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Covid-19 Pandemic Supports

Dáil Éireann Debate, Tuesday - 21 July 2020

Tuesday, 21 July 2020

Ceisteanna (61)

Pauline Tully

Ceist:

61. Deputy Pauline Tully asked the Tánaiste and Minister for Business, Enterprise and Innovation the reason businesses that do not operate from commercially rateable premises such as tradesmen, service providers and so on are not eligible for the restart grant for small and microbusinesses affected by Covid-19; the grounds this decision is based on; the financial supports which will be provided to these business; and if he will make a statement on the matter. [16657/20]

Amharc ar fhreagra

Freagraí scríofa

The Restart Grant was launched on 22 May 2020 and is a critically important tool to support small businesses to reopen their doors and get back on their feet. The scheme was devised in recognition of the fact that micro and small businesses were and are particularly vulnerable to the economic effects of COVID19.

The Restart Grant is just one part of a wider assistance package for business and for firms of all sizes, which includes the wage subsidy scheme, the pandemic unemployment payment for the self-employed, grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst SMEs. The reason the scheme was linked to rate-paying businesses was that it was clear from the rate-payer databases within local authorities that this would make it possible to assist a very large number of small and micro-enterprises within a short period of time and with a minimum of bureaucracy.

We will be bringing forward an ambitious July Stimulus package in the coming days, which will include a range of measures to help SMEs across the range of sizes and sectors.

Currently, any business (Sole Trader, Partnership or Limited Company) with less than 10 full time employees and annual turnover of up to €2m may apply to Microfinance Ireland for funding from €5,000 – €50,000 where the business is not in a position to avail of finance from Banks and other commercial lending providers. The loan incurs 0% interest for the first six months and Zero repayments. Thereafter a reduced interest rate of 4.5% APR applies to loans applied for through the Local Enterprise Office.

All COVID19 Business Schemes are under constant review in terms of the evolving situation and will be adapted as circumstances dictate, including adaptations to the phased opening of our economy. In that regard, I can assure the Deputy that I will continue to work with my colleagues across Government and all stakeholders to examine how best to further assist businesses impacted by Covid-19 as part of the forthcoming Jobs Recovery Plan.

Full details on all COVID19 measures for business are available at: https://dbei.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/.

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