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New Government Supports For SME’s Bring Much Needed Relief For Irish Businesses

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There is no doubt about it, times are tough, particularly for SME’s, however the recent announcement of a new grant scheme is welcome news and we hope will help the many SMEs suffering due to the impact of Covid-19 and the resulting economic downturn.

The Restart Grant Plus scheme, which is part of the July Stimulus from the Government, aims to help SMEs adapt and re-open following Covid-19 restrictions. SMEs in Ireland can now apply for restart grants from €400 to €25,000.

To qualify for the scheme, enterprises must have:

  • 250 employees or less;
  • Turnover of less than €100,000 per employee; and
  • Reduced turnover by 25% as a result of COVID-19

Under the scheme, support will also be provided for enterprises that could not access the original grant scheme. There is also increased eligibility for non-rateable B&Bs, sports clubs with commercial activities and trading charity shops.

Some of the other criteria for qualifying for the scheme state that businesses must be commercial and in the local authority rates system, and have suffered a 25pc loss of expected turnover between 1 April and 30 June 2020. Businesses must also commit to reopening and to hiring and sustaining employment.

Interested businesses can apply through their local authorities. If you are unsure if you qualify or want further advice or guidance on the scheme, please give us a call on: 01 663 2000.

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