Government measures to assist businesses during COVID-19

The Government has announced a range of assistances for businesses as the Covid-19 crisis escalates and is expected to have a detrimental effect on businesses throughout the country.

Richie Walsh, Head of Enterprise at Local Enterprise Office Waterford said “The country is facing an unprecedented period of uncertainty and disruption.  While the health and safety of our loved ones will always be a priority, keeping businesses afloat and the economy stable is equally important.”

“A wide range of measures has been made available from the Government and in addition, Local Enterprise Office Waterford would encourage any business experiencing difficulties due to the Covid-19 pandemic to talk to us about accessing these supports.”

The maximum loan available from MicroFinance Ireland will be increased from €25,000 to €50,000 as an immediate measure to specifically deal with exceptional circumstances that micro-enterprises (sole traders and firms with up to 9 employees) are facing.

Firms that need to reduce hours or days worked can avail of the Department of Employment Affairs and Social Protection Short Term Work Support by contacting their local Intreo Office.

In addition, Local Enterprise Offices in every county will be providing vouchers from €2,500 up to €10,000 (with 50:50 match funding) to support business continuity preparedness, innovation and productivity. Enterprise Ireland with the Local Enterprise Offices will activate advisory clinics and mentoring support for impacted firms. In addition, Enterprise Ireland with the Local Enterprise Offices will activate advisory clinics and mentoring support for impacted firms.

“I would encourage any small business to take advantage of the portfolio of supports that are available from Local Enterprise Offices or Enterprise Ireland.  There is sure to be doubt and uncertainty surrounding issues such as cashflow and access to finance, as much as there is uncertainty surrounding supply chain management and personnel.”

“The objective of these measures is to give Irish businesses, regardless of their scale or sector, the means to mitigate job losses and financial difficulties.”

“And perhaps even more importantly, if you run a small business and you are concerned about something and you are not sure who to talk to, please pick up the phone and ring the LEO office at 0761-102905 or e-mail info@leo.waterfordcouncil.ie. We may not have all the answers but we will try our best to help you and to steer you towards the best possible solution.”

 

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