The Government announced a new scheme that targets businesses currently ineligible for CRSS and other sector-specific grants.
Leo Varadkar’s statement says it’s to help “some businesses that aren’t eligible for existing grants, largely because the premises they operate from have not been closed to the public” and he includes wholesalers, suppliers, caterers, office-based businesses, and events companies down 75% or more in turnover in the examples that he gives.
The Scheme will be administered by the Local Authorities.
Details of the scheme have now issued and the following is taken from the Department of Enterprise, Trade and Employment website:
Applications for Phase 1 of the Small Business Assistance Scheme for COVID (SBASC) are now open. The applications should be made to your Local Authority. The closing date for receipt of applications is 21 April 2021.
SBASC gives grants to businesses who are not eligible for the Government’s COVID Restrictions Support Scheme (CRSS), the Fáilte Ireland Business Continuity grant, or other direct sectoral grant schemes. This scheme aims to help businesses with their fixed costs, for example, rent, utility bills, security.
A payment grant of €4,000 is available for the first quarter of this year. A decision on payment for the second quarter of this year will be made in due course. To qualify for the scheme, enterprises must have:
- 250 employees or less;
- Turnover of over €50,000; and
- The turnover of the business over the claim period is estimated to be no more that 25% of previous levels – see further details below.
The scheme will be run on a first-come-first-served basis.
Details about the scheme
- the scheme is available to companies, self-employed, sole traders, or partnerships;
- minimum turnover of €50,000;
- are not owned and operated by a public body;
- the business is not eligible for CRSS or Fáilte Ireland Business Continuity Scheme or other sectoral grant schemes;
- they are in receipt of a rates bill from their local authority for a business that operates from a building, or similar fixed physical structure on which business rates are payable (mobile premises, or premises which are not permanently fixed in place, do not meet the definition of business premises nor do premises on which no rates are payable);
- the turnover of the business over the claim period is estimated to be no more than 25% of the average weekly turnover of the business in 2019 or the projected average weekly turnover of the business for 1 January to 30 June 2021 for businesses that commenced after 1 November 2019;
- the business intends to resume trading in full once Government restrictions are eased. The scheme will aid eligible businesses for the period beginning 1 January to 31 March 2021;
- the grant will be paid via the Local Authorities, based on an online application;
- eligible applications will receive an initial payment of €4,000 for Q1 2021; and
- payments will be dispersed in the same format as rates refunds via bank transfer.