Business Support for Covid 19
DBEI is now operating a Business Support Call Centre to advise on the Government supports available to businesses and enterprises that are affected by COVID-19. The Call Centre can be contacted at 00 353 1 631 2002.
The Department has updated the Business Continuity Planning Checklist COVID-19 which identifies some of the key risks to the continuity of your business activities during the outbreak of COVID-19 and of preparatory actions that can be taken to respond.
In addition, on the COVID-19 Supports page on the Department’s website there are numerous links to vital information, supports available and advice to business on dealing with COVID-19. This advice is from official and trusted sources such as the Health Service Executive (HSE) and Departments of Health, Employment Affairs and Social Protection (DEASP) and Foreign Affairs and Trade (DFAT) as well as WHO, the Health Protection Surveillance Centre and the Health and Safety Authority (HSA).
You will find guidance for the business and retail sector, guidance for workers dealing with the public, information for employers and employees, on home working and on employment supports and payments. It is important that the advice and guidance you take is from official sources and you will also find all information regarding COVID-19 on the Government website, www.gov.ie.
- The Government has recently announced a range of supports for business, many of which are administered through my Department and our Agencies and Offices. These can also be viewed on the COVID-19 Supports page and include:
- A €200m Strategic Banking Corporation of Ireland (SBCI) Working Capital scheme for eligible businesses impacted by COVID-19. Loans of up to €1.5m will be available at reduced rates, with up to the first €500,000 unsecured. Applications can be made through the SBCI website
- A €200m Package for Enterprise Supports including a Rescue and Restructuring Scheme available through Enterprise Ireland for vulnerable but viable firms that need to restructure or transform their business.
- The maximum loan available from MicroFinance Ireland will be increased from €25,000 to €50,000 as an immediate measure to specifically deal with exceptional circumstances that micro-enterprises – (sole traders and firms with up to nine employees) – are facing. Applications can be made through the MFI website or through your local LEO.
- The Credit Guarantee Scheme will be available to COVID-19 impacted firms through the Pillar Banks. Loans of up to €1m will be available at terms of up to seven years.
In addition, the following supports are available for firms experiencing trading difficulties and short-term shocks:
- The Department of Employment Affairs and Social Protection and DBEI will provide a joint First Responder support service through the Intreo Offices and development agencies, Enterprise Ireland and IDA Ireland in each region to provide tailored supports for impacted firms, with the objective of avoiding mass lay-offs and buying time for firms to work through the short-term disruptions.
- Firms that need to reduce hours or days worked can avail of the DEASP Short Term Work Support by contacting their local Intreo Office, see Short Time Work Support
- The full range of Enterprise Ireland, IDA Ireland, Local Enterprise Office and Údarás na Gaeltachta grant supports will be available to firms to help with strategies to innovate, diversify markets and supply chains and to improve competitiveness.
Local Enterprise Offices can provide vouchers to businesses to assist in preparing in the event of any business continuity issues arising.
A Finance in Focus grant of €7,200 will be available to Enterprise Ireland and Údarás na Gaeltachta clients who want to access consultancy support to undertake immediate finance reviews.
The Registrar of Companies has also decided that all annual returns due to be filed by companies between now and 30th June, 2020 will be deemed to have been filed on time if all elements of the annual return are completed and filed by that date. This will enable businesses and their financial advisers to focus on the more pressing and immediate financial challenges. The situation will be kept under review and the date of 30th June may be extended depending on the situation at that time. Companies should check the CRO website www.cro.ie for more details.
I recently met with the pillar banks, who assured me that they would support businesses and show flexibility through the outbreak. I was therefore very pleased at the recent announcement by my Government colleague and Minister for Finance, Paschal Donohoe regarding a number of actions that will be taken by the five retail banks following his own discussions with them.
The measures include extensive supports for SME customers with the banks working to ensure that simplified access to a wide range of credit, cash flow and supply chain supports will be offered to businesses. This also includes deferrals of up to 3-months on loan repayments. The banks are adopting a customer-focused approach to businesses with a wide variety of tailored supports including extensions of credit lines, risk guarantees, and trade finance. These actions will build on the Government’s already robust response and will deliver real support to SMEs and companies at this time.
The Government has also published a National Action Plan in Response to COVID-19 (Coronavirus) and this can be found at www.gov.ie/covid19.
The following are links to useful information during these unprecedented times:
Fáilte Ireland
Currently Fáilte Ireland is working with the Department of Transport, Tourism and Sport to put in place a package of supports for the industry. Fáilte Ireland has created a new page on their website to provide industry advice on Covid 19 at this link https://www.failteireland.ie/Utility/Covid-19.aspx .
Fáilte Ireland have created a Industry FAQ’s document you can download it here.
For detailed instructions on operational guidelines within the industry click here.
There will be weekly bulletins on consumer sentiment and behaviour, industry insights, and the international impact of COVID-19. This information will be collated from our ongoing engagement with the COVID-19 Tourism Industry Advisory Group and uploaded here every Tuesday. Click here
HSE Guidelines
We urge all businesses to read the guidelines and information set out by the HSE on how you can protect yourself and others. Click Here
MicroFinance Ireland
MicroFinance Ireland loans are being promoted as a key support for micro-enterprises. Important changes are being made to the MicroFinance Ireland supports for microenterprises. The maximum loan available from MicroFinance Ireland will be increased from €25,000 to €50,000 as an immediate measure to specifically deal with the impacts of COVID – 19 on micro-enterprises (sole traders and firms with up to 10 employees). Applications can be made through the MFI website https://microfinanceireland.ie/ or through the local LEO. Loans are repayable over 3 years.
The Department of Business, Enterprise and Innovation
The Department of Business, Enterprise and Innovation announced a number of supports for businesses facing challenges being presented by the current Covid-19 situation. The Credit Guarantee Scheme is in place and available now to SMEs subject to the relevant terms and conditions. Separately the SBCI is currently working to finalise the terms and conditions of the SBCI COVID19 Working Capital Scheme and the eligibility application process for this. The SBCI website will be updated as soon as these are finalised. Click here
Department of Employment Affairs and Social Protection
If you are self-employed and your business has reduced significantly or closed, you can apply for Jobseeker’s Benefit (Self-Employed).
Get all the details on how you can apply for Jobseeker’s Payments here:
Tipperary County Council
Tipperary County Council have this area of the website is dedicated to communication on the Covid19 Virus and the impact it may have on Council Services.
Please check back often to this page for further updates as they emerge.