ROI Business Supports

**NOTE** Businesses should seek independent financial, tax and legal advice before committing to any schemes listed below

Government approves details of
Restart Grant for Small Businesses

 

·       Direct grant aid of between €2,000 minimum and €10,000 based on commercial rates bill from 2019.

·       Scheme applies to small businesses with a turnover of under €5m and employing 50 people or less.

·       Scheme opens for applications on Friday 22 May through the Local Authorities.

The Government has agreed details of the new €250m Restart Grant, which will give direct grant aid to micro and small businesses to help them with the costs associated with reopening and reemploying workers following COVID-19 closures.

The Grant will be available to businesses with a turnover of less than €5m and employing 50 people or less, which were closed or impacted by at least a 25% reduction in turnover out to 30th June 2020. It is a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers.

The grants will be equivalent to the rates bill of the business in 2019, with a minimum payment of €2,000 and a maximum payment of €10,000.

Applications for the Restart Grant can be made online to local authorities from Friday 22nd May.

Processing of applications and payment of the Restart Grant will depend on the initial surge of applications but, as far as is feasible, will be prioritised according to scheduled re-opening dates in the national Roadmap.

This direct grant support is part of the wider €12bn package of supports for firms of all sizes, which includes grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst our SMEs.

About the Restart Grant

Micro and small businesses are particularly vulnerable to the economic effects of Covid-19. Many businesses, even while closed, continue to incur costs including fixed costs without being able to generate revenues. It is recognised that businesses will also incur costs in preparing their businesses to reopen and meeting the needs of employees and customers. The Restart Grant is designed to alleviate the pressure on businesses in this context.

To avail of the Restart Grant, a business must be in the Local Authorities Commercial Rates Payment System and:

  1. have an annual turnover of less than €5m and employ between 1 to 50 people;
  2. have closed and/or suffered a projected 25%+ loss in turnover to end June 2020;
  3. commit to remain open or to reopen if it was closed;
  4. 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.

The grant can be used to defray ongoing fixed costs, for replenishing stock and for measures needed to ensure employee and customer safety.

 

Local Enterprise Offices 

The new Business Continuity Voucher, available through Local Enterprise Offices, is designed for businesses across every sector that employ up to 50 people.

The voucher is worth up to €2,500 in third party consultancy costs and can be used by companies and sole traders to develop short-term and long-term strategies to respond to the COVID-19 pandemic.

The goal is to help companies make informed decisions about what immediate measures and remedial actions should be taken, to protect staff and sales.

If your application is successful, a qualified expert will be selected by your Local Enterprise Office to work with you on your business continuity plans. The value of this service is up to a maximum of €2,500.

Full details available HERE

Irish Government Support For Business

The Department of Business, Enterprise and Innovation (D/BEI) have published the Government supports for business, including enterprise supports, social protection supports, D/BEI’s new call centre helpline, HSE guidelines for employers, etc.  While the situation is changing daily with new supports coming on-stream regularly, D/BEI are keeping all relevant information updated HERE

Temporary COVID-19 Wage Subsidy Scheme

The government has announced a National COVID-19 Income Support Scheme. This will provide financial support to Irish workers and businesses affected by the crisis.

COVID-19 Temporary Wage Subsidy Scheme – Information on Employer Eligibility and Supporting Proofs 

Frequently Asked Questions on: Operation of the Transitional phase of the Temporary COVID-19 Wage Subsidy Scheme.

COVID-19 Information and advice for taxpayers and agents 

If you are self-employed, you can apply for the COVID-19 Pandemic Unemployment Payment.

Income Supports

A number of income supports are available from the Department of Employment Affairs and Social Protection for your employees during a COVID-19 (Coronavirus) related absence or temporary lay-off from work:

Revenue

  • If you have concerns about your ability to pay your tax liabilities speak to the Revenue Commissioners, who have advised: “On an on-going basis, Revenue engages with viable businesses experiencing temporary cash flow or trading difficulties that affect the timely payment of tax. Revenue works very successfully with businesses that engage early to resolve their tax payment difficulties. Revenue will engage with any viable business that experiences temporary cashflow difficulties, including difficulties arising from exceptional circumstances such as the COVID-19 (Coronavirus) outbreak.”

https://dbei.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/Government-supports-to-COVID-19-impacted-businesses.html

 

Enterprise Ireland

Enterprise Ireland has a number of supports available to help businesses mitigate the impact of Covid-19 (Coronavirus).

