News

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

The scheme aims to help small businesses that were ineligible for other schemes. The SBASC grant will support those businesses in Ireland that 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 business owners 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.

Additionally, any business owner 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?

If you are interested in this grant you should contact your Local Authority or Local Enterprise Office to apply through a new streamlined application process.

If you are in receipt of the Employment Wage Subsidy, you can apply for and receive this grant without it impacting your claim as this is classed as a grant rather than a loan or tax credit. The good news is that the grant 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.