A €250m Restart Grant fund for small businesses, which was announced by Government at the beginning of this month, will go live from this Friday May 22nd.
All eligible business are being asked to apply online through your local authority from this date.
Given the expected large volume of applications it is expected businesses which are due to reopen in the earlier phases of the Roadmap for Reopening Ireland will have their applications processed first.
The grant will give direct aid to micro and small businesses to help them with the costs associated with reopening and reemploying workers following COVID-19 closures.
For example, the grant can be used for ongoing fixed costs, for replenishing stock and for measures needed to ensure employee and customer safety.
The amount you can receive from the grant will be equivalent to the rates bill of your business in 2019, with a minimum payment of €2,000 and a maximum payment of €10,000.
Here are the criteria your business must meet in order to avail to the Restart Grant:
- Your business must be in the Local Authorities Commercial Rates Payment System
- You have an annual turnover of less than €5m
- You employ between 1 to 50 people
- Your business has closed and/or suffered a projected 25%+ loss in turnover to end June 2020
- You must commit to remain open or to reopen your business if it was closed due to the COVID-19 crisis
- You need to declare the intention to retain employees that are on The Temporary Wage Subsidy Scheme (TWSS) and to reemploy staff on the Pandemic Unemployment Payment where applicable