Governmental Tax and Financial Schemes for Impacted Businesses during COVID-19

Further Supports

A range of further supports and future facing investments were announced as part of the July Stimulus Package including the following:

  • Sustaining Enterprise Fund: Expansion of the €180m scheme to include grant support to viable businesses, in addition to equity and repay able loans. Specific detail of the grant element is awaited. See key features of the fund here
  • Online Retail Scheme: Additional funding is being made available through Enterprise Ireland and the Local Enterprise Office to support retailers develop and enhance their online trading capabilities
  • Adapting to Green Economy: €10m will be provided to support all businesses engaging in green research, development and innovation, capital investment, and capacity building, through the first phase of a new Green Enterprise Fund
  • SME Brexit Fund of €20m will be provided to SMEs involved in exporting and importing with the UK to acquire staff, software and IT systems to adapt to the new relationship with the UK from January 2021
  • Enterprise Ireland’s existing fund of €55m for investment in the Seed and Venture Capital Sector will be topped up by €10m
  • Employment Wage Support Scheme will run in parallel and replace the Temporary Wage Subsidy Scheme from 1 September, continuing until April 2021. Businesses that have seen a 30% reduction in turnover will receive a flat rate of €203 per week per employee. New and seasonal employees will be eligible for the scheme.
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