New Government Schemes to Help Businesses Affected by Covid-19.

Guaranteed Irish welcomes new Government schemes to support tourism and hospitality sector in Ireland weather the effects of Covid-19.

On 1 February, Fáilte Ireland announced details of its new €55 million Tourism Business Continuity Scheme. The plan will help support the survival of business in the short term and assist in the recovery of the sector in the long-term. The scheme will support those tourism businesses that were not eligible for the Covid-19 Restrictions Support Scheme (CRSS) payment or any previous Fáilte Ireland continuity grant schemes. Applications for the new scheme open 11th February 2021 to businesses who meet the eligibility criteria, which we have listed below. Full details on Phase 1 of this scheme will be released by Fáilte Ireland later 11th February.

Eligible businesses include:

  • Outdoor activity
  • Golf courses with a tourism offering
  • Tourist boat tour operators
  • Hop on Hop off Bus tours with onboard tourism experiences
  • Visitor attractions not eligible for CRSS
  • Caravan and camping providers registered with Fáilte Ireland
  • Cruise Hire companies

To qualify for the scheme, a business must have:

Minimum Grant is €3,750 and the max is €200,000.

The Government has also announced another 3 new business supports to help companies in Ireland weather the effects of Covid-19.

These schemes are currently being developed and more details will follow once the specific mechanics of the schemes are available.

COVID-19 Products Scheme

Firms researching or manufacturing PPE, sanitisers, tests, equipment, or other medical products which are relevant to COVID-19 are eligible for funding of up to 50% of their capital costs. There is a €10M fund being allocated to support this initiative.

COVID-19 Business Aid Scheme (CBAS)

This will provide grants to businesses ineligible for the government’s other existing schemes designed to help with fixed costs. Wholesalers, suppliers, caterers, and events companies down 75% or more in turnover will benefit. There is a €60M fund being allocated to support this initiative.

Sustaining Enterprise Fund

Under this scheme funding of up to €800,000, with €200,000 or 50% in non-repayable grants to eligible manufacturing and internationally traded services companies. There is a €90M fund being allocated to support this initiative.

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