News

Opening for a second round of applications, the Small Business Assistance Scheme for Covid (SBASC) has re-launched today, for both SMEs and microenterprises.

This scheme is aimed to help small businesses, who were not eligible for other schemes, with their fixed costs. The SBASC grant will support those businesses in Ireland who play a crucial role in maintaining jobs and creating new opportunities for employment across the county.

Those with a turnover above €50,000 can apply for a grant of €4,000 and microenterprises with a turnover between €20,000 and €49,999 can apply for a grant of €1,000.

Are you eligible?

Businesses operating from non-rateable premises, such as home offices and hot desks are eligible to apply for this grant.

Those who were not eligible for the Covid Restrictions Support Scheme (CRSS) or other sector-specific grants and whose turnover is down 75 per cent due to the Covid-19 pandemic are also eligible for this grant.

Not only this, but any businesses who applied under Phase one are still eligible to apply for a second payment of €4,000 or €1,000, if they still meet the criteria.

How do you apply?

Businesses that are interested in this grant should contact their Local Authority or Local Enterprise Office to apply through a new streamlined application process.

Those in receipt of the Employment Wage Subsidy can apply for and receive this grant without it impacting their claim as it is a grant and not a loan or tax credit. This is not re-payable.

Please note that the closing date for Phase two applications is 21 July.

At McMahon & Co., our services go beyond the accounts and balances of a business. We focus on ways to ensure your company’s profitability today while planning for sustainable business growth.

For more help or advice on grant schemes, please contact us today.