Tánaiste Opens Funding Scheme to Help Businesses with Fixed Costs

Small Business Assistance Scheme for COVID (SBASC) open from today for applications from both SMEs & microenterprises

From Department of Enterprise, Trade and Employment:

The Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD today, opened 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.

From today 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.

This SBASC is open for applications from today at all Local Authorities’ websites around the country.

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. Our aim throughout the pandemic, has been to include as many businesses as possible with all the Government funding schemes that are in place.

“Interested businesses can apply from today through their Local Enterprise Office (LEO) or Local Authority and I’d encourage them to do so. I know it’s a modest enough grant but it will make a big difference in helping with utility, IT, legal and accountancy bills and the other fixed costs incurred by a business.

“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.”

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 21st of 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.

 

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