Dáil Éireann Debate, Wednesday - 21 April 2021
199. Deputy Aindrias Moynihan asked the Tánaiste and Minister for Enterprise, Trade and Employment his plans for SMEs whose turnover is under €50,000; if funding aid will be provided for them during Covid-19 restrictions given that they cannot avail of same and do not meet the criteria for funding schemes currently in place; and if he will make a statement on the matter. [20164/21]
View answerAs you are aware, 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.
You will also know that 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.
In relation to the eligibility requirement of €50,000 turnover, it is important to remember that the Small Business Assistance Scheme for COVID 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 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.
It is important to note that the schemes are there to help meet fixed costs that cannot be avoided and to provide basic weekly income support up to maximum of €350 per week. They are not created to provide compensation for loss of personal income above this level or compensation for loss of profits for any sector.
I would urge business owners to seek the supports available. 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.
I want to assure you, however, the Government is consulting with business sectors and I am aware of their concerns and I and my colleagues across Government are continuing to keep the range of measures under review.
