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Bigger grants for businesses to reopen
Pic: RollingNews.ie

10 Aug 2020 / business Print

Bigger grants for businesses to reopen

An expanded scheme of grants to help businesses to reopen in line with public health guidelines has been launched.

Restart Grant Plus provides sums of between €4,000 up to a maximum of €25,000. The previous scheme’s maximum was €10,000.

Second payment

Grants are now available to businesses with 250 or fewer employees and turnover of less than €100,000 per employee.

Firms must also show that their turnover has fallen by 25% as a result of COVID-19 restrictions, and commit to reopening and to sustaining employment.

Companies that secured funding through the previous round of the scheme are eligible to apply for a second payment, though the total of the two combined grants cannot go above the new maximum of €25,000.

Medium-sized firms

The changes mean medium-sized firms and independent hotels can now access funding, while the revamped scheme also brings in new enterprises such as rateable sports businesses and trading charity shops.

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar (pictured) said €300 million was being invested in the scheme. Firms can apply through their local authority, while non-rated B&Bs can apply to Fáilte Ireland.

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland