As 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.
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.
It is important to note that I along with my Government colleagues are continuing to keep government business schemes under review.