Small Business Assistance Scheme for COVID (SBASC) open for applications from both SMEs & Microenterprises

Posted on By monaghan

Covid 19 Business Supports

The expanded Small Business Assistance Scheme for COVID is now closed.

Phase 2 of this scheme has been expanded to include those that had previously been ineligible.

Businesses working from non-rateable premises are now eligible to apply and if they meet the other eligibility criteria will receive a grant of €4,000.

Businesses with a turnover between €20,000 and €49,999 are also now eligible to apply if they meet the other eligibility criteria and will receive a grant of €1,000.

SBASC gives grants to businesses who are not eligible for the Government’s COVID Restrictions Support Scheme (CRSS), the Fáilte Ireland Business Continuity grant or other direct sectoral grant schemes. This scheme aims to help businesses with their fixed costs, for example, rent, utility bills, security.

If you have received Phase 1 of SBASC you can apply for Phase 2 if you continue to meet the eligibility requirements.

Details of Phase 2 of SBASC:

  • The scheme is available for businesses that do not qualify for CRSS, MEBAS, Fáilte Ireland Schemes or other sector schemes designed to assist with fixed costs
  • the scheme is available to companies, self-employed, sole traders or partnerships;
  • the business is not owned and operated by a public body;
  • the business is not eligible or availed of CRSS, Fáilte Ireland Business Continuity Scheme, MEBAS or other sectoral schemes. The details of these schemes are set out on the application form and FAQs.
  • the business operates from a building, including working from home, or similar fixed physical structure such as a yard or a street trading pitch for which rates are payable or in a co-working hub or a rented fixed desk.   This does not include businesses carried on from motor vehicles, such as PSVs or construction trades;
  • the business must have a current eTax Clearance Certificate from the Revenue Commissioners;

 

Business Turnover criteria

  • the turnover of the business over the claim period 1st April to 30th June 2021  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 in 2020, for businesses that commenced after 1st November 2019, and the financial statements as of end of 2019 should be uploaded with the application;
  • the business intends to resume trading in full once Government COVID-19 restrictions are eased.
  • the business was in existence and trading prior to 1st January 2021 and can provide evidence of same.

 

Proposed Term & Level of Payments

  • The scheme will aid eligible businesses that meet the scheme criteria for the trading period beginning the 1st April to 30th of June 2021.
  • All eligible applications with a minimum turnover of €50,000 will receive a payment of €4,000.
  • All eligible applications with a minimum turnover of €20,000 and less than €49,999 will receive a payment of €1,000.
  • Payments will be dispersed in the same format as rates refunds via bank transfer.

 

Closing date for this scheme is 21st July 2021.

Monaghan County Council LEO Monaghan logo

Data Protection Statement: Small Business Assistance Scheme for COVID (SBASC)