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

Small Business Assistance Scheme for COVID (SBASC)

The Small Business Assistance Scheme for COVID is for businesses which are not eligible for CRSS or other sector specific grants, that are down 75% or more of turnover. The scheme is in addition to other government supports such as 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.  

The extension of the SBASC to businesses is to assist fixed costs such as utilities, maintenance of equipment, security, IT systems fees, storage, and, legal and accountancy costs required to provide a safe working environment. Businesses will be asked to declare that they intend to resume trading in full once government COVID-19 restrictions are eased.  

Further details in relation to the go-live date are said to 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. 

For additional information visit gov.ie 

Gallagher Keane Chartered Accountants

Our clients range from SMEs to large multi-national companies, and we know this is a challenging time for many, but we are here to help and support you. If you think we can be of assistance, please  get in touch. Gallagher Keane offer tailored solutions to all of our clients, helping them reach their full business potential.