The Government has created a Restart Fund of €250 million for micro and small enterprises. The purpose of this fund is to assist businesses with reconnecting with the market, their employees and their customers.
- The scheme provides direct grant aid of between €2,000 and €10,000, based on the commercial rate bill for 2019.
- It is aimed at helping micro and small businesses with the costs associated with reopening and reemploying workers following COVID-19 closures.
- The scheme applies to small businesses with a turnover of under €5m and employing 50 people or fewer.
- The business must have suffered a projected 25%+ loss in revenue from 1st April 2020 to 30th June 2020.
- The business must commit to remaining open or to reopen if it was closed. The business must also declare the intention to retain employees that are benefiting from the Temporary Wage Subsidy Scheme (TWSS).
- Businesses should retain supporting documentation, as spot-checks may be carried out to verify a declaration to this effect.
- The closing date for receipt of applications is 31 August.
To apply for the grant contact the council to which you pay your rates bill. The Dublin councils can be found at the following links:
Dublin City Council
Fingal County Council
South Dublin County Council
Dun Laoghaire-Rathdown County Council
Commercial rates waiver:
On a related note, there will be a three-month commercial rates waiver for 2020 for businesses affected by COVID-19 – details are expected shortly and will be posted here.
If you would like to discuss your financing options, please contact us.