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Local Enterprise Offices

Dáil Éireann Debate, Tuesday - 23 June 2020

Tuesday, 23 June 2020

Questions (362)

Willie O'Dea

Question:

362. Deputy Willie O'Dea asked the Minister for Business, Enterprise and Innovation if sufficient funding is in place to pay out grants to applications to each local enterprise office for the business community vouchers and if she will make a statement on the matter. [11736/20]

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Written answers

As the Deputy will be aware the Business Continuity Voucher scheme was launched on 26th March last as part of the suite of Covid 19 business supports. 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.

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 remaining 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 re-employing workers following COVID-19 closures.

The Business Continuity Voucher Scheme was a resounding success in terms of uptake, the product of it being an appropriate support for that point in time. The LEOs will continue to work with existing applicants and recipients of BCV vouchers and their subsequent business continuity plans. The awarding and processing of vouchers under the BCV scheme will naturally taper off in the coming weeks as the Local Enterprise Offices process the outstanding applications.

The payment of the Business Continuity Voucher is dependent on the project being finished, invoice and project report submitted to LEO, with the LEO subsequently completing due diligence checks and processing by Local Authority Finance Units.

Clearly the level of demand both for the scheme and the consequent budget drawdown has been unprecedented, with approvals to date to the value of €20.6m representing a substantial portion of the existing LEO budget for 2020. This is a continually evolving situation and my Department is continually reviewing take-up of schemes and the need for reallocations or additional budgets.

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