A Guide to the Restart Business Grant
The purpose of this grant is to help small businesses recover from the financial downfall caused by Covid-19 closures.
The grants will be equivalent to the rates bill⃰ of the business in 2019, with a minimum payment of €2,000 and a maximum payment of €10,000.
Any business that has had to close or had reduced profits (reduced turnover of at least 25% up to 30/06/2020) as a result of Covid-19 is encouraged to apply for this grant. To be considered a ‘small business’, there must be less than 50 employed and a turnover of less than €5 million.
What types of business can apply?
- Any business that has a commercially rateable premises can apply.
- International 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.
- Businesses such as office-based professional services that have continued to operate, including remotely, during the crisis, are not eligible.
- Non-commercial organisations such as community and sporting premises are not eligible.
- Businesses that do not operate from rateable premises (tradesmen, service providers, etc) are not eligible.
The grant is to help businesses re-open and to help re-hire employees that may have been made redundant as a result of Covid-19. It is also to help employers pay current employees that may have been dependant on the Wage Subsidy Scheme during the pandemic.
Scheme opens for applications on Friday 22 May through City and County Council and all other Local Authorities.
Once the grant is applied for, a response can expected within 2 weeks. If eligible, it is expected that the grant will be paid via electric bank transfer.
More information in relation to the scheme will be available from Friday 22 May 2020 when the application form goes live.
⃰Even if the rates are in arrears, the business may still be eligible for the grant
Accounting Pro is Ireland’s premier contractor accounting service. We are here to help the busy contractor and company, with all your accounting and payroll needs. We are both an umbrella company and umbrella corporation and we can create your limited company. We are experts in contractor pensions, contractor health insurance, illness and sick benefit for the self employed and contractor expenses. To learn more about what we do please review https://accounting-pro.ie/ and contact us by email: email@example.com or phone us 01 592 1802. For the UK see Accounting-Pro UK. “A Guide to the Restart Business Grant” is an article written by Accounting-Pro Ireland for the benefit of everyone. Feel free to share it but please give attribution on a CC BY-SA license.