On Friday, 15th May, 2020, the Government decided to establish a new a new €250m Restart Grant providing direct grant aid to micro and small businesses to help them with the costs associated with reopening and re-employing workers following COVID-19 closures.
The grant is being administered by the local authorities and the online Application Form went live on Friday May 22nd, 2020.
To avail of the Restart Grant, applicants must be a commercial business and 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;
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. Those businesses with outstanding tax arrears or rates bills are also eligible to make an application if they meet the criteria as set out above.
The Restart Grant support is just one part of the wider €12bn package of supports for firms of all sizes, which includes grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst SMEs.
Full details on all COVID19 supports for business are available at: https://dbei.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/