Next Phase of Small Business Assistance Scheme launched
Last Thursday, the Department of Enterprise opened the next phase of the so-called Small Business Assistance Scheme for COVID (SBASC) for applications from both SMEs and microenterprises. Businesses that received the grant in the first round can receive a second grant provided they are still eligible.
Small businesses with turnover above €50,000 can apply for a grant of €4,000 and microenterprises with a turnover of between €20,000 and €49,999 can apply for €1,000 via a new streamlined application process through their Local Authority or Local Enterprise Office.
Following on from a recent Government decision, businesses operating from non-rateable premises, such as a home office or hot desk are also eligible to apply. Closing date for Phase 2 applications is the 21 of July.
The eligibility criteria are as follows:
- the scheme is available for businesses that do not qualify for CRSS, MEBAS, Fáilte Ireland Schemes or other sector schemes designed to assist with fixed costs.
- the scheme is available to companies, self-employed, sole traders or partnerships.
- the business is not owned and operated by a public body.
- the business is not eligible or availed of CRSS, Fáilte Ireland Business Continuity Scheme, MEBAS or other sectoral schemes. The details of these schemes are set out on the application form and FAQs.
- the business operates from a building, including working from home, or similar fixed physical structure such as a yard or a street trading pitch for which rates are payable or in a co-working hub or a rented fixed desk. This does not include businesses carried on from motor vehicles, such as PSVs or construction trades.
Business turnover criteria
- the projected average weekly turnover of the business over the claim period 1 April to 30 June 2021 is estimated to be no more than 25% of the:
- average weekly turnover of the business in 2019 or
- the projected average weekly turnover of the business in 2020, for businesses that commenced after 1 November 2019, and the financial statements as of end of 2019 should be uploaded with the application.
- the business intends to resume trading in full once Government COVID-19 restrictions are eased.
To apply, go to the website of the local authority in your area.