Covid-19 Business Aid Scheme (CBAS) Explained
New Scheme - CBAS - targets businesses currently ineligible for CRSS and other sector specific grants. Up to €8,000 for eligible businesses.
New grant aimed at businesses currently ineligible for CRSS
Tuesday, 09 February: Government has announced a new €60m Scheme – the COVID-19 Business Aid Scheme (CBAS).
The scheme – CBAS – is aimed at those businesses whose turnover is down 75% and don’t currently qualify for existing grants such as CRSS, largely due to the fact that the premises they operate from have not been closed to the public.
Eligible businesses will receive up to €8,0000 – €4,000 in Q1 and €4,000 in Q2 2021 if they remain eligible.
The grant is modest however it is intended to help smaller businesses with some of their fixed costs like rent, utilities and security.
It is estimated that this new grant will help approximately 7,500 businesses.
Eligibility
Provisional Criteria for COVID-19 Business Aid Scheme (CBAS) are as follows:
- the scheme would be available to companies, self-employed, sole traders or partnerships;
- minimum turnover of €50,000;
- Are not owned and operated by a public body;
- the business is not eligible for CRSS or Fáilte Ireland Business Continuity Scheme;
- 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);
- the business must have a current eTax Clearance Certificate from the Revenue Commissioners;
- 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 - the business intends to resume trading in full once Government restrictions are eased.
Application
*Application details are still to be finalised. We will keep you updated.
We are here to help. Should you have any queries in relation to business supports, business continuity or any area of business or financial advice, do get in touch at 0818 303087 or email info@avidpartners.ie.
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