Written answers

Thursday, 9 December 2021

Department of Enterprise, Trade and Employment

Covid-19 Pandemic Supports

Photo of Aindrias MoynihanAindrias Moynihan (Cork North West, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

100. To ask the Minister for Enterprise, Trade and Employment the further and continuing supports that are being considered for SMEs to ensure the viability of these businesses when they reopen and continue trading given the financial difficulties experienced by Covid-19 restrictions; and if he will make a statement on the matter. [60757/21]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Government has worked to ensure that there is a wide range of easily accessed financial assistance for SMEs affected by the changing impacts of COVID-19, these include the COVID-19 Working Capital Scheme, the Brexit Loan Scheme, the COVID-19 Credit Guarantee Scheme and the Future Growth Loan Scheme. For further information, businesses are advised to view my Department’s website at enterprise.gov.ie/en/What-We-Do/Supports-for-SMEs/COVID-19-supports/Government-supports-to-COVID-19-impacted-businesses.html.

In Budget 2022, my Department was allocated €17m in once-off funding for COVID-19 impacted businesses, ensuring that our Enterprise Agencies can continue to fund important projects aimed at fast track expanded production of COVID-19 relevant products, as well as meeting the cost of any claims under the Covid Credit Guarantee Scheme.In addition, some €79m from savings in 2021 will be used to meet commitments on various Covid Schemes arising in 2022 and as a result almost €100m of discrete Covid funding will be available to assist businesses as they emerge from the grip of the pandemic in 2022.

Individual businesses are also advised to contact their Local Enterprise Office (contact details are available on their network website www.localenterprise.ie) who act as a signpost to information on business supports.

On 3rdDecember the Government agreed some additional public health measures to help to reduce the spread of COVID-19 including extra economic supports approved for sectors impacted by public health measures.

We recognise that these decisions, coming in addition to those of 16th November, will have a particular impact on sectors such as hospitality, the night time economy, and the arts and entertainment sectors.

With this in mind, on Friday the Government announced a package of financial interventions for the hospitality, events and entertainment sectors. The package includes:

- a change to the CRSS or EWSS, details of which will be confirmed very shortly by the Minister for Finance

- an extension of the targeted commercial rates waiver at least until the end of March

- an extra €25 million from the Covid contingency fund applied to the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media, in particular to assist the live entertainment, arts and performance sectors.

As the Deputy will be aware, the PUP has also been reopened for workers who lose their jobs or have lost their jobs as a result of the newly announced restrictions.

Details of existing supports can be found on my Department’s website: Government supports for COVID-19 impacted businesses - DETE (enterprise.gov.ie). For further details on the new scheme and the changes to the Pandemic Unemployment Payment please refer to the Department of Finance and the Department of Social Protection.

Government policy remains that there will be no cliff edge to the support. All business supports are being kept under review to ensure that they are timely and target those that need them the most.

The full range of Government supports to business are available on my Department’s website www.enterprise.gov.ie. It is important to note that all business supports are being kept under review to ensure that they are timely and target those that need them the most.

Comments

No comments

Log in or join to post a public comment.