Updated March 31st 2020
Cork Chamber are monitoring the unfolding situation around COVID-19. The Departments of Business, Enterprise and Innovation – Employment Affairs and Social Protection – Health – and Housing have put a range of supports in place and we encourage our members to access available supports to help navigate these uncertain times. Today we have updated the FAQs on the Wage Subsidy Scheme. Other recent updates include the link to the list of Essential Service Providers. See also updates from last week on Business Continuity Vouchers from the Cork LEO offices, Illness Benefit and to Covid-19 Pandemic Unemployment Payment. The Chamber team is here to help guide you on how to access these supports and we welcome any enquires you may have 021 450 9044.
HR AND EMPLOYEE SUPPORTS
TEMPORARY COVID-19 WAGE SUBSIDY SCHEME
- The Employer Refund Scheme has been replaced by a new and enhanced Temporary COVID-19 Wage Subsidy Scheme for employers.
- Employers who have already signed up for the refund scheme announced do not need to reapply. Revenue will make contact to confirm that they meet the conditions for this new scheme.
- The scheme, enables employees to receive significant supports directly from their employer. The scheme is expected to last 12 weeks from 26 March 2020. Draft legislation governing the scheme will be published shortly.
- To qualify for the scheme, employers must:
* be experiencing significant negative economic disruption due to Covid-19
* be able to demonstrate, to the satisfaction of Revenue, a minimum of a 25% decline in turnover
* be unable to pay normal wages and normal outgoings fully
* retain their employees on the payroll. - An eligible employer will be supported by up to 70% of an employee’s take home income up to a maximum weekly tax free payment of €410 (i.e. 70% of take home weekly income of €38,000 per annum).
- The scheme will provide support on incomes up to €76,000 or twice average earnings. It will be capped at net €350 for incomes between €38,000 and €76,000.
- You can read more detail from Government here.
The approach to this refund scheme has been agreed, and will be managed by Revenue Online Service myEnquiries. Select ‘Employer’s PAYE’ then ‘Employer’s PAYE General Enquiry’ when submitting the query through myEnquiries.
SHORT TIME WORK SUPPORT
Short-time Work Support is available under Jobseeker’s Benefit and is an income support payment for employees who have been temporarily placed on a shorter working week, due to business challenges affecting their employment.
ILLNESS BENEFIT
The Government has announced that the rules for Illness Benefit and Supplementary Welfare Allowance will be changed to help prevent the transmission of coronavirus. The personal rate of Illness Benefit will increase further from €305 to €350 per week, and you will not have to wait 6 days before you can apply for Illness Benefit.
INTREO / SOCIAL WELFARE
Where employers cannot avail of the Temporary Wage Subsidy Scheme and their employees have been temporarily laid off, employees can apply for the Covid-19 Pandemic Unemployment Payment from the Department of Employment Affairs and Social Protection. This payment is increased to for €350 per week as of March 27th and is available to all individuals who are temporarily fully unemployed, including the self-employed.
The quickest and easiest way to apply for the Covid-19 unemployment payment is via MyWelfare.ie. To apply online for this payment the claimant’s e-mail address is required in order to set up a basic MyGovID account. The information and 1-page application form can be downloaded here and circulated to employees.
This payment will also apply to the self-employed affected by the virus.
Due to the current situation employees with dependants who are accessing the Covid 19 Emergency Payment are also advised to make a Job Seeker application at this time. Download form here.
Local Welfare Contact Details for Employers
Employers can contact employercork@welfare.ie
Local Welfare Contact Details for Employees
Employees with addresses in the Northside of Cork City can email 2020hanoverst@welfare.ie
Employees with addresses in the Southside (including Ballincollig) can email 2020ach@welfare.ie
Employees in the county can email 2020corkcounty@welfare.ie
Employees who may need to access other income supports outside of the jobseeker payment can email cork@swa2020@welfare.ie
FINANCIAL SUPPORTS FOR YOUR BUSINESS
SCBI LOANS
A €200m Strategic Banking Corporation of Ireland (SBCI) Working Capital scheme for eligible businesses impacted by COVID-19. Loans of up to €1.5m will be available at reduced rates, with up to the first €500,000 unsecured. Terms and conditions for this scheme are currently being finalised and if you wish to stay informed on updates directly from the the SBCI email here.
The COVID-19 Business Loan from Microfinance Ireland is a government initiative to support small businesses. If your business is impacted or may be impacted by COVID-19 resulting in a reduction of 15% or more in actual or projected turnover or profit, AND you are having difficulty in accessing finance from commercial lending providers, the MFI COVID-19 Business Loan may be able to help your business. Loans are from €5k – €50k, and include an option for a moratorium on interest and repayments for the first six months.
CREDIT GUARANTEE SCHEME
The Credit Guarantee Scheme is in place and available now to SMEs subject to the relevant terms and conditions. The Scheme aims to assist viable SMEs, which under normal lending criteria are unable to borrow from their bank, in accessing credit. To avail of the scheme, contact your local AIB, Bank of Ireland and Ulster Bank.
he Business Continuity Voucher is now available from your Local Enterprise Office.
To the value of €2500, to be used in third party consultancy costs to develop short-term and long-term strategies to respond to the Covid-19 pandemic
Apply through your Cork LEO site
OTHER SUPPORTS TO CONSIDER
Commercial Rates: It has been announced by Government that Councils will be deferring rates payments for three months.
Enterprise Ireland. €200m Package for Enterprise Supports including a Rescue and Restructuring Scheme is available through Enterprise Ireland: https://enterprise-ireland.com/en/about-us/services/covid-19/
DBEI. The Department of Business, Enterprise and Innovation have set up a Business Support Call Centre to give you more information on supports available: 01 631 2002 or email infobusinesssupport@dbei.gov.ie
Revenue. Revenue has announced measures for SMEs experiencing cashflow difficulties: Click here
Insurance. Review your insurance policy to find out if your policy includes cover for an interruption in your business, or a temporary business closure, caused by COVID-19.
Your local bank. The primary pillar banks announced that they will support businesses experiencing difficulties.
CORK CHAMBER ADVOCACY
At Cork Chamber we are working daily with Government and continue to represent your voice, lobbying on your behalf. Below is some commentary on relevant items of business. CorkTogether
March 27th – Your Chamber Working with Government for Wage Subsidy Clarity
March 26th – Audio – Paschal Donohoe comments on Employer eligibility for Wage Subsidy Scheme.
March 25th – Further Focus on Government Related Cashflow Measures Essential
March 25th – Audio – Conor Healy welcomes Gov’t scaled funding of salaries
March 24th – Full Survey Results
March 24th – Chamber Survey Confirms Need for Continued Government Intervention
March 24th – National Business Survey published with Chambers Ireland
March 20th – Audio – Conor Healy on Deferral of Commercial Rates
March 20th – Assessment of Commercial Rates Deferral
March 18th – Paula Cogan, Cork Chamber President Addresses Members
March 17th – Audio – Conor Healy comment on business impacts
YOUR ACTION PLAN
OFFICIAL RESOURCES
Updated List of Essential Retail Outlets (28th March 2020)
List of Essential Retail Outlets (27th March 2020)
Latest Guidance on Public Health Measures – March 24th
Department of Business, Enterprise and Innovation – COVID-19 supports
Travel Advice Department of Foreign Affairs and Trade, Ireland
Health Service Executive Health Protection Surveillance Centre
