Restart Grants in Fingal top €5m mark
Restart Grant payments to Fingal businesses from Fingal County Council have now topped over €5m with 982 businesses approved for grants ranging from €2,000 to €10,000.
The Restart Grant is part of the Council’s commitment to supporting the local economy and assisting businesses trying to recover from the difficult COVID-19 period.
The Council’s Economic Enterprise and Tourism Department has worked closely with local Chambers of Commerce and national agencies since the COVID-19 crisis commenced in early March to provide much-needed assistance to businesses and recently launched another major support initiative, the Fingal In It Together Charter.
Since the Restart Grant Scheme commenced on May 22, funding totalling over €5m has been awarded to 982 micro and small local businesses. The purpose of the Scheme is to help local businesses with the costs associated with either staying open or re-opening and re-employing workers following COVID-19.
A total of 1,547 businesses have already completed online applications under the Scheme and Council staff are continuing to accept, validate, process and approve applications.
The closing date for the Scheme is August 31 and businesses in Fingal, which fulfill the criteria, are encouraged to apply for a grant. Applications can be submitted at https://submit.link/E5RPF and details of the scheme are also available on the Fingal County Council website, www.fingal.ie/business. The Grant will be equivalent to the rates bill of the business in 2019, with a minimum payment of €2,000 and a maximum payment of €10,000.
The Deputy Mayor of Fingal, Cllr Robert O’Donoghue, said: “The Restart Grant has helped many small businesses across Fingal to get up and running at what is a difficult and challenging time. Employees in many small businesses across Fingal are now back at work thanks to the Restart Grant.”
Cllr Tony Murphy, Chair of the Economic Enterprise and Tourism Strategic Policy Committee said: “Fingal businesses need all the support they can get as they work to restart their businesses and continue to rebuild Fingal’s local economy. It is very encouraging that so many businesses have already availed of the Scheme and shows the determination of our entrepreneurs to succeed.”
The Chief Executive of Fingal County Council, AnnMarie Farrelly said: “I am really pleased that so many of our businesses have reopened and were helped in doing so by the Restart Grant. The application process is straightforward, and funds are paid quickly. All businesses that have suffered a loss in trade or who have closed should check their eligibility and make an application.”
Fingal County Council’s Director of Economic Enterprise and Tourism Development, Emer O’Gorman, said: “The Restart Grant is designed to alleviate the pressure on businesses and our business community have seen it as a very positive initiative. I would urge any business who has not yet applied for the grant to do so before the closing date of August 31.”
To avail of the Restart Grant:
- A business must have a turnover of less than €5m and have 50 or less employees.
- The business must have suffered a projected 25%+ loss in revenue from 1st April 2020 to 30th June 2020.
- The business 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).
- Businesses should retain supporting documentation as spot-checks may be carried out to verify a declaration to this effect.
The grant is a contribution towards the cost of re-opening or keeping a business operational and re-connecting with employees and customers. The grant can be used to defray ongoing fixed costs, e.g. utilities, insurance, refurbishment or for measures to ensure employee and customer safety.
This direct grant support is part of the wider €12bn package of Government supports for firms of all sizes, which includes grants, low-cost loans, write-off of commercial rates and deferred tax liabilities, all of which will help to improve cashflow amongst SMEs.