Government approves details of “Restart Grant” for small businesses

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The Government has 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 reemploying workers following COVID-19 closures.

To avail of the Restart Grant, a business must be in the Local Authorities Commercial Rates Payment System and: 

• have an annual turnover of less than €5m and employ between 1 to 50 people;
• have closed and/or suffered a projected 25%+ loss in turnover to end June 2020; 
• commit to remain open or to reopen if it was closed;
• declare the intention to retaining employees that are on The Temporary Wage Subsidy Scheme (TWSS) and to reemploy staff on the Pandemic Unemployment Payment where applicable.

The grant can be used to defray ongoing fixed costs, for replenishing stock and for measures needed to ensure employee and customer safety.

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 cashflow amongst our SMEs.

Applications for the Restart Grant can be made online to local authorities from Friday 22 May 2020 - Apply for your Restart Grant through your Local Authority website:

https://dbei.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/COVID-19-Restart-Grant-Local-Authority-Websites.html

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