It is widely accepted that micro and small businesses are particularly vulnerable to the economic effects of COVID-19. HABIC Ireland is all too aware that none of us have escaped the brutal impact that the Coronavirus has had on our society, our economy and our individual businesses. From engaging with our members, we know that many businesses, even while closed, continue to incur costs including fixed costs without being able to generate revenues. And of course now, as we plan and prepare to reopen and return to work, businesses will also incur costs in preparing their businesses to reopen and meeting the needs of employees and customers.
On Friday May 22nd, The Minister for Business, Enterprise and Innovation, Heather Humphreys TD, announced that the application form for the new €250m Restart Grant providing direct grant aid to micro and small businesses was available online on all local authority websites.
The €250m Restart Grant provides direct grant aid to micro and small businesses to help with the costs associated with reopening and re-employing workers following the COVID-19 lockdown.
The Restart Grant scheme is worth between €2,000 and €10,000 based on your commercial rates bill from 2019. It applies to small businesses with a turnover of under €5m and employing 50 people or less. It’s purpose is to provide a contribution towards the cost of reopening or keeping a business operational and re-connection with employees and customers.
It can be used to help cover ongoing fixed costs, such as utilities, insurance, replenishing stock, refurbishment or for measures to ensure employee and customer safely in the workplace. It is available by application to your Local Authority.
Watch this 3 Minute Guide to the COVID-19 Restart Grant
Does Your Business Fulfil the Criteria for the COVID-19 Restart Grant?
To fulfil the criteria for the COVID-19 Restart Grant, your business must:
- be in the Local Authorities Commercial Rates Payment System.
- have an annual turnover of less than €5m and employ between 1 to 50 people.
- have closed and/or suffered a projected 25%+ loss in turnover to end June 2020.
- commit to remain open or to reopen if it was closed.
- declare the intention to retaining employees that are on The Temporary Wage Subsidy Scheme (TWSS) and to reemploy staff on the Pandemic Unemployment Payment where applicable.
Apply to your Local Authority for your COVID-19 Restart Grant
If you fulfil the criteria as set out above and you haven’t done so already, we advise that you make contact with your Local Authority and apply for the Restart Grant. Find your Local Authority and apply online here:
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