Dáil Éireann Debate, Thursday - 11 March 2021
2. Deputy Danny Healy-Rae asked the Tánaiste and Minister for Enterprise, Trade and Employment if matters in relation to funding for businesses (details supplied) will be examined; and if he will make a statement on the matter. [13649/21]
View answerI am acutely aware of the difficulties that the necessary ongoing Covid-19 restrictions are putting on businesses right across the country. With this in mind the Government has put in place a comprehensive package to help businesses and workers during the pandemic, including the Employment Wage Subsidy Scheme (EWSS), the Pandemic Unemployment Payment (PUP), the COVID-19 Restrictions Support Scheme (CRSS), low-cost loans, the deferral and warehousing of tax liabilities and the waiver of commercial rates.
Budget 2021 provided a significant package of tax and expenditure measures to build the resilience of the economy and to help vulnerable but viable businesses across all sectors. Details of the wide range of supports available are on my Department’s website.
I am committed to helping businesses respond to the economic challenges arising from the pandemic with a particular focus on firms that do not qualify for the weekly CRSS grant from the Revenue Commissioners or existing sectoral schemes in areas such as the arts, transport and tourism.
Today (11th March) I announced that applications are now open for Phase 1 of the Small Business Assistance Scheme (SBASC). This is a new €60m business assistance scheme. The aim of this scheme is to provide grants to businesses ineligible for the Government’s other existing schemes such as CRSS and is designed to help with fixed costs. Wholesalers, suppliers, caterers down 75% or more in turnover and in receipt of a rates bill may benefit, including those that commenced after the 1st November 2019 where their turnover is below projections.
Businesses, will, however, be required to be in receipt of a rates bill from their local authority for their business in order to qualify. The intention behind this provision is to assist businesses operating from fixed premises to meet some of the ongoing fixed costs of maintaining those premises.
In relation to the eligibility requirement of €50,000 turnover. It is important to remember that this scheme has been introduced to meet the unavoidable costs that businesses operating from a fixed premises incur whether they are open or not. Analysis carried out for similar schemes has shown us that where annual turnover is less than €50,000, then it is likely that most costs will be payroll based. As you know, Government already provides subsidies or other income supports in the form of the EWSS and the PUP.
While there will undoubtedly be exceptions, it is probable that at these lower levels of turnover, the ongoing costs will generally not impact on the business’s potential to re-open as and when restrictions ease.
I would urge business owners to seek the supports outlined above if they have not already done so. I would also suggest they contact their Local Enterprise Office who can signpost them and advise them of supports that may be available for their business.
Further details of the Small Business Assistance Scheme for COVID are available on my Department's website www.enterprise.gov.ie
