Covid-19 Update on Business Supports from Local Enterprise Office, Microfinance Ireland and Strategic Banking Corporation

Funding Supports - What's available from State Organisations and Banking Sector

Covid 19 Supports, including

• Local Enterprise Office Supports: Business Continuity Voucher
• Trading Online Voucher
• Microfinance Ireland Covid 19 Business Loan (€20m available ) via LEO
• Enterprise Ireland Business Financial Planning Grant
• Enterprise Ireland Lean Business Continuity Voucher
• Enterprise Ireland Online Retail Scheme
• Enterprise Ireland Sustaining Enterprise Fund (€180m ) Rescue & Restructuring Scheme (€200m)
• SBCI Working Capital Loan (€450m available)
• SBCI Future Growth Finance Loan (€200m available
• SBCI Credit Guarantee Scheme

Working Capital - Effective Cashflow Forecasting

• Do we plan scenarios to cater for a range of risks?
• Does liquidity at times constrain strategy execution
• Do we have a cash flow or liquid reserves policy
• How well does my organisation’s cash generation compare to others in the sector?
• Does management have a clear understanding of the organisation’s working capital structure
• Does the quantity of data from the ERP system overwhelm our ability to structure it in a way that could support a model?
• What are the key drivers of cash flow in the business; where can we source the required data to support the forecast?
• Do we have the expertise and capacity to create and maintain a cash flow model?

Wage Subsidy Supports

• The Temporary Wage Subsidy Scheme (TWSS) is a scheme introduced to assist employees, who are retained on their employers payroll to receive significant supports through the payroll system.
• The subsidy is expected to be topped up unless an employer is not in a position to do so.
• Initial scheme duration is 12 weeks from 26 March.
• Employers make this special payment to their employees via their normal payroll process.
• Employers are then reimbursed by Revenue, in general, within 2 days of receipt of the payroll submission.