Galway businesses can avail of Government restart grant

Galway businesses can now apply for the Government's Restart Grant Plus Scheme, which gives financial help to help them reopen .

The Restart Grant Plus is a key part of the Government’s July stimulus package, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19.

There are some changes to the Restart Grant Plus Scheme, including an additional €300m funding, in addition to €250m previously committed. And the grant amount has increased - the minimum grant is now €4,000 and maximum is €25,000, previous grant amounts were €2,000 and €10,000 respectively.

Medium sized companies a with up to 250 employees can now apply (previously the grant was for companies with fewer than 50 employees ), while the Government has also increased the eligibility with non-rateable B&Bs, sports clubs with commercial activities, and trading charity shops now being eligible.

To qualify for a grant, the important criteria are:

•A business must be commercial and in the local authority rates system (apart from non-rateable B&Bs which can apply to Fáilte Ireland ).

• It must have suffered a 25 per cent loss of expected turnover between April 1 and June 30, 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.

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 per cent 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.

The hospitality sector, restaurants, pubs, activity centres and tourist attractions, eg, galleries, museums, are eligible if they are operating from a commercial rated premise. A franchisee, which is a financially independent company and is completely separate to the franchisor, is eligible to apply.

While small company chains can apply if they meet the criteria, 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, ie, 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.

B&Bs in non-rated premises will be eligible to apply for the minimum €4,000 grant from Fáilte Ireland. Applications to Fáilte Ireland, will open over the coming weeks.

The new online application form is for N ew Applicants only and further details and FAQs will be available over the coming days at www.galwaycity.ie/restart .

Businesses that received a grant under the initial Restart Grant Scheme do not need to re-apply to receive their additional funding ,and correspondence will be issued from the Galway City Council within the next week.

 

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