" reporter Tanja Pfaffeneder (l.) and entrepreneur Samy El Makarem (r.)(Bild: krone.tv)

Who benefits and who doesn't
"Yes, there are people who can't apply for funding. These are people who earn too much," says the expert. Samy El Makarem, who can also be found on social media under "Funding Minister", helps individuals to access all existing funding and financial assistance free of charge. 

Reclaim service fee from mobile phone provider
Once a year, mobile phone providers collect a service fee from their customers. An extra 20 to 35 euros then appear on the bills. Most recently, the Chamber of Labor filed a collective action against mobile phone providers with the Vienna Commercial Court. The sum claimed could amount to several million euros. No cause for joy for the "Minister of Promotion". He warns: "It will be balanced out with the tariffs. The mobile providers want to get through the black." 

Watch the full interview above.