On the 27th October 2022, the government announced details of the new €200m Ukraine Enterprise Crisis Scheme. This Scheme provides funding to assist viable but vulnerable companies of all sizes in the manufacturing and internationally traded services sectors.
The Scheme offers two streams of support:
Stream 1 – Liquidity Needs
Stream 1 is a liquidity measure that will help viable manufacturing and Internationally Traded Services companies experiencing trading difficulties to access funding up to €500,000. 50% of this funding is provided on a non-repayable basis. The minimum aid award of €20,000 will not have a repayable advance associated with it and will be in the form of a grant.
To qualify for funding, companies must demonstrate a 15% reduction in profitability (EBITDA) between 2021 and this year, as a direct or indirect result of the crisis resulting from the war in Ukraine.
Stream 2 - Support for Energy intensive companies
Stream 2 is a state aid support for eligible “energy intensive” businesses who are experiencing severe increases in energy costs in 2022. Energy intensive businesses are businesses where at least 3% of turnover in 2021 was expended on energy costs.
To qualify for funding, companies must demonstrate that their unit energy costs at least doubled in 2022, compared to 2021, and that they have seen a 15% decrease in profitability (EBITDA). In such cases, a 30% contribution will apply to any unit energy charges in 2022 that more than double the 2021 cost.
Further details on the overall Scheme (Stream 1 & 2) can be accessed HERE.
How to apply
To see if the scheme is suitable for you and to request an application pack, contact The Hub at Enterprise Ireland via the ENQUIRY FORM
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