Tánaiste Leo Varadkar yesterday extended eligibility for the €60m Small Business Assistance Scheme for COVID (SBASC) to include businesses operating from a non-rateable premise like a home business or yard.  

The Tánaiste is also relaunching the Micro Enterprise Assistance Scheme so that our smallest businesses, those with a turnover of less than €50,000 can apply for a grant of €1000 to help with fixed costs, to include legal fees.

The Tánaiste said the hope is that the arrangements will catch those who have not qualified under existing schemes, mainly because they don’t operate from a rateable premises.

“Those who are self-employed and working from a non-rateable premises, such as their own home for example, can apply for a €4,000 payment to help with fixed costs.

“While the grant is modest, it will make a big difference to those businesses. It is designed to help with energy bills, security, IT systems fees, legal and accounting fees or any other fixed costs that may incur as part of running a business.

Eligible

The Small Business Assistance Scheme for COVID (SBASC) is for businesses which are not eligible for CRSS or other sector specific grants, that are down 75% or more of turnover.

Further details, including the go-live date for Q2, will be announced shortly. Those who applied under Phase 1 are still eligible to apply for a second payment of €4,000 if they continue to meet the criteria.

Interested businesses should contact their local authority. Closing date for Phase 2 applications is 21 July.

The Micro Enterprise Assistance Scheme is for companies facing hardship which do not qualify for other government schemes.

Turnover

It will provide a grant of up to €1,000 to businesses with previous turnover of less than €50,000 that meet the other criteria for SBASC.

Minister of State for Business, Employment and Retail, Damien English said he was optimistic that the grant towards some of the ongoing fixed costs associated with maintaining operations will help small firms return to viability.