Steps for businesses impacted by COVID-19

These 8 steps are for business owners impacted by Covid-19.

This information was produced on 19th May 2020.

The situation is changing every week it is important to keep up to date with information fromĀ gov.ie The Department of Business, Enterprise and Innovation (DBEI), Irish Revenue Commissioners (Revenue) andĀ Citizens Information.

8 Steps.

  1. Do you have a business loan? Contact your financial institution to put a pause on the repayments.
  2. If you can still operate but at a lower level, ensure you have enough working capital in place for the next six months.
  3. If you are required to close your business? Check your business insurance documentation.
  4. Contact your landlord and see if you can pause the rent.
  5. If you had to make the tough decision to let staff go? Are you in a position to bring key personnel back on the wage subsidy scheme?
  6. If you continue to trade, has your business adequate procedures to ensure staff can work safely?
  7. Ensure tax returns are filed on time. If the person who registers these returns is unable to do so, you can use the best estimate. Ensure you contact Revenue if you are experiencing financial difficulties.
  8. Currently, the COVID-19 pandemic unemployment payment is payable for 12 weeks. The amount is available to employees and the self-employed. Further guidance will become available as things develop.

These guiding steps are a starting point for business owners. You should seek professional advice if you have a specific query.

Martin


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