Business Supports Through Covid-19

COVID-19 Business Aid Scheme (CBAS) – provisional qualifying criteria

1. the scheme would be available to companies, self-employed, sole traders or partnerships;
2. minimum turnover of €50,000;
3. not owned and operated by a public body;
4. the business is not eligible for CRSS or Fáilte Ireland Business Continuity Scheme;
5. they are in receipt of a rates bill from their local authority for business which operates from a building, or similar fixed physical structure on which business rates are payable (mobile premises, or premises which are not permanently fixed in place, do not meet the definition of business premises nor do premises on which no rates are payable);
6. the business must have a current eTax Clearance Certificate from the Revenue Commissioners;
7. the turnover of the business over the claim period 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 for 1st January to 30th June 2021 for businesses that commenced after 1st November 2019; and
8. the business intends to resume trading in full once Government restrictions are eased.

Covid Restrictions Support Scheme (CRSS)

In Budget 2021, the Government announced a new COVID Restrictions Support Scheme (CRSS) to help support businesses. Generally, this scheme applies when Level 3 or higher restrictions are in place in line with the Plan for Living with COVID-19.

Qualifying businesses can apply to Revenue for a cash payment of up to €5,000 a week. The scheme runs from 13 October 2020 until 31 March 2021.

View full revenue CRSS Guidelines here.

The Wage Subsidy Scheme

The Wage Subsidy Scheme allows employers to continue to pay their employees during the COVID-19 (coronavirus) pandemic.  Under the EWSS scheme, employers and new firms in sectors impacted by COVID-19 whose turnover has fallen 30% get a flat-rate subsidy per week based on the number of qualifying employees on the payroll, including seasonal staff and new employees.

Full details on revenue.ie and latest FAQs click here.

Restart Grant Plus

Direct grant aid of between €4,000 minimum and €25,000 based on commercial rates bill from 2019.

Scheme applies to small businesses with a turnover of under €100k and employing 250 people or less.

To view the additions to the restart grant plus for bars and nightclubs – click here

* Applications via Cork County Council
* Applications via Cork City Council

Enterprise Support Grant

The Enterprise Support Grant will be made available to assist self-employed recipients who are exiting the Pandemic Unemployment Payment (PUP) scheme. This will provide owners with a once-off grant of up to €1,000 to re-start their business. A fund of €12m has been allocated for the extension of this grant.

The grant will be payable to self-employed micro enterprises which employ fewer than 10 people, have an annual turnover of less than €1 million and are not eligible for support from the COVID 19 Business Restart Grant or other similar business reopening grants. Read more.

Short-time Work Support

Short-time Work Support is available under Job Seeker’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. More details here.

Microfinance Loans

A further €15m has been allocated to re-open low cost Covid-19 loan scheme for microenterprises, with less than 10 employees, via Microfinance Ireland (MFI).

Read More

SBCI Loans

Loans from €25,000 to €1.5 million under the Working Capital Loan Scheme, operated by the Strategic Banking Corporation of Ireland (SBCI). Loans are available to viable micro enterprises, SMEs and enterprises with up to 500 employees.

Longer term loans from €100,000 to €3,000,000 for SME’s under the Future Growth Loan Scheme also operated through the SBCI. The loans have a maximum interest rate of 4.5% and the first €500,000 borrowed can be unsecured.

More details here.

Credit Guarantee Scheme

The new COVID-19 Credit Guarantee Scheme (CGS) will make low cost loans available to businesses impacted by the pandemic. The Government has agreed to publish the Credit Guarantee (Amendment) Bill 2020, which will underpin the scheme.

More information here.

Trading Online Voucher

Under the Government’s National Digital Strategy, the expanded Trading Online Voucher Scheme helps small businesses with up to 10 employees to trade more online, boost sales and reach new markets. There is up to €2,500 available through the Local Enterprise Offices with co-funding of 10% from the business.

Training and further business supports are also provided by Local Enterprise Offices,and businesses that have already received a Trading Online Voucher can now apply for a second voucher, where upgrades are required.

More details here.

Support from Banking & Payments Federation Members

Retail banks (AIB, Bank of Ireland, KBC, Permanent tsb and Ulster Bank), non-bank mortgage lenders (Finance Ireland and Dilosk/ICS Mortgages) and credit servicing firms (Investec Private Finance Ireland Ltd, Lapithus, Link Group, Mars Capital, Pepper and Start) have put in place measures to help personal customers and businesses including not-for-profit businesses/organisations (retail banks only). Read More.

Guide for Businesses May 12, Department of Business, Enterprise and Innovation click here

Return to Work Protocol May 08 Click here – read Chamber comment here

Sustainable Cork Programme May 08 Read more

Waiver on commercial rates, warehousing of tax liabilities and grant schemes May 02 – click here.

Roadmap for Reopening Society & Business – May 01 click here.

NSAI. Check their website here for tools tailored to your business sector.

Enterprise Ireland: Business support brochure;  Sustaining Enterprise Fund; Financial planning grant; Lean business continuity; Employers guide

Illness Benefit

The Government has announced that the rate of Illness Benefit has further increased from €305 to €350 per week, and recipients will not have to wait 6 days before applying for the benefit.

The enhanced Illness Benefit will be paid for a maximum of 2 weeks where an individual must self isolate, and for a maximum of 10 weeks if an individual is diagnosed with COVID-19,

Find out more here.

Pandemic Unemployment Payment

The Covid-19 Pandemic Unemployment Payment has been extended to August 10th. This payment was increased to €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 (or close) the Covid-19 unemployment payment is via MyWelfare.ie.

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.

Employers with queries can email the Cork branch here.

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.