Dáil Éireann Debate, Tuesday - 21 July 2020
71. Deputy Louise O'Reilly asked the Tánaiste and Minister for Business, Enterprise and Innovation his views on whether injections of liquidity through grants are an integral part of the recovery from Covid-19 for microbusinesses, SMEs and family businesses; and if his attention has been drawn to the fact that many such businesses are afraid to take on new debt through loans. [17148/20]
Amharc ar fhreagraAs stated in the Programme for Government, we are bringing forward a Jobs Stimulus shortly to boost our economy and help restore employment. This July Stimulus will extend, enhance and add to the existing measures for COVID-19 impacted businesses already announced.
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. Grant payments available range from a minimum of €2,000 up to €10,000 available. The scheme was devised in recognition of the fact that micro and small businesses were and are particularly vulnerable to the economic effects of COVID-19.
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 July Stimulus Package will help all firms with costs incurred during lockdown and in re-opening. All COVID-19 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.
I look forward to announcing the details of the July Stimulus Package with the Taoiseach shortly.
