Irish Government announces new Covid-19 business scheme

The Irish Government has announced a new €60m Covid-19 Business Aid Scheme (CBAS), which is aimed at businesses ineligible for its other existing schemes, and designed to help them with fixed costs.

According to Tánaiste Leo Varadkar, the Cabinet agreed to do more to help businesses respond to the economic challenges arising from the pandemic, with a particular focus on firms that do not qualify for the weekly Covid-19 Restrictions Support Scheme (CRSS) grant from the Revenue Commissioners, or existing sectoral schemes.

“We have sought to help as many businesses as possible through wage subsidies and the many different grant and loan schemes we have put in place,” he said. “The new CBAS will help some businesses that aren’t eligible for existing grants. We estimate that this will help approximately 7,500 businesses. While the grant is modest, it will be of substantial assistance to smaller businesses with some of their fixed costs like rent, utilities and security.”

Among the provisional criteria for CBAS is that it’s available to companies, self-employed, sole traders or partnerships; there’s a minimum turnover of €50,000; and the business is not eligible for CRSS or the Fáilte Ireland Business Continuity Scheme.

Applicant must be in receipt of a rates bill from their local authority for a business that operates from a building, or similar fixed physical structure on which business rates are payable; and the business must have a current eTax Clearance Certificate from the Revenue Commissioners. The applicant must also intend to resume trading in full once the Government’s Covid-19 restrictions are eased.