During these difficult times, to restart your business, the government has introduced a Restart Grant for micro and small businesses to help them with the costs associated with reopening and reemploying workers following Covid-19 closures.
Your business could receive a minimum payment of €2,000 and up to a maximum payment of €10,000, depending to the rates bill of the business in 2019.
What types of business can apply?
Any business that has a commercially rate-able premises, or where rates are paid on your behalf and attributable to the business premises you occupy, can apply. Multiple chain stores, i.e. a business that is a non-financially independent branch of a group of chain stores which is owned and managed by a single entity, are not eligible. Non-commercial organisations such as community and sporting premises (including charity shops and community and sporting premises with a bar) are not eligible. Businesses that do not operate from commercially rate-able premises (tradesmen, service providers, etc) are not eligible. Premises that were vacant prior to the Covid-19 emergency are not eligible for the grant.
Criteria for qualifying for the grant:
To qualify for this scheme, a business must have a turnover of less than €5m and have 50 or less employees. The business must have suffered a projected 25%+ loss in revenue from 1st April 2020 to 30th June 2020. The business must commit to remain open or to reopen if it was closed. The business must also declare the intention to retain employees that are benefiting from the Temporary Wage Subsidy Scheme (TWSS). Businesses should retain supporting documentation as spot-checks may be carried out to verify a declaration to this effect.
Where to Apply:
The application form for the Restart Grant is available on your local authority website and you can access your local authority form by clicking on the following link.
If you have any queries in relation to the above, we at Reardons Chartered Accountants, are here to assist.