Small Business Assistance Scheme open for applications

Mar 15, 2021

Applications for the €60 million Small Business Assistance Scheme for COVID (SBASC) opened last Thursday, 11 March. Applications for the first round of the scheme can be made through the 31 Local Authorities in every county before the closing date of 21 April 2021. Eligible applicants will receive a first payment of €4,000 for the first quarter of 2021. A second payment of €4,000 will be available to businesses continuing to meet the eligibility criteria. 

The scheme is available to companies, self-employed, sole traders or partnerships, with a minimum turnover of €50,000 who are not eligible for CRSS, the Fáilte Ireland Business Continuity Scheme, or the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media’s Live Performance Support.

To be eligible the business must:

  • pay rates to a public authority,
  • currently employ less than 250 employees,
  • have current turnover of less than €25 million, and
  • intend to resume trading in full once Government restrictions are eased.

The business must also have a current eTax Clearance Certificate.

To be eligible the turnover of the business over the claim period should be estimated to be no more than 25 percent of the average weekly turnover of the business in 2019; or the projected average weekly turnover of the business for 1 January to 31 March 2021, and 30 June 2021 where applicable, for businesses that commenced after 1 November 2019, and the financial plans as of end of 2019 should be uploaded with the application.

On the opening of the application process, the Tánaiste, Leo Varadkar TD, expects that:

“This new payment will help businesses with fixed costs like rent, insurance, utilities and security. SBASC should help around 7,500 mainly small businesses and although the grant is modest, it will go a long way for the smallest businesses.”

Further information on making an application for SBASC can be found in the Department of Enterprise, Trade and Employment press release. Contact details for each Local Authority can be found on gov.ie.