New SME Supports Will Help Firms to Survive & Recover... and Save Jobs

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By no author02 May 2020

Dublin Chamber has welcomed the announcement today (Saturday) by Government of new measures aimed at supporting SMEs that have been negatively impacted by the Covid-19 pandemic.
 
The Chamber, which represents businesses throughout the Greater Dublin Region, said the supports will help many firms to survive and recover from the pandemic - and, crucially, save jobs.
 
The two announcements made by Government over the past 24 hours have helped to provide significant clarity for the business community.
 
According to Dublin Chamber CEO Mary Rose Burke: "The publication today of new supports for businesses, combined with the delivery of the five phase Roadmap for Reopening, means firms now have sight of a timeline for recovery and access to a suite of supports that will help them to get back up and running. We have been listening closely to our members over the past six weeks and feeding details back to Government regarding the help and supports that they require to get through this hugely difficult period. For many businesses, the road to recovery will be long. Therefore, the addition of fresh State help is very welcome."
 
Dublin Chamber said that the Government supports announced so far have proved very beneficial to firms – and vital in maintaining the flow of cash within the economy. A survey carried out by Dublin Chamber last week amongst 250 companies found that more than half of companies are availing of the State supports that are in place, including the Temporary Wage Subsidy Scheme and Commercial Rates forbearance.
 
The Chamber said its research has identified that cashflow and reduced revenues are the two most pressing issues being faced by businesses currently. Indeed, around 1 in 3 firms surveyed by Dublin Chamber noted that they have less than 3 months of cash reserves remaining.
 
Ms Burke added: "The Covid-19 crisis is far from over. But the two announcements over the past 24 hours, and the tone of the Taoiseach’s comments on Friday evening, offer grounds for cautious optimism regarding a slow return to business as usual. It remains incumbent on all stakeholders in society, including citizens and businesses, to continue to adhere to the guidelines that are in place. The business community remains committed to playing in its part in the continued fight against the spread of Covid-19. Central to any re-opening will be the continued deployment of, and adherence to, social distancing and hygiene practices such as hand-washing."
 
"We all want to get back to some kind of normal as soon as possible. But the gravity of the Covid-19 pandemic requires that everyone continues to play their part to ensure there is no unnecessary back-stepping required in the national response. As the representative body for businesses in the Dublin region, we will continue to engage proactively with both our member companies and with the relevant Government departments to ensure that the needs of the business community are understood and to allow firms to play their part in the recovery from Covid-19," said Ms Burke.