The Restart Grant Plus has been launched by the Irish Government in a further attempt to support businesses impacted by Covid-19. This is one of a range of supports available and, in this article, we explain what it is and how you can access financial support through the scheme.
We wrote about the initial Restart Grant when it was first launched and we have assisted many companies in their applications for the first tranche of supports. Now, we are working with many companies to access funding through the Restart Grant Plus scheme which offers greater support than the first scheme.
As ever, there are qualifying criteria. The Restart Grant Plus scheme has three main eligibility criteria. To access funding, your business must have:
- 250 employees or less;
- Turnover of less than €100,000 per employee; and
- Reduced turnover by 25% as a result of COVID-19
What If I Received Funding In The Last Round?
You can apply for a second payment even if you received a payment in the last round of funding. There is a payment limit to a total combined value of the revised maximum grant level of €25,000.
Support for Sectors Previously Not Included
The new round of funding will provide funding for sectors 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.
Details about the Restart Grant Plus
- The grant will be based on the amount of the rates assessment for the premises for 2019 (excluding arrears) with a new minimum grant of €4,000 and a maximum grant of €25,000 (Increased from €2,000 min and €10,000 max).
- Eligible firms now include medium-sized firms and independent hotels with up to 250 employees, as well as small firms (increased from 50 employees).
- Businesses impacted by a 25% reduction in turnover will be eligible provided they commit to reopening and to hiring and sustaining employment.
- A turnover of up to €25m is now allowable, increased from €5m. There is a cap of €100,000 turnover per employee.
- Commercial sports businesses and trading charity shops in rated premises can now apply for the grant.
- The hospitality sector, restaurants, pubs, activity centres, and tourist attractions, for example, galleries, museums, are eligible if they are operating from a rated premise.
- B&Bs in non-rated premises will be eligible to apply for the minimum €4,000 grant from Fáilte Ireland.
- A franchisee which is a financially independent company and is completely separate from the franchisor is eligible to apply.
- Small company chains can apply if they meet the criteria of <250 employees and €25m turnover in totality across the company and all the branches.
- Multinationals are not eligible. Small Irish based subsidiaries with overseas parent companies are not eligible.
- Large chains that are part of a large group company, that is, one legal entity with a number of branches, such as fast food, group and multiple supermarkets, group hotels, group betting shops, and group pharmacies are not eligible.
How Do I Apply for Restart Grant Plus?
The fund is administered by County Councils and will be based on the amount of the rates assessment for the premises for 2019 (as referenced above). You can find out how to apply to your local County Council by clicking this link here.
We Can Assist You In Applying for The Restart Grant Plus
As mentioned above, we are working with many companies to help them with the Restart Grant Plus grant. Call us on 052 61 37775 or email us: [email protected]