The Restart Grant Plus Scheme opened for applications this week, with an additional €300m in funding announced for businesses.
While the eligibility criteria has also expanded, ensuring that more businesses can avail of the scheme, new and existing restart grant applications are welcome.
The scheme criteria has been expanded and €300m in additional funding has been announced.
Minister Varadkar’s Announcement
The announcement, by the Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar T.D, forms part of the government’s July Stimulus package, which contains €7.4bn of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19.
Additional Funding for Re-applicants
Businesses that received a grant under the initial Restart Grant scheme can re-apply to receive additional funding.
For first-time applicants under Restart Plus, the minimum grant is €4,000 and the maximum is €25,000.
Restart Grant – Key Changes
Additional key changes to the Restart Grant Plus Scheme include: €300m additional funding in addition to €250m previously committed; Grant amount has increased substantially. Minimum grant is now €4,000 and maximum is €25,000. Previous grant amounts were €2,000 and €10,000 respectively.
Medium sized companies are now eligible. Companies with up to 250 employees can now apply – previously the grant was for companies with less than 50 employees.
In the increased eligibility category now are: non-rateable B&Bs, sports clubs with commercial activities and trading charity shops are now eligible.
The Grant Criteria
A business must be commercial and in the local authority rates system – apart from non-rateable B&Bs who can apply to Fáilte Ireland; It must have suffered a 25% loss of expected turnover between 1 April and 30 June 2020; It must have less than 250 employees and turnover less than €25m; It must declare its intention to re-employ staff in receipt of the Temporary Wage Subsidy Scheme
Further Details on the Restart Grant
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 – an increase from €2,000 minimum and €10,000 maximum.
Eligible firms now include medium-sized firms and independent hotels with up to 250 employees, as well as small firms – increased from 50 employees.
Reopening, Hiring and Sustaining Employment
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
The hospitality sector, restaurants, pubs, activity centres and tourist attractions, e.g., galleries, museums are eligible if they are operating from a rated premises.
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 to 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.
Companies Not Eligible
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, i.e. 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.
Fáilte Ireland Applications
Applications to Fáilte Ireland, who will administer the funding to non-rate paying B&Bs, will open over the coming weeks.
Further information is available on the Kerry County Council website at: https://business.kerrycoco.ie/restart-grant/ or by contacting the Business Support Helpline at 1800 807 102