Businesses across Galway are currently in uncharted waters due to the ongoing Covid-19 pandemic.

Many are facing critical challenges following lenghty lockdowns and temporary ceasing of trading, cash flow and financial difficulties, critical staff continuity options and an uncertain future.

Local Enterprise Office Galway is available to support local businesses in addressing these challenges and help ensure they’re in the strongest possible position possible in the face of this unprecedented and continuously evolving crisis.

The first step for businesses experiencing cash flow difficulties should always be to open communication with your bank.

All banks have announced they will offer flexibility to customers experiencing difficulties as a result of the Covid-19 outbreak and may be able to provide loan payment holidays or emergency working capital facilities.

Additional cash flow supports can be accessed through Local Enterprise Office Galway:

• Changes have been made to the MicroFinance Ireland loans available through LEO Galway. 
• The Credit Guarantee Scheme is a Government supported product from the banks for small and medium enterprises, providing an 80% guarantee to participating banks. Businesses can apply for loans of up to €1m for terms of up to 7 years from AIB, Bank of Ireland or Ulster Bank. 
• Various enterprise supports available through Enterprise Ireland.
• A Finance in Focus grant of €7,200 will is also available to Enterprise Ireland and Údarás na Gaeltachta clients, to enable them to access consultancy support to undertake immediate finance reviews.
• Fáilte Ireland Covid – 19 Adaption Fund: Supporting tourism and hospitality businesses who have incurred adaptation costs in order to re-open safely. Available grants up to €15,000 open for applications until 8 October 2020. Find details here.
• Enterprise Support Grant: Covid-19 support for micro enterprises. Restart grant of up to €1000 for those not liable for commercial rates. See here for more information.
• Restart Grant Plus: Extra support is being provided for enterprises that could not access the original grant scheme, including rateable sports businesses and trading charity shops. Non-rated B&Bs will be eligible for a grant payment of €4,000. For more information on the newly revised scheme click here.
• COVID-19 Pandemic Unemployment Payment has also been introduced for the self-employed who have lost business, or those who have been laid off as a result of the pandemic. Those eligible will be entitled to a six-week flat payment of €203 without having to attend an INTREO office.

• The Micro-Enterprise Assistance Fund  - Assistance grant valued up to € 1,000. For Micro-Enterprises who are not eligible for the COVID-19 Restart/Restart Plus Grant or similar COVID-19 business restart grants (Further Eligibility Criteria Apply). Further details can be found here. 

The team at Local Enterprise Office Galway is here to assist local businesses with any queries they may have regarding COVID supports.

Experts are available to assist with all queries at 091 509090, or through email at info@leo.galwaycoco.ie.

Please click here for further details on Government supports for COVID-19 impacted businesses