Sponsoring Agency: Department of Enterprise Trade & Employment
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/21/2021
Size of the Fund: Less than USD $50,000
The Department of Enterprise Trade & Employment has recently launched the Small Business Assistance Scheme for COVID (SBASC) which is intended to target those businesses with operating costs that do not qualify for the COVID Restrictions Support Scheme (CRSS) operated by the Revenue Commissioners.
The main difference between SBASC and CRSS is the requirement, in the case of CRSS, for the public to have access to a business premises. SBASC also aligns with recently announced grant schemes for the tourism, arts and entertainment sectors.
The grant, which is available as a contribution towards fixed costs to assist a business to keep operational for an eventual re-opening, is only available to an applicant operating from a rateable property. The scheme covers the period 1 January 2021 to 30 June 2021.
The grant is a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers. The grant could be used to defray ongoing fixed costs, e.g. utilities, insurance, refurbishment or for measures to ensure employee and customer safety.
Eligible businesses will receive a payment of €4,000 for the first quarter of this year, the period from 1 January to 31 March 2021. It is anticipated that payments to eligible businesses for the first quarter will be made from April 2021. There will be a second payment in Q2, 2021 of €4,000 for businesses continuing to meet the criteria.
A business must:
• Be a sole trader, a company, self-employed, or a partnership;
• Have a minimum turnover of €50,000 for each rateable premise;
• Not be owned or operated by a public body;
• Not eligible for/be in receipt of CRSS for the period for which the grant covers or eligible for Fáilte Ireland’s Business Continuity Scheme or the Live Performance Support Scheme of the Department or the Music Entertainment Business Assistance Scheme of Tourism, Culture, Arts, Gaeltacht, Sport and Media.
• Operate from a building, or similar fixed physical structure on which business rates are payable (mobile premises, or premises which are not permanently fixed in place, do not meet the definition of business premises nor do premises on which no rates are payable);
• Must have a current eTax Clearance Certificate from the Revenue Commissioners.
• The turnover of the business over the claim period is estimated to be no more than 25% of the
• Average weekly turnover of the business in 2019; or
• The projected average weekly turnover of the business for 1st January to 31st March 2021, and 30th of June 2021 where applicable, for businesses that commenced after 1st November, 2019 and
• The business intends to resume trading in full once Government restrictions are eased.
• Have 1 – 250 employees and a projected turnover of less than €25 million in 2021;
• In relation to the verification of the €50,000 turnover requirement, applicants will be required to upload their most recent financial or trading accounts or the relevant section of their most recent Revenue income tax Form 11, which verifies turnover in excess of €50,000.
• The DETE will arrange to carry out spot-checks to ensure compliance with the qualifying criteria.
More information at: https://www.sligococo.ie/SBASC/