Extension to the eligibility for SBASC to businesses in non-rateable premises with fixed costs and incurring a significant loss of turnover due to the COVID-19 restrictions
The Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar TD has extended eligibility for the €60m Small Business Assistance Scheme for COVID (SBASC) to include businesses operating from a non-rateable premise such as a home business or yard.
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 will be 21 July.
Applications for Phase 1 of the Small Business Assistance Scheme for COVID (SBASC) closed on 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 payment 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 shortly. 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.
The scheme will be run on a first-come-first-served basis.
Details about the scheme
- The scheme is available to companies, self-employed, sole traders or partnerships;
- minimum turnover of €50,000;
- are not owned and operated by a public body;
- the business is not eligible for CRSS or Fáilte Ireland Business Continuity Scheme or other sectoral grant scheme;
- they are in receipt of a rates bill from their local authority for business which operates from a building, or similar fixed physical structure on which business rates are payable;
- eligibility for the scheme has now been extended to those businesses operating from a non-rateable premises with fixed costs, if such businesses meet all other eligibility criteria for SBASC.
- the turnover of the business over the claim period is estimated to be no more than 25% of the average weekly turnover of the business in 2019 or the projected average weekly turnover of the business for 1 January to 30 June 2021 for businesses that commenced after 1 November 2019;
- the business intends to resume trading in full once Government restrictions are eased. The scheme will aid eligible businesses for the period beginning 1 January to 31 March 2021;
- the grant will be paid via the Local Authorities, based on an online application;
- eligible applications will receive an initial payment of €4,000 for Q1 2021; and
- payments will be dispersed in the same format as rates refunds via bank transfer.
For more COVID-19 business supports visit enterprise.gov.ie/coronavirus.