COVID-19 Supports for Large Businesses
CRSS (COVID Restrictions Support Scheme):
CRSS was introduced to support businesses significantly affected by restrictions introduced to combat the COVID-19 pandemic. The business must have been
required to prohibit or considerably restrict customers from accessing their business premises. Companies,
self-employed individuals, and partnerships that carry out a taxable trade can apply for the CRSS and are eligible if their turnover for the restricted period was disrupted by 75% compared to 2019 levels. Qualifying businesses can apply to Revenue for a cash payment of up to €5,000 a week. The scheme runs from 13 October
2020 until 31 December 2021.
Further Information: https://www.citizensinformation.ie/en/employment/types_of_employment/self_employment/covid_restrictions_support_scheme.html
Business Resumption Support Scheme:
A new Business Resumption Support Scheme (BRSS) was
announced under the Economic Recovery Plan for Ireland to support vulnerable but viable businesses in sectors that were significantly impacted throughout COVID-19. The BRSS will be introduced in September 2021 for
businesses whose turnover is reduced by 75% in the reference period (1 September 2020 to 31 August 2021)
compared with 2019. The BRSS will be administered by Revenue and will operate in a similar way to CRSS.
Further Information: https://www.citizensinformation.ie/en/employment/types_of_employment/self_employment/supports_for_businesses_covid19.html
Enterprise Support Grant:
If you are self-employed and received the COVID-19 Pandemic Unemployment Payment (PUP), Jobseeker’s Benefit or Jobseeker’s Allowance and are reopening your business, you may
qualify for the Enterprise Support Grant. The grant, worth up to €1000, is aimed at sole traders who do not pay
commercial rates and, therefore, do not qualify for the CRSS or similar restart grants, in order to assist them in
reopening their businesses.
Further Information: https://www.gov.ie/en/service/739f3-enterprise-support-grant-for-buisnesses-impacted-by-covid-19/
Sustaining Enterprise Fund:
This funding is open to manufacturing or internationally traded service sector companies that employ more than 10 people, and who have seen (or expect to see) a 15% or greater reduction in actual or projected turnover or profit, or a significant increase in costs, as a result of COVID-19. Funding
of between €100,000 and €800,000 is available with no repayments for the first 3 years and zero administration fee for the first 6 months.
Further Information: https://globalambition.ie/supports/innovation-support/sustaining-enterprise-fund/
€2 billion Pandemic Stabilisation and Recovery Fund (PSRF):
The PSRF will use €2 billion to
support medium and large enterprises in Ireland affected by COVID-19. The PSRF will focus on investment in
large and medium enterprises employing more than 250 employees or with annual turnover in excess of €50
million. ISIF may consider investing in enterprises below these levels if they are assessed to be of substantial
scale and of significant importance at national or regional level. The fund will act as an accelerator, investing
on a commercial basis in businesses that can meet the investment requirements and can use ISIF investment
to return to long-term viability.
Further Information: https://isif.ie/pandemic-stabilisation-and-recovery-fund
Trading Online Voucher Scheme:
An initiative under the Government’s National Digital Strategy, the
expanded Trading Online Voucher Scheme helps small businesses with up to 10 employees to trade more
online, boost their sales and reach new markets. There is up to €2,500 available through the Local enterprise
Offices, with co-funding of 50% from the business. Funding can be used towards adding payment facilities or
booking systems to your website or developing new apps for your customers. The voucher can also be used
towards subscriptions to low cost online retail platform solutions to help companies quickly establish a retailing presence online. The qualify for the scheme, a business must have limited or no e-commerce experience
Further Information: https://www.localenterprise.ie/Discover-Business-Supports/Trading-Online-Voucher-Scheme-/