LIMERICK has paid out the highest amount of money in the country as part of the ReStart Grant which aims to help businesses reopen and re-employ workers following the Covid-19 closures.
So far, 1,032 grants have been processed with €4.46 million in payments going direct to Limerick businesses. Average payments are €4,510 per business with Limerick having paid out the highest amount of money in the country.
With Limerick City and County Council estimating that only 30 per cent of the businesses eligible for the ReStart Grant have actually applied, Mayor of Limerick City and County, Cllr Michael Collins is urging more businesses to apply.
The Mayor is urging micro and small business owners to look at applying for the ReStart Grant to help affray costs due to the Covid-19 pandemic.
The grant scheme amounts to direct grant aid of between a minimum of €2,000 to €10,000, based on commercial rates bill from 2019.
The grant, administered by Limerick City and County Council is to help businesses with the costs associated with reopening and re-employing workers following the Covid-19 closures.
The Mayor noted as a small business owner himself he understood “the worry and confusion brought about by Covid-19”.
“Some futures are uncertain and it is difficult to live with the ‘not knowing’,” he said, but noted the ReStart Grant “will help allay some of the costs associated with re-opening or keeping a business operational and re-connecting with employees and customers”.
“The grant could be used to defray ongoing fixed costs, e.g. utilities, insurance, refurbishment or for measures to ensure employee and customer safety,” said Mayor Collins.
The grant is available to businesses with a turnover of less than €5m and employing 50 people or fewer, which were closed or impacted by at least a 25 per cent reduction in turnover out to 30 June 2020.
The business must have suffered a projected 25 per cent + loss in revenue from April 1 to June 30, 2020, and must commit to remain open or to reopen if it was closed.
The business must also declare the intention to retain employees that are benefitting from the Temporary Wage Subsidy Scheme (TWSS).
The government has indicated that spot checks may be carried out so is advising businesses to retain supporting documentation to verify any declaration.
Sean Coughlan, Deputy Chief Executive and Head of Finance with Limerick City and County Council said, “We want as many businesses as possible to re-open and thrive post-Covid-19 restrictions, and this grant will help firms on the road to doing this. ReStart is one of a suite of measures being offered by Limerick City and County Council and Local Enterprise Office Limerick to support businesses.”
Mr Coughlan said their records show only “around third of all businesses in the micro and small business categories” have applied for the ReStart Grant and he would “encourage the rest to log on to limerick.ie/business and fill out the application form”.
To apply for the ReStart Grant Scheme, click here.