Subsidies And Grants To Beat The Band
Thousands of businesses are having to cope with their second year of punitive travel, events and hospitality trading restrictions, though in fairness to the coalition government the free money tap is still gushing. The current state of play is as follows:
The Employment Wage Subsidy Scheme has been extended to December 31. Current payment rates continue until the end of September and in Q4 the subsidy payable will be tapered.
The Covid-19 Restrictions Support Scheme has been extended until the end of 2021. As firms exit the scheme, they qualify for a restart payment of three weeks at double rate of payment, up to a maximum of €30,000.
Government is promising a new Business Resumption Support Scheme to be rolled out in September. Details have not yet been announced.
The Commercial Rates Waiver applies until the end of September for firms that can prove 75% or more turnover decline in Q2 2021 compared with average weekly turnover in 2019.
The Tax Debt Warehousing scheme continues until the end of 2021, with an interest free period during 2022. Companies will have to start paying back from January 2023.
Under the Small Business Assistance Scheme for Covid-19, which applies to non-rates payers, firms with a minimum turnover of €50k can benefit from a €4,000 grant. There’s a €1,000 grant if annual turnover is €20k to €50k.
The Enterprise Support Grant of €1,000 is available for self-employed people leaving the Pandemic Unemployment Payment, which closed to new applicants on July 1. The PUP rate reduces by €50 from September, with two further €50 cuts on November 16 and 8 February 2022.
At a sectoral level, minister Catherine Martin is disbursing c.€130m in grants to enterprises under various tourismrelated schemes. Wearing her arts and culture hat, the minister also has €14m for music and entertainment business assistance, and €50m for live performance support.
The first €25m of this latter scheme was allocated recently to 237 grantees, ranging from €10,000 for the Ringsend Comedy Festival, €100,000 for a nationwide tour by the Michael English Band, €220,000 for performances on the beach in Bundoran, €400,000 to Pat Moylan to stage the Angela’s Ashes musical in the Olympia Theatre, and €580,000 to Aiken Promotions for Vicar Street gigs to support artists and bands and backroom staff.