Leo Varadkar TD, The Tánaiste and Minister for Enterprise, Trade and Employment recently announced the second opening of the Small Business Assistance Scheme for COVID (SBASC) for a second round of applications from both SMEs and microenterprises. Businesses that received the grant in the first round can receive a second grant provided they are still eligible.
SMEs and microenterprises can apply for a grant of €4,000 for those with turnover above €50,000 and €1,000 for microenterprises with a turnover of between €20,000 and €49,999, via a new streamlined application process through their Local Authority or Local Enterprise Office. Following on from a recent Government decision, businesses operating from non-rateable premises, such as a home office or hot-desk are also eligible to apply. The Small Business Assistance Scheme for COVID (SBASC) is for businesses which are not eligible for CRSS or other sector specific grants, that are down 75% or more of turnover.
Those who applied under Phase 1 are still eligible to apply for a second payment of €4,000 or €1,000 if they continue to meet the criteria. Interested businesses should contact their Local Authority or LEO. Closing date for Phase 2 applications is the 21 July. Businesses in receipt of the Employment Wage Subsidy can apply for and receive this grant without it affecting their claim. It is a grant, not a loan or tax credit and is not re-payable.
These schemes are in addition to the comprehensive package the government has put in place to help businesses and workers during the pandemic, including the Employment Wage Subsidy Scheme (EWSS), the Pandemic Unemployment Payment (PUP), the Covid Restrictions Support Scheme (CRSS), low-cost loans, the deferral and warehousing of tax liabilities and the waiver of commercial rates.
The Tánaiste said:
“This Scheme will help small businesses not eligible for our other schemes with their fixed costs. Both SMEs and our microenterprises, those with fewer than 10 employees, can apply for a grant of €4,000 or €1,000 depending on the size of the business… We extended the eligibility recently to include those businesses that are operating from non-rateable premises such as a home office or hot-desk… My message to those running businesses today is that the government will continue to help you as you get back on your feet. Brighter days are ahead.”