The government has announced details of the new €250 million Restart Grant, which will give direct grant aid to micro and small businesses to help them with the costs associated with reopening and reemploying workers following COVID-19 closures. The Grant Programme is devised as a contribution towards the cost of re-opening or keeping a business operational, and reconnecting with employees and customers.
Cathaoirleach Michael Murphy said that “this is good news for over 4,000 small businesses in the county who can now access this grant to help defray ongoing fixed costs, e.g. utilities, insurance, refurbishment or for measures to ensure employee and customer safety. Micro and small businesses are particularly vulnerable to the economic effects of COVID-19. Many businesses, even while closed, continue to incur costs including fixed costs without being able to generate revenues. It is recognised that businesses will also incur costs in preparing their businesses to reopen and meeting the needs of employees and customers. The Restart Grant is designed to alleviate the pressure on businesses in this context”
The grant will be the amount of a business’ rates assessment for 2019 (excluding arrears), subject to a minimum of €2,000 and a maximum of €10,000 (i.e. businesses who paide less than €2,000 are eligible to claim €2,000. The scheme applies to small businesses with a turnover of under €5 million and employing 50 people or less, which were closed or impacted by at least a 25% reduction in turnover out to 30 June 2020.
The grant is intended as a contribution towards the cost of reopening or keeping a business operational and re-connecting with employees and customers, therefore businesses must commit to remain open or to reopen if it was closed and declare their intention to retaining employees that are on the Temporary Wage Subsidy Scheme (TWSS).