New grant aimed at businesses currently ineligible for CRSS
Updated 21 April 2021
Government has announced a new €60m Scheme – Small Business Assistance Scheme for COVID (SBASC)
The scheme – SBASC- is aimed at those businesses whose turnover is down 75% and don’t currently qualify for existing grants such as CRSS, largely due to the fact that the premises they operate from have not been closed to the public.
Eligible businesses will receive up to €8,0000 – €4,000 in Q1 and €4,000 in Q2 2021 if they remain eligible.
The grant is modest however it is intended to help smaller businesses with some of their fixed costs including rent, insurance, utilities and security.
It is estimated that this new grant will help approximately 7,500 businesses.
Eligibility for SBASC
Criteria for Small Business Assistance Scheme for COVID (SBASC) are as follows:
- Be a sole trader, a company, self-employed, or a partnership;
- Have a minimum turnover of €50,000 for each rateable premises;
- Not be owned or operated by a public body;
- Not eligible for/be in receipt of CRSS for the period for which the grant covers or eligible for Fáilte Ireland’s Business Continuity Scheme or the Live Performance Support Scheme of the department or the Music Entertainment Business Assistance Scheme of Tourism, Culture, Arts, Gaeltacht, Sport and Media.
- Operate from a building, or similar fixed physical structure on which business rates are payable
(mobile premises, or premises which are not permanently fixed in place, do not meet the definition of business premises nor do premises on which no rates are payable);
- Must have a current eTax Clearance Certificate from the Revenue Commissioners.
- 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 1st January to 31st March 2021, and 30th of June 2021 where applicable, for businesses that commenced after 1st November, 2019 and
- The business intends to resume trading in full once Government restrictions are eased.
- Have 1 – 250 employees and a projected turnover of less than €25 million in 2021;
- In relation to the verification of the €50,000 turnover requirement, applicants will be required to upload their most recent financial or trading accounts or the relevant section of their most recent Revenue income tax Form 11, which verifies turnover in excess of €50,000.
SBASC Application
In order to be eligible the business must pay rates to a public authority and Interested businesses should contact their local authority. Find your local authority here.
On the SBASC dedicated page , click on the “Apply” button on the right hand side, create an account and complete the form.
The application form will require applicants to self-declare that they are ineligible for the CRSS, the Fáilte Ireland Business Continuity Grant or the Live Performance Support Scheme or the Music Entertainment Business Assistance Scheme of the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media and that they are not applying for or in receipt of those grants.
Applicants will also be asked to consent to data sharing with the Office of the Revenue Commissioners to enable spot checks on CRSS eligibility.
The closing date for applications for the initial grant under SBASC is 21 April 2021.
Access Frequently Asked Questions here
Further information via DETE: Small Business Assistance Scheme for COVID (SBASC)
We are here to help. Should you have any queries in relation to business supports, business continuity or any area of business or financial advice, do get in touch at 0818 303087 or email info@avidpartners.ie.
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