Thanks to lobbying from the Small Firms Association, Applications for Phase 1 of the Small Business Assistance Scheme for COVID (SBASC) are now open. The applications should be made to your Local Authority and the closing date for receipt of applications is 21 April 2021. SBASC gives grants to businesses who are not eligible for the Government’s COVID Restrictions Support Scheme (CRSS), the Fáilte Ireland Business Continuity grant or other direct sectoral grant schemes. This scheme aims to help businesses with their fixed costs, for example, rent, utility bills, security. A grant of €4,000 is available for the first quarter of this year. A decision on payment for the second quarter of this year will be made in due course. To qualify for the scheme, enterprises must have:
- 250 employees or less;
- Turnover of over €50,000; and
- The turnover of the business over the claim period is estimated to be no more that 25% of previous levels – see further details below.