Covid-19 Business Support Packages – Update
Source: Boost my Business/ RTE.ie (September 2020)
As a Business Owner it is very challenging to keep up to date with all of the Covid-19 numbers, announcements and restrictions. On their Boost my Business section RTE.ie recently shared the most up to date Business Supports for SME’s.
Some supports are ending soon so ensure you avail of what you and your Business are entitled to.
Here is an updated list of some of the current supports, loans and competitions open to micro, small and medium businesses navigating their way through the difficult Covid period.
- Fáilte Ireland Covid – 19 Adaption Fund: Supporting tourism and hospitality businesses who have incurred adaptation costs in order to re-open safely. Available grants up to €15,000 open for applications until 8 October 2020. Find details here
- Covid-91 Online Retail Scheme: Competitive fund through Enterprise Ireland for Irish-owned retailers to develop their online offering. Awards are 80% of their project costs – maximum grants of €40,000. The call for applications closes Monday, September 28 at 3pm. For all the information click here
- Micro Finance Loan – Loans from €5,000 to €25,000 are available to micro-enterprises that meet the eligibility criteria for the Covid-19 Loan. Interest rate of 5.5% APR applies but if you apply through your Local Enterprise Office you can avail of the lower rate of 4.5% APR. There are zero repayments and 0% APR for the first six months and you can apply for a rebate on interest for months 7-12 provided all repayments have been made. More details here
- Local Enterprise Office have many other supports and services as part of their Covid response including courses, Trading Online Vouchers and mentoring. Check out the list of supports here and find your local LEO here
- Covid -19 Credit Guarantee Scheme – Loans available to SMEs borrowing from €10,000 to a maximum of €1,000,000 for terms of 3 months up to 5 and a half years. Available from AIB, Bank of Ireland and Ulster Bank. Available up to 31st December 2020. For more details click here
- Enterprise Ireland Funds: For more on funding opportunities from the agency click here
- The Sustaining Enterprise Fund – Eligible applicants are manufacturing and internationally traded service companies with 10 or more full-time people on their payroll on the 29th of February 2020 who have seen a 15% reduction in actual or projected turnover/profit, or a significant increase in costs due to Covid. Available funding will comprise of both repayable and non-repayable supports. Click here for more details.
- Also if you are an Enterprise Ireland client make sure you avail of their Covid-19 Business Financial Planning Grant – providing 100% funding of up to €5,000 to access an approved financial consultant. Find more details here
- Enterprise Support Grant: Covid-19 support for micro enterprises. Restart grant of up to €1,000 for those not liable for commercial rates. See here for more information.
- Restart Grant Plus: Extra support is being provided for enterprises that could not access the original grant scheme, including rateable sports businesses and trading charity shops. Non-rated B&Bs will be eligible for a grant payment of €4,000. For more information on the newly revised scheme click here to find your local authority. Non-rated B&B’s need to apply through this link here (until 28th October)
- Údarás na Gaeltachta’s COVID-19 Online Trading Scheme: The closing date for Gaeltacht businesses is currently 30th September but there are a limited amount of vouchers left so get your applications in soon! You can find all the details here and other supports for Gaeltacht businesses here
- Intertrade Ireland E-Merge Programme – providing £2,500/€2,800 fully funded consultancy support to help businesses develop online sales and eCommerce solutions. Applicants must be indigenous businesses registered in Ireland or Northern Ireland and be active in either manufacturing or tradeable service sectors in the cross border market. Find more details here
- Apprenticeship Incentivisation Scheme: SOLAS provides financial support for employers who take on apprentices on national apprenticeship programmes. Apprenticeship employers are eligible for a €3,000 payment for each new apprentice. For more details check here
- Grow with Google – you can find a host of free programmes to help grow your business here
You can download the Covid-19 Information booklet here
Got any questions – Just ask!