Dáil Éireann Debate, Tuesday - 9 June 2020
279. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation the position in relation to the business continuity voucher scheme; if the scheme is still open for applications; the number of vouchers that have been issued to applicants; the overall value of same; and if she will make a statement on the matter. [9824/20]
View answerThe Business Continuity Voucher scheme was launched on 26th March. The purpose of the scheme was to provide expert guidance and advice to SMEs employing up 50 people and enable business owners make informed decisions about what immediate measures and remedial actions could be taken at the outset of this crisis, to protect staff and sales and eventually help the business recover.
The scheme was a resounding success in terms of uptake due to it being an appropriate response and support to recognised business needs for that point in time. The Business Continuity Voucher provided up to €2,500 in consultancy costs, to develop short and long-term strategies to respond to the initial pandemic and to plan for the eventual recovery and reopening of the economy.
As the reopening of the economy proceeds, more and more businesses are transitioning from the planning to the implementation phase as we progress through the 5 stages of the Government Roadmap. It is in this context that the Business Continuity Voucher is being phased out and is now closed to new applicants. In recognition of this new stage the new €250m Restart Grant was introduced to assist micro and small businesses to help them with the costs associated with reopening and reemploying workers following COVID-19 closures.
The LEOs will continue to work with existing applicants and recipients of Business Continuity Voucher vouchers and their subsequent business continuity plans. The awarding of vouchers under the Business Continuity Voucher scheme will naturally taper off in the coming weeks as the Local Enterprise Offices process the outstanding applications. The Local Enterprise Offices have thus far approved over 8,200 Business Continuity Vouchers with an overall value thus far of €18.9m and had received over 14,000 applications prior to the closing date.
The Restart Grant is available to businesses with a turnover of less than €5m employing up to 50 people, which were closed or impacted by at least a 25% projected reduction in turnover to the end of June 2020. The grants will be equivalent to the rates bill of the business in 2019, or a minimum grant of €2,000, with a maximum grant of €10,000.
