New Covid-19 Business Aid Scheme launched

A new scheme called the COVID-19 Business Aid Scheme (CBAS) has just been launched and it is aimed at firms who to date have not been eligible for the COVID-19 Restrictions Support Scheme (CRSS). Businesses can apply for this grant online, full details on this grant are expected to be published shortly.

You can claim the CBAS if you are a business that has not shut your premises completely to the public but you have been affected negatively by COVID-19 and your turnover is down by at least 75%. So, for example, if you are a caterer or wholesaler who supplies to restaurants and you are still open but in a very limited way you should qualify for a grant of €8,000.

Provisional criteria for COVID-19 Business Aid Scheme (CBAS)

• the scheme would be available to companies, self-employed, sole traders or partnerships, with a minimum turnover of €50,000
• are not owned and operated by a public body
• the business is not eligible for CRSS or Fáilte Ireland Business Continuity Scheme
• they are in receipt of a rates bill from their local authority for 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 eTax Clearance Certificate from the Revenue Commissioners
• the turnover of the business over the claim period is estimated to be no more than 25% of the:
• average weekly turnover of the business in 2019
• the business intends to resume trading in full once government restrictions are eased.

 Link to Government announcement is here.