Small firms welcome Government’s additional COVID-19 economic measures


Commenting on the Government’s Reopening Roadmap and the further package of economic measures announced today, Sven Spollen-Behrens, Director of the Small Firms Association (SFA) said: “The Reopening Roadmap and the further economic packages are important steps towards a phased return to social activities and will assist small business to survive this difficult time and reopen over the coming months.

“The Government has listened to the feedback we have provided and responded to the needs of small business owners across the country. These new measures include grants, low-cost loans, write-off of commercial rates and deferred tax liabilities for micro and small businesses.

“The €2 billion COVID-19 Credit Guarantee Scheme to support lending to SMEs for terms ranging from 3 months to 6 years, which will be below market interest rates, means there is a greater chance of credit flowing to viable small businesses that need it.

“The commitment to local authorities to make up the rates shortfall, so that local authorities can continue to provide full services to the public is welcomed, as it will ensure that our town and city centres remain attractive to consumers.

“These are hugely worrying times for small businesses, and for many this is going to be a difficult period for much of the year and beyond. The Reopening Roadmap and further economic measures provide the certainty needed by small business to wait for this health crisis to pass and to thrive on the other side” concluded Spollen-Behrens.