New Small Business Assistance Scheme
A new Small Business Assistance Scheme for Donegal businesses hit by Covid is open for applications.
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD opened the scheme for 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.
- 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 January 1 to March 31 2021 and June 30 2021 where applicable, for businesses that commenced after November 1, 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;
Newly appointed chief executive of the council, John G. McLaughlin, 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,” he said.
The SBASC scheme was also welcomed by the cathaoirleach of the council, Cllr Rena Donaghey who encouraged 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 Thursday last, March 11 for the first round of the scheme, with a closing date of April 21.
Applications for the second round of the scheme, for businesses who continue to meet the criteria can be made from May.
Further information including an application form and a FAQ sheet can be found at: https://www.donegalcoco.ie/smallbusinessassistancescheme/
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