Restart Grant for Small Businesses
Applications for the Government’s recently announced Restart Grant can be made online to local authorities from Friday 22 May.
The Restart Grant 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. The grants are equivalent to the rates bill of the business in 2019, with a minimum payment of €2,000 and a maximum payment of €10,000.
Many businesses, even while closed, continue to incur costs including fixed costs without being able to generate revenues. It is recognised that businesses will also incur costs in preparing their businesses to reopen and meeting the needs of employees and customers. The Restart Grant is designed to alleviate the pressure on businesses in this context.
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 €5 million and employ between 1 to 50 people
- Have closed 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.