Galway businesses urged to apply for new small business grants

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Businesses in Galway are being urged to avail of grants from the €60 million Small Business Assistance Scheme for Covid (SBASC).

Galway East TD Seán Canney said that it is important for small businesses to be supported through the COVID-19 pandemic.

“These are much need supports and I encourage all firms to look at the scheme and apply for the grants available”.

The scheme, which was announced this month, provides grants of up to €8,000 to companies, self-employed, sole traders or partnerships, with a minimum turnover of €50,000 and are not owned and operated by a public body.

In order to be eligible, businesses must have less than 250 employees, and a turnover of under €25 million. The applicants’ turnover must also be down to no more than 25% of previous levels.

They must also not be eligible for other grant scheme such as the CRSS, the Fáilte Ireland Business Continuity Scheme, or the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media’s Live Performance Support.

The scheme makes a first grant payment of €4,000 in Q1 of 2021, and a second payment of the same amount later in the year.

Applications should be made to your local council, and the closing date to apply for the scheme is April 21.

Tánaiste Leo Varadkar said “As the pandemic goes on, more and more businesses are struggling to keep up with payroll and fixed costs. My objective is to ensure that as many businesses as possible get through this period and are able to re-open successfully.

“This new payment will help businesses with fixed costs like rent, insurance, utilities and security. SBASC should help around 7,500 mainly small businesses and although the grant is modest, it will go a long way for the smallest businesses.”

“While things remain very challenging for businesses, there is reason to hope. The latest public health numbers are going in the right direction, the vaccines work and there is light at the end of the tunnel.”