28 Sep 2020 | 12.46 pm
Restart Grant Plus Deadline Is September 30
Improved rates rebate for businesses hit by Covid-19
28 Sep 2020 | 12.46 pm
Applications are now being taken for the government’s Restart Grant Plus scheme, which provides financial support to help businesses reopen after the Covid lockdown.
The revamped scheme will provide eligible SMEs with grants of between €4,000 and €25,000 to reopen and adapt to the Covid-19 environment.
The closing date for receipt of applications is 30 September 2020.
The Small Firms Association has urged enterprise minister Leo Varadkar to extend the application deadline to October 31.
Director Sven Spollen-Behrens said that 47,510 firms had submitted applications for Restart Grant Plus as of Sept.18.
The key changes to the new Restart Grant Plus scheme (also known as Restart Plus Grant) include:
- €300m additional funding in addition to €250m previously committed
- An increase in the grant allocations, which were previously between €2,000 and €10,000. The minimum grant is now €4,000 and maximum is €25,000.
- Companies with up to 250 employees can now apply (previously the grant was for companies with fewer than 50 employees)
- Non-rateable B&Bs, sports clubs with commercial activities and trading charity shops are now eligible.
Businesses that received a grant under the first scheme can re-apply to local authorities to receive additional funding – see sample details below from Dublin City Council.
Applications to Fáilte Ireland, who will administer the funding to non-rate paying B&Bs will open over the coming weeks.
To qualify for a grant, the important criteria are:
- A business must be commercial and in the local authority rates system (apart from non-rateable B&Bs who can apply to Fáilte Ireland)
- It must have suffered a 25% loss of expected turnover between 1 April and 30 June 2020
- It must have fewer than 250 employees and turnover less than €25m
- It must declare its intention to re-employ staff in receipt of the Temporary Wage Subsidy Scheme.
Grants will be based on the amount of the rates assessment for the premises for 2019 (excluding arrears). The new scheme also sees the upper turnover limit for eligible businesses extended from €5m to €25m. There is a cap of €100,000 turnover per employee.
The hospitality sector, restaurants, pubs, activity centres and tourist attractions such as galleries and museums are eligible if they are operating from a rated premise.
Multinationals are not eligible. Small Irish-based subsidiaries with overseas parent companies are also not eligible. Large chains that are part of a large group company, i.e. one legal entity with a number of branches, such as fast food, group and multiple supermarkets, group hotels, group betting shops and group pharmacies are not eligible.