The Government have announced that applications can now be submitted to apply for the Small Business Assistance Scheme for Covid (SBASC).
This scheme is to assist companies, self-employed, sole traders or partnerships effected by the Pandemic with a minimum turnover of €50,000 that are not eligible for the Revenue scheme CRSS, Fáilte Ireland Business Continuity Scheme or the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media’s Live Performance Support. Its aim is to help businesses’ with overheads, such as, rent, insurance and utilities.
Turnover of the eligible 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 1 January to 31 March 2021, and 30 June 2021 where applicable, for businesses that commenced after 1 November 2019, and the financial plans as of end of 2019 should be uploaded with the application.
Local Authorities are taking applications until 21st April 2021 for the first phase. Eligible businesses will receive a payment of €4,000 for Quarter 1 in 2021 and a further €4,000 at a future date.
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