Covid-19 (Coronavirus) - Client Update - 16th March 2020

16th March 2020

As we face unprecedented global challenges associated with COVID-19 (Coronavirus), I want to update you in relation to Enterprise Ireland’s activity, working arrangements and our work with Government to support your business.

Enterprise Ireland’s existing financial, operational and advisory supports remain available to our clients and our department, the Department of Business, Enterprise and Innovation, is currently finalising a package of supports announced by Minister Humphreys last week. The key elements include a €200m Strategic Banking Corporation of Ireland (SBCI) COVID-19 Working Capital Scheme and a €200m package for enterprise supports including a Rescue and Restructuring Scheme for viable but vulnerable businesses that need to restructure or transform their businesses. We will be in contact with you once the detail of the funds becomes available.

Other supports announced by Government include a Credit Guarantee Scheme, Short Time Work Support, Revenue cashflow supports, Job seekers emergency payment and increased lending by Microfinance Ireland. Further information on these supports, and our new Business Response Plan, is available on our website www.enterprise-ireland.com/businessresponse

My strong advice to all clients at this time therefore is to put contingency plans in place now, including an assessment of your contingency funding requirements, and to progress applications for the funding instruments available from your banks and through the SBCI. For clients who require financial planning assistance, a ‘Finance in Focus’ grant of up to €7,200 is available.

The health and safety of our clients, global partners and staff is paramount and we have taken steps to ensure continuity of business during this challenging period. Our remote working plan, currently in operation, will ensure that we continue to provide services to clients across our offices and overseas network. Our teams, at home and abroad, remain fully contactable to support business needs across the world. We are also rescheduling several upcoming events and will keep you advised.

Should you have further queries, you can contact your Development Adviser or our Client Response Team at GA-BSF@enterprise-ireland.com

We will continue to monitor developments relating to COVID-19 (Coronavirus) and will continue to communicate with you in relation to supporting your business during this period.

Regards,
Julie Sinnamon
CEO, Enterprise Ireland

Click here for Covid-19 (Coronavirus) - Client Update - 12th March 2020