Press Statement 15th May 2020
Restart Grant Scheme of up to €10k for Small Businesses open from next week -O’Donnell
- Direct grant aid of between €2,000 minimum and €10,000 based on commercial rates 2019 bill.
- Scheme applies to small businesses with a turnover of under €5m and employing 50 people or less.
- Open for on-line, with a one page application form from Friday 22 May through the Limerick City & County Council.
- For businesses closed or impacted by 25%+ reduction in turnover out to June 30th
Limerick Fine Gael TD Kieran O’Donnell has welcomed today’s announcement by government that it has agreed details of the new national €250m Restart Grant Scheme, which will give direct grant aid to micro and small businesses in Limerick to help them with the costs associated with re-opening and re-employing workers following COVID-19 closures and reduced business.
The Scheme offers direct grant aid of between €2,000 and €10,000 to small businesses, equivalent to their commercial rates bill for 2019. The grant is available to businesses with a turnover of less than €5m with 50 or less employees which have closed or been impacted by at least a 25% reduction in turnover to end 30th June 2020. The Scheme opens for on-line applications next Friday 22nd May through Limerick City and County Council and it will be a one page application form.
Deputy Kieran O’Donnell said, ‘I welcome the confirmation by government today that the Restart Grant which will provide a between €2,000 minimum and €10,000 of direct grant aid to small businesses in Limerick will open for applications from next Friday 22nd May and I would encourage all businesses here in Limerick to apply for this Restart Fund to Limerick City & County Council. It will be an on-line, one page application form. The grant aid will be equivalent to their commercial rates bill for 2019. This scheme will provide businesses that are reopening or that have faced a 25% drop in turnover in Limerick in both urban and rural areas a much needed cash injection as we enter in the weeks and months ahead.
‘Furthermore, this grant can be utilised to cover measures needed to ensure employee and customer safety, ongoing fixed costs and stock replenishment.
“Processing of applications and payment of the Restart Grant will be prioritised according to scheduled re-opening dates in the national Roadmap.
Notes to the Editor
About the Restart Grant
Micro and small businesses are particularly vulnerable to the economic effects of Covid-19. 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 €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.
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.
The grant can be used to defray ongoing fixed costs, for replenishing stock and for measures needed to ensure employee and customer safety.