Cork businesses are being urged to apply for the Restart Grant Plus as an additional €300 million in funding has been announced to support businesses to deal with the fallout from Covid-19.
The maximum grant available is €25,000, up from €10,000, and the minimum is €4,000, which has doubled from the initial €2,000.
Firms that accessed the Restart Grant will be eligible for a top-up payment to a total combined value of the revised minimum and maximum grant levels.
The criteria for accessing the scheme will include businesses with 250 or less employees, who have had turnover reduced by 25% due to Covid-19, have an existing rate account with the council and have a turnover of less than €100,000 per employee up to a maximum of €25 million.
Businesses must also intend to retain employees that are on the Temporary Wage Subsidy Scheme, and commit to remain open or to reopen if it was closed.
The scheme will help businesses in Cork reopen and will help local people get back to work, according to Cork North Central TD Colm Burke.
“The Restart Grant Plus is a key part of the government’s July Stimulus package, a €7.4bn package of measures designed to stimulate a jobs-led recovery and build economic confidence while continuing to manage the impact of Covid-19,” he said.
“More Cork businesses could now find themselves eligible for this grant than before, and key businesses that received a grant under the first scheme can re-apply to receive additional funding.
“Non-rateable B&Bs, sports clubs with commercial activities and trading charity shops are now eligible. Previously only small companies could apply for this grant but now medium sized companies are also eligible,” Deputy Burke added.
“I encourage all Cork companies with up to 250 employees to apply through Cork City Council and Cork County Council.”
Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar said: “We must do everything we can to help businesses reopen and get people back to work.
“Hairdressers, sports clubs, cafes, restaurants and several other businesses can use this money to help with the costs associated with re-opening and adapting to what is a very different environment.”