On 9th February 2021, Government announced measures worth €160 million to assist businesses during the pandemic. Included in these measures will be a €60 million COVID-19 Business Aid Scheme (CBAS). The aim of CBAS is to provide grants to businesses who are ineligible for other Government financial pandemic schemes such as;
1) Covid Restrictions Support Scheme (CRSS) or
2) Fáilte Ireland Business Continuity Scheme
Criteria (provisional as not yet finalised) to qualify for CBAS are as follows:
– The scheme will be available to companies, self-employed, sole traders or partnerships
– The business must have a minimum turnover of €50,000
– The business must not be owned and operated by a public body
– The business must not be eligible for CRSS or the Fáilte Ireland Business Continuity Scheme
– The business must be in receipt of a rates bill from their local authority or a business which operates from a building, or similar fixed physical structure on which business rates are payable
– Mobile premises, or premises which are not permanently fixed in place, do not meet the definition of business premises nor do premises on which no rates are payable
– The business must have a current Tax Clearance Certificate
– The estimated turnover of the business for the claim period must be no more than “25% of the average weekly turnover for the business in 2019” or the “projected average weekly turnover of the business for 1st January to 30 June 2021 for businesses that commenced after 1 November 2019”
– The business must intend to resume trading in full, once Government restrictions allow
– CBAS will provide funding of up to €8,000 for those business that are in receipt of a rates bill from their local authority
– Applicable to wholesalers, suppliers, caterers, events companies etc where business turnover is down 75% or more
Further information
Government €160m boost to Covid business grants
