Business

Restart grant aid to help B&Bs get back on their feet

August 14th, 2020 5:50 PM

By Kieran O'Mahony

Supports have been put in place to help the hard-hit accommodation sector, which includes B&Bs.

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A TOTAL of 384 B&Bs around Cork will now be eligible to benefit from the Restart Grant for Enterprises which will help many get back on their feet.

That’s according to Cork Fine Gael Senator Tim Lombard who said: ‘Up until now the bed and breakfast sector in Cork, which is run by very proud families and individuals, have suffered due to a collapse in the international tourist market.

‘I have been working on this with the Tánaiste and Minister for Enterprise, Trade and Employment Leo Varadkar as we want to support them through this difficult time.’

Sen Lombard confirmed that the Restart Grant for Enterprises is being extended to a broader base of SMEs including B&Bs and expanded by €300m, bringing the total funding of the Restart Grant to €500m since it began.

‘The payment level is being increased up to €25,000 and further payments may be available to firms which have already received them. Some businesses, such as B&Bs, not previously included in the restart grant scheme, will now be eligible.’

Sen Lombard said he knows this will be extremely welcome news for B&B owners all over Cork and puts them on an equal footing with other local enterprises. According to the B&B Owners Association, there are 384 B&Bs across Cork.

‘Also to support our tourism sector, a new Stay and Spend incentive will allow any taxpayer who pays over €625 on accommodation, food and non-alcoholic drinks, between October and April 2021, claim back up to €125 through a tax credit,’ he added.

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