The Government today agreed details of the new €250m Restart Grant, which will give direct grant aid to micro and small businesses to help them with the costs associated with reopening and re employing workers following COVID-19 closures.
- Direct grant aid of between €2,000 minimum and €10,000 based on commercial rates bill from 2019.
- Scheme applies to small businesses with a turnover of under €5m and employing 50 people or less.
- Scheme opens for applications on Friday 22 May through the Local Authorities.
The Grant will be available to businesses with a turnover of less than €5m and employing 50 people or less, which were closed or impacted by at least a 25% reduction in turnover out to 30th June 2020. It is a contribution towards the cost of re-opening 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 22nd May.
Processing of applications and payment of the Restart Grant will depend on the initial surge of applications but, as far as is feasible, will be prioritised according to scheduled re-opening dates in the national Roadmap.
This direct grant support is part of the wider €12bn package of supports for firms of all sizes, which includes grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cash-flow among our SMEs.
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