AAL has been providing an extensive amount of information for client companies impacted by COVID-19. The global economy has experienced a shock of the type not seen since the onset of the Great Depression almost one hundred years ago. Government measures have resulted in some companies having to cease operations for the duration of the crisis. Others have been forced to look at new ways of working in an effort to continue operating at this time.
We have compiled some of our most read articles and most relevant communications to client companies to enable you to understand how the COVID-19 crisis impacts on you and your company.
Our company is working with our a wide range of companies, across many sectors, at the moment and we are helping them to deal with the current crisis. We are also helping them to look at how their company might come out through ‘the other side’ of the COVID-19 crisis as a stronger company. Contact us today on 052 61 37775 if you would like to speak to us about how we might be able to help your company through COVID-19.
The Wage Subsidy Scheme
The introduction of the Wage Subsidy Scheme was widely welcomed by industry groups and by employers. However, the ‘devil in the detail’ has caused some confusion for company owners and Managing Directors. We have fielded many calls about the issue and, as a result, we have created a briefing document for our client companies. We have published the briefing document on our website and you can read it by clicking here. It provides a step by step breakdown of how the scheme operates and how you can put it in to place.
UPDATE 15th April, 2020 – The wage subsidy scheme has been updated since this article was first published. Minister Donohoe today announced further changes to the Scheme which apply to those earning less than €500 per week (approx. €31,000) as well as those earning in excess of €586 per week (€38,000). You can read about those changes by clicking here.
Bank, Government & Support Support Agency Supports During COVID-19
Aside from the issue of wage subsidies, there are other supports available at this unprecedented time. Agencies such as Enterprise Ireland (which predominantly supports exporting companies and High Potential Start Ups) and the network of Local Enterprise Offices have also put in place a range of measures that companies can access in an effort to work through the COVID-19 crisis.
Banks have also moved to support customers with working capital support and flexible arrangements on financing. In all there are a suite of supports available from the five main banks operating in the Irish market. We have been guiding our clients in recent days through the many supports available.
You can read an overview of the supports from the banks and the state business support agencies by clicking here.
It’s Time To Think Differently
The widespread acceptance of video conferencing as a day to day tool for all businesses has enabled our team at AAL to work through the crisis and to speak directly with our clients about their individual issues. Some clients have used this time to speak with our Managing Director, Áine Kiely O’Donnell, on video calls about how they can come through the crisis and how they can grow their business afterwards. Recently, Áine wrote about the need to think differently in an effort to come through these difficult times. You can read Áine’s blog by clicking here. If you would like to book in a video call with Áine to talk through the issues impacting on your business right now, and how you can position your business to exit the crisis then please call us on 052 61 37775. Book a call with Áine by clicking here.