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New Government Supports to help businesses as they plan to reopen
Government announces new supports to assist businesses as the plan to reopen the economy takes effect
- a restart grant, which will take the form of a waiver/rebate of commercial rates of up to €10k from 2019, for micro and small businesses. It is envisaged that businesses would use this grant to upgrade their premises to meet social distancing requirements
- a three-month commercial rates waiver for impacted businesses forced to shut during the lockdown
- the ‘warehousing’ of tax liabilities for a period of twelve months after recommencement of trading during which time there will be no debt enforcement action taken by Revenue. More details on this can be found here
- a €2 billion Pandemic Stabilisation and Recovery Fund within the Ireland Strategic Investment Fund (ISIF), which will make capital available to medium and large enterprises through State investment in the company.
- a €2 billion COVID-19 Credit Guarantee Scheme to support lending to SMEs for terms ranging from 3 months to 6 years, which will be below market interest rates
Date published 5 May 2020 | Last updated 2 May 2024
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