COVID-19 has completely changed life as we knew it. Regardless of the way you work, it’s very likely that the pandemic has changed things. This much is clear — if you own a small business, you’re probably feeling the impact. Thankfully, the Irish government has come up with some grants to help during COVID-19.
We’re happy to tell you that the Irish government has launched a range of supports for businesses during this time. Whether you’ve been forced to close, or you’re operating at a reduced level, these supports can help you.
That being said, the business-related jargon can be a little difficult to understand. That’s why we want to explain it to you.
Irish Government Grants for COVID-19
The pandemic has had a huge impact on small and medium enterprises (SMEs), the world over. SMEs in Ireland haven’t been able to escape this crisis, either.
However, with Irish government grants, business owners could be back on their feet in no time, despite the COVID-19 pandemic. Here’s a range of options:
Income Supports
SME owners can apply for two different forms of income supports, through the Irish government.
Qualifying employers can apply for the Employment Wage Subsidy Scheme (EWSS). This gives employers a flat-rate subsidy, and is based on the number of qualifying employees on their payroll. To qualify, employees must earn between €151.50 and €1,462 a week.
In addition to this, there’s also the COVID-19 Pandemic Unemployment Payment. If you, or someone you know, has lost their job due to the pandemic, this could help. Furthermore, the government has put this support in place until March 31, 2021.
Due to this, we’d recommend checking to see if you qualify, and then applying as soon as possible.
Other Irish Government Grants for SMEs During the Pandemic
In addition to the income supports, the Irish government has also launched a series of other schemes to help SMEs. This means that Irish SMEs can apply for a series of grants, loans, schemes, and vouchers that will help keep them afloat.
We’ve put together a list of the best possible options to help you.
First, the COVID-19 Business Loans are especially useful. Applicants could receive up to €25,000 through Microfinance Ireland. For the first six months, recipients can expect zero repayments and zero interest, giving you time to get your business back on track.
SME owners can also apply for the Sustaining Enterprise Fund for Small Enterprise. Applying for this could give you a short-term working capital injection of up to €50,000. This fund is for smaller companies and is meant to help small businesses find their footing during the pandemic.
In addition to this, business owners can apply for the COVID Restrictions Support Scheme. This scheme is specifically for businesses that have had to close, or that have had to trade at reduced levels during the pandemic. Successful applicants can expect a maximum payment of up to €5,000 per week.
There are a number of other Irish government grants, specifically for businesses affected by COVID-19. Read on to find out more about them.
Schemes for the Self-Employed
If you’re self-employed, or if you run a successful business out of your home, you might not be eligible for some of these schemes. This might come as a blow, because the pandemic could very well have affected you, too.
We’re pleased to tell you that the government has taken this into consideration. They’ve come up with ways to help self-employed business owners who are affected by the pandemic. Self-employed individuals can apply for the Enterprise Support Grant.
This grant will provide self-employed individuals with €1,000. If you had to close your business due to the pandemic, this grant is for you. It’s meant to help you kickstart your re-opening, and can be used for a variety of business-related expenses.
Key Takeaways
The Irish government clearly understands the impact of COVID-19 on small businesses. Not only do they understand this, but they also want to help.
With the various schemes available, we’re certain that most businesses qualify for assistance in some form or another. To check on the different schemes and supports available, simply visit the Department of Enterprise, Trade, and Employment website.
There are over 15 schemes and supports available, across a wide range of sectors. If you’re struggling to keep your business afloat during the pandemic, consider reading up on these options.
With proper research, we’re confident that you’ll be able to find the perfect government support to help you through the pandemic and keep your business afloat.
