Dáil Éireann Debate, Wednesday - 3 June 2020
416. Deputy Jennifer Whitmore asked the Minister for Business, Enterprise and Innovation if she will place a cap on the amount of funding provided to local authorities to administer the SME restart grant; and if she will make a statement on the matter. [9431/20]
View answerOn Friday, 15 May 2020, the Government decided to establish a new €250m Restart Grant providing 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 is being administered by the local authorities. The online Application Form and Frequently Asked Questions went live from Friday 22 May 2020.
Eligible businesses who have stayed open throughout the crisis, as well as those who are reopening under Phase 1 (from 18 May) and Phase 2 (8 June) of the Government’s Roadmap for Reopening Society and Business, are encouraged to apply first for the Restart Grant. These applications will be prioritised for payment by the local authorities.
To avail of the Restart Grant, applicants must be a commercial business, be in the Local Authorities Commercial Rates Payment System, and:
1. have an annual turnover of less than €5m and employ 50 people or less;
2. have suffered a projected 25%+ loss in turnover between 1 April and end June 2020;
3. commit to remain open or to reopen if it was closed; and,
4. declare the intention to retain employees that are on The Temporary Wage Subsidy Scheme.
The grant will be the amount of the rates demand in respect of calendar year 2019 only, subject to a minimum of €2,000 and a maximum of €10,000.
The Restart Grant support is just one part of the wider €12bn package of supports for firms of all sizes, which includes the wage subsidy scheme, grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst SMEs.
This package is a significant step-up in the supports available for all businesses in all sectors at this very difficult time. The measures have been developed to meet the varying needs of Irish enterprise and they are very specifically targeted by size, sector and need and are targeted at vulnerable but viable companies.
The unprecedented circumstances of the COVID19 global pandemic has resulted in a swiftly evolving landscape for enterprises. The Government will continue to use all available tools at its disposal to support businesses and ensure their survival. In that context, I will keep the supports provided under review and continue to support enterprises as they work through the challenges facing them.
