GOVERNMENT APPROVES DETAILS OF RESTART GRANT FOR SMALL BUSINESSES
The Government has announced more details of the Restart Grant for small businesses:
- Direct grant aid of between €2,000 minimum and €10,000 maximum based on commercial rates bill from 2019
- Scheme applies to small businesses with a turnover of under €5 million and employing 50 people or less
- The grant scheme opens for applications on Friday 22 May through the Local Authorities
The government has agreed details of the new €250 million Restart Grant, giving 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 is available to businesses with a turnover of less than €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. It is a contribution towards the cost of reopening or keeping a business operational and re-connecting with employees and customers.
The grants will be equivalent to the rates bill of the business in 2019, with a minimum payment of €2,000 and a maximum payment of €10,000.
Applications for the Restart Grant can be made online to local authorities from Friday 22 May.