News Archive
EMPLOYER JOB (PRSI) INCENTIVE SCHEME ANNOUNCED
The Employer Job (PRSI) Incentive Scheme was introduced in 2010 to support job creation, and counter the drift of people into long-term unemployment and welfare dependency by exempting employers from liability to pay their share of PRSI contributions – 8.5% or 10.75% of gross pay for 12 months. This scheme is open to an employer who creates a new and additional job in 2010 which meets the scheme criteria. If you created a job in 2010 before the scheme was launched in June 2010, you may benefit from an employer’s PRSI exemption for this job for 12 months from the date you are approved for the scheme. Go to http://www.welfare.ie for more information.
AIB LAUNCHES SCHEME TO SUPPORT SMALL BUSINESSES RECOVERY
AIB has announced details of a new ‘AIB Small Business Recovery Scheme’ that is specifically targeted at its small business customers, including sole traders, partnerships, limited companies and farming enterprises.
The scheme, with a fund of €500m, will achieve this by restructuring existing AIB borrowings and providing additional working capital to meet their business needs.
The key features of the AIB Small Business Recovery Scheme are:
- Small business customers with existing branch based current and loan commitments can be ‘restructured’ into a single recovery loan
- This ‘restructured debt’ will be offered by way of a recovery loan over an agreed term with an interest only option for up to the first two years and (if required),
- Additional working capital facilities.
This restructuring along with the provision of additional working capital aims to ease cash flow pressures for micro/small businesses that are currently experiencing trading difficulties, who may have had difficulty in accessing credit in the past, but have good prospects of recovery and are viable in the longer term.
Credit facilities can be provided on the basis that the small business can demonstrate its ability to trade through the current challenges and recover within a reasonable timeframe e.g. two year period. Small business customers applying to this scheme will be required to complete a viability plan and provide certain information to AIB to enable it to make an assessment and credit decision.
EMPLOYER JOB (PRSI) INCENTIVE SCHEME ANNOUNCED
The Employer Job (PRSI) Incentive Scheme was introduced in 2010 to support job creation, and counter the drift of people into long-term unemployment and welfare dependency by exempting employers from liability to pay their share of PRSI contributions – 8.5% or 10.75% of gross pay for 12 months. This scheme is open to an employer who creates a new and additional job in 2010 which meets the scheme criteria. If you created a job in 2010 before the scheme was launched in June 2010, you may benefit from an employer’s PRSI exemption for this job for 12 months from the date you are approved for the scheme. Go to http://www.welfare.ie for more information.
AIB LAUNCHES SCHEME TO SUPPORT SMALL BUSINESSES RECOVERY
AIB has announced details of a new ‘AIB Small Business Recovery Scheme’ that is specifically targeted at its small business customers, including sole traders, partnerships, limited companies and farming enterprises.
The scheme, with a fund of €500m, will achieve this by restructuring existing AIB borrowings and providing additional working capital to meet their business needs.
The key features of the AIB Small Business Recovery Scheme are:
- Small business customers with existing branch based current and loan commitments can be ‘restructured’ into a single recovery loan
- This ‘restructured debt’ will be offered by way of a recovery loan over an agreed term with an interest only option for up to the first two years and (if required),
- Additional working capital facilities.
This restructuring along with the provision of additional working capital aims to ease cash flow pressures for micro/small businesses that are currently experiencing trading difficulties, who may have had difficulty in accessing credit in the past, but have good prospects of recovery and are viable in the longer term.
Credit facilities can be provided on the basis that the small business can demonstrate its ability to trade through the current challenges and recover within a reasonable timeframe e.g. two year period. Small business customers applying to this scheme will be required to complete a viability plan and provide certain information to AIB to enable it to make an assessment and credit decision.