Business Response Planning Supports include:

  • €200m Package for Enterprise Supports including a Rescue and Restructuring Scheme – available through Enterprise Ireland for viable but vulnerable firms that need to restructure or transform their businesses, details of these supports are being finalised.
  • €200m Strategic Banking Corporation of Ireland (SBCI) Working Capital Scheme – for eligible businesses impacted by COVID-19,
  • Short Time Work Support – is available from the Department of Employment Affairs and Social Protection and is an income support payment for employees who have been temporarily placed on a shorter working week and is intended to help employers during periods of temporary difficulty.
  • COVID-19 Pandemic Unemployment Payment – from the Department of Employment Affairs and Social Protection will be available to all employees and the self-employed who have lost employment due to a downturn in economic activity caused by the COVID-19 pandemic. The payment has a one–page application form and will be paid for a period of 6 weeks at a flat rate payment of €203 per week for jobseekers.
  • Finance in Focus – “Finance in focus” grant of up to €7,200 available to Enterprise Ireland and Údarás na Gaeltachta clients to support financial planning
  • Strategic Consultancy Grant – for SME’s to assist the company development of a strategic response plan
  • Act On Initiative – providing access to 2 days consultancy engagement at no extra cost to access Financial Management, strategic sourcing and transport and logistics advice
  • Key Manager Support – to provide partial funding towards the recruiting of a Full or Part time Manager with critical skills for future growth
  • Agile Innovation Fund and Operational Excellence Offer
  • Be Prepared Grant – designed for Enterprise Ireland clients who would benefit from further research and external expertise in examining their exposure to Covid-19 and exploring ways of addressing this.
  • The Business Process Improvement Grant – used to support short to medium term company projects that improve efficiencies and business process improvements. Specific E-marketing support is available through this grant to develop and enhance your company’s capability to use the internet as an effective channel for business development. Further information can be found here or by contacting ebusiness@enterprise-ireland.com
  • Vouchers for business continuity preparedness, innovation and productivity will be available through Local Enterprise Offices in every local authority area.
  • The Credit Guarantee Scheme is a government supported product from the banks for small and medium businesses who have difficulty borrowing from their bank. Businesses can apply for loans of up to €1 million at AIB, Bank of Ireland or Ulster Bank. Loans can be for terms of up to 7 years. The scheme provides an 80% guarantee to participating banks which are AIB, Bank of Ireland and Ulster Bank.

 

Irish Banks

The five main Irish banks have introduced a range of measures to help those affected by the outbreak of coronavirus.

This includes a payment break of up to three months, the deferment of court proceedings and the provision of working capital support to support businesses and personal customers.

 

Working from home

FAQ’s for Employers and Employees in relation to Home-Working on a temporary basis (COVID-19) HERE

 

Irish Department of Employment Affairs and Social Protection

The Department of Employment Affairs and Social Protection have a range of measures to provide income support to people affected by COVID-19 (Coronavirus).

 

CRO
https://www.cro.ie/About-CRO/Latest-News/ArtMID/1567/ArticleID/1407/Update-Regarding-Filing-of-Annual-Returns

Irish Citizens Information Centre

Additional information on supports is available from the Citizens Information Centre HERE

 

Key Updates
Here are some important additions, resources and updates for you:
www.merrionstreet.ie –  The Government has announced a National Covid-19 Income Support Scheme to provide financial support to Irish workers and companies and effected by the crisis. Other measures relevant to all citizens (including sporting events) are announced there.

www.hse.ie – More than 60,000 applications were made to the HSE’s recruitment drive for staff to join the fight against Covid-19. This may be a useful message to spread to the sporting community to encourage the passing on of that information to medical practitioners within its ranks.

www.health.gov.ie – The Department of Health information in relation to Covid-19 can be accessed through their website.

www.dbei.gov.ie – Information on measures including Microfinance Ireland Covid-19 Loan could be relevant to NGBs and clubs.

www.who.int – Up to date international Covid-19 information can be sourced from the World Health Organisation website.

www.garda.ie – The news section has links to the HSE guidelines and information on social distancing.

Resources