Galway East TD and Minister for Rural Affairs Seán Canney has said more than €1 billion in new measures supporting small and medium enterprises are vital to sustain business activity and to position Ireland to be recovery-ready post the COVID-19 crisis.
Minister Canney welcomed the Government’s major expansion of business supports, including €1 billion in liquidity measures available for SMEs and the launch of a €180 million Sustaining Enterprise Fund.
Other measures, including those aimed at helping SMEs going online or developing their online capacity have also been announced by the Department of Business, Enterprise and Innovation.
Minister Canney said: “I would urge all small and medium business owners to inform themselves of the expansion of these schemes and supports to ensure that they avail of them.
“Business continuity will be key to sustaining jobs and economic activity so that Ireland can recover from this crisis as quickly as possible.”
The schemes include a €250 million expansion of the the Working Capital Loan Scheme run by the Strategic Banking Corporation of Ireland, an additional €200 million in COVID-19 funding for the Future Growth Loan Scheme, a new €2,500 Business Continuity Voucher available through Local Enterprise Offices (LEOs) and an additional €30 million for microenterprises to further support initiatives such as the €2,500 Trading Online Voucher Scheme.
The Sustaining Enterprise Fund of up to €180 million will offer a repayable advance of up to €800,000 for eligible companies.
Minister Canney said he was pleased that supports such as the Future Growth Loan Scheme would help provide additional working capital for SMEs in the agri-food sector.
He added: “Investment support for primary producers and food businesses would be essential as the sector is currently demonstrating its crucial role in providing high quality food for everyone’s consumption.”
Further information on the business supports schemes is available at the Department of Business, Enterprise and Innovation website www.dbei.ie

For more information, contact Minister Canney on 086-2513639
April 10 2020