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Small Business Assistance Scheme – Eligibility Extended

Eligibility extended for the €60m Small Business Assistance Scheme for COVID (SBASC) to include businesses operating from a non-rateable premise like a home business or yard. Plus the Micro Enterprise Assistance Scheme has been relaunched.

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Tánaiste extends eligibility of Small Business Assistance Scheme for COVID (SBASC)
Source: From Department of Enterprise, Trade and Employment / 18 May 2021

  • Businesses operating from a non-rateable premises such as a home office or hot-desk now eligible for help with fixed costs
  • Self-employed working from home, wedding planners, on-course bookmakers, travel counsellors and photographers among those expected to benefit
  • Micro Enterprise Assistance Scheme also reopened to help smallest businesses

The Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD today extended eligibility for the €60m Small Business Assistance Scheme for COVID (SBASC) to include businesses operating from a non-rateable premise like a home business or yard. The Tánaiste is also relaunching the Micro Enterprise Assistance Scheme so that our smallest businesses, those with a turnover of less than €50,000 can apply for a grant of €1000 to help with fixed costs.

The Small Business Assistance Scheme for COVID (SBASC) is for businesses which are not eligible for CRSS or other sector specific grants, that are down 75% or more of turnover.

Further details, including the go-live date for Q2, will be announced shortly. Those who applied under Phase 1 are still eligible to apply for a second payment of €4,000 if they continue to meet the criteria. Interested businesses should contact their local authority. Closing date for Phase 2 applications will be 21 July.

The Micro Enterprise Assistance Scheme is for companies facing particular hardship and that do not qualify for other government schemes. It will provide a grant of up to €1,000 to businesses with previous turnover of less than €50,000 that meet the other criteria for SBASC.

This scheme is in addition to the comprehensive package the government has put in place to help businesses and workers during the pandemic, including the Employment Wage Subsidy Scheme (EWSS), the Pandemic Unemployment Payment (PUP), the Covid Restrictions Support Scheme (CRSS), low-cost loans, the deferral and warehousing of tax liabilities and the waiver of commercial rates.

Notes
The Small Business Assistance Scheme for COVID (SBASC) is for businesses that are down 75% or more of turnover and are not eligible for CRSS or other sector specific grants.

The extension of eligibility for the SBASC to businesses operating from non-rateable premises will assist in defraying ongoing fixed costs. Such costs can include utilities, maintenance of equipment and mobile business, security, IT systems fees, storage, legal and accountancy and costs required to provide a safe working environment.

Business will be asked to declare that they intend to resume trading in full once government COVID-19 restrictions are eased.

Further details, including the go-live date for Phase 2, will be announced shortly. Those who applied under Phase 1 are still eligible to apply for a second payment of €4,000 if they continue to meet the criteria. Interested businesses should contact their Local Authority.

Closing date for Phase 2 applications will be 21 July.

Additionally, the Micro Enterprise Assistance Scheme will be relaunched through the Local Enterprise Offices (LEOs) to help businesses, whose turnover is below €50,000, with fixed costs. The Scheme will provide assistance of up to €1,000 to businesses who meet the criteria and will be funded by up to €5m as part of the SBASC allocation.

 

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