Applications for phase 1 of €8,000 SBASC grant opens today

Applications for the €60m Small Business Assistance Scheme for Covid-19 have opened today.

The SBASC scheme is in addition to the package the Government has put in place to help businesses and workers during the pandemic.

These other supports include the Employment Wage Subsidy Scheme (EWSS), the Pandemic Unemployment Payment (PUP), the Covid Restrictions Support Scheme (CRSS), low-cost loans, the deferral and warehousing of tax liabilities and the waiver of commercial rates.

Eligible businesses will receive a payment of €4,000 for the first quarter of 2021 and there will be a second payment of €4,000 for businesses continuing to meet the criteria.

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

In order to be eligible the business must pay rates to a public authority and Interested businesses should contact their local authority.

The 31 Local Authorities in every county are taking applications today with a closing date of April 21 for the first round of the scheme.

Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar said that as the pandemic goes on, more and more businesses are struggling to keep up with payroll and fixed costs.

“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,” Mr Varadkar said.

“While things remain very challenging for businesses, there is reason to hope. The latest public health numbers are going in the right direction, the vaccines work and there is light at the end of the tunnel,” he added.