New Small Business Assistance Scheme for COVID

Applications open for businesses ineligible for CRSS & other sector specific grants

On Thursday 11th March The Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD opened applications for the €60m Small Business Assistance Scheme for Covid (SBASC). 

This scheme is 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.

Eligible businesses will receive a payment of €4,000 for Quarter 1 of 2021. There will be a second payment of €4,000 for businesses continuing to meet the criteria.

Eligibility conditions:

The scheme is available to companies, self-employed, sole traders or partnerships, with a minimum turnover of €50,000 and are not owned and operated by a public body. The Scheme is open to firms that currently employ less than 250 and with current turnover of less than €25m;

the business is not eligible for CRSS, the Fáilte Ireland Business Continuity Scheme, or the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media’s Live Performance Support;  

the business must operate 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 business must have a current eTax Clearance Certificate from the Revenue Commissioners;

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 1st January to 31st March 2021, and 30th of June 2021 where applicable, for businesses that commenced after 1st November 2019, and the financial plans as of end of 2019 should be uploaded with the application;

the business intends to resume trading in full once Government restrictions are eased;

Chief Executive of the Council Mr John G.  Mc Laughlin welcomed the scheme stating; “the new SBASC builds on the broad range of financial supports in place to help businesses stay afloat so that they can reopen again when it is safe to do so. For qualifying businesses there will be two payments of €4,000 which can be used towards meeting their fixed costs. I urge qualifying businesses to reach out and ensure they get what they are eligible for” 

The SBASC scheme was also welcomed by The Cathaoirleach of the Council Clr Rena Donaghey who stated “I would encourage small businesses to ensure they are aware of the supports available to them.  The Irish economy right across the country needs small businesses to survive and thrive once our economy is opened again.” 

Applications opened on March 11th for the first round of the scheme, with a closing date of 21st April, 2021. Applications for the second round of the scheme, for businesses who continue to meet the criteria can be made from May 2021.

Further information including Application Form & FAQ can be found at https://www.donegalcoco.ie/smallbusinessassistancescheme/