€160 million in measures to support businesses during pandemic

The government has today announced measures of €160 million in total to support businesses during the Covid-19 pandemic.

The news has been welcomed by Mayo Fine Gael TDs Michael Ring and Alan Dillon.

Deputy Michael Ring stated: “Firms researching or manufacturing PPE, sanitisers, tests, equipment or other medicinal products which are relevant to Covid-19 are eligible for funding of up to 50% of their capital costs.

"A new €60 million Scheme, called the Covid-19 Business Aid Scheme (CBAS) is being developed to provide grants to businesses ineligible for the Government’s other existing schemes designed to help with fixed costs.

"Wholesalers, suppliers, caterers and events companies down 75% or more in turnover will benefit”.

Deputy Dillon stated: “There is a number of businesses around Mayo from laundry providers to the hospitality sector, audio visual engineering services, and other service-related companies having difficulties accessing supports available to other businesses.

"Thankfully, the new funding for Covid Business Grants should provide a vital lifeline to businesses that had fallen outside the eligibility of schemes already in place.

"The €60million COVID-19 Business Aid Scheme (CBAS) is being developed to provide grants to businesses ineligible for the government’s other existing schemes designed to help with fixed costs.

“The new COVID-19 Business Aid Scheme will help some businesses that aren’t eligible for existing grants, largely due to the fact that the premises they operate from have not been closed to the public.

"It is estimated that this will help approximately 7,500 businesses nationally. While the grant will be modest, it will be of substantial assistance to smaller businesses with some of their fixed costs like rent, utilities and security.

"For example, wholesalers, suppliers, caterers, office-based businesses and events companies down 75% or more in turnover will qualify.

"The Department of Enterprise, Trade and Employment are finalising the details of the CBAS and it will be open for applications shortly.

"An additional €10m will be allocated to the Covid-19 Products Scheme to help in the fight against the virus.

"Firms researching or manufacturing PPE, sanitisers, tests, equipment or other medicinal products which are relevant to Covid-19 are eligible for funding of up to 50% of their capital costs.

"There is also huge demand for the Sustaining Enterprise Fund, supporting our manufacturers and exporters which have experienced a drop in orders.

"The scheme has protected 22,000 jobs all across the country to date and this €90 million will secure many more.”