Eligibility for small business assistance scheme extended

Supports are for businesses that are down 75% of turnover due to Covid-19 pandemic

Minister for Enterprise Leo Varadkar. Photograph: Dara Mac Dónaill / The Irish Times

Minister for Enterprise Leo Varadkar. Photograph: Dara Mac Dónaill / The Irish Times

 

Eligibility for the State’s €60 million Small Business Assistance Scheme (SBASC) has been extended to include businesses operating from a non-rateable premise like a home business or yard, the Government announced on Tuesday.

The SBASC is for businesses which are not eligible for Covid Restrictions Support Scheme or other sector specific grants, and that are down 75 per cent or more of turnover due to the Covid-19 pandemic.

The Micro Enterprise Assistance Scheme, which offers businesses with turnovers of less than €50,000 the opportunity to apply for a grant of €1000 to help with fixed costs, is also being relaunched.

On the SBASC, Minister for Enterprise Leo Varadkar said those who are self-employed and working from a non-rateable premises, such as their own home for example, can apply for a €4,000 payment to help with fixed costs.

“We have tried through various Government schemes to help as many businesses as possible with their fixed costs,” he said. “By extending eligibility, we hope to catch those who have not qualified under our existing schemes, mainly because they don’t operate from a rateable premises.

“While the grant is modest, it will make a big difference to those businesses. It is designed to help with energy bills, security, IT systems fees, legal and accounting fees or any other fixed costs that may incur as part of running a business.”