A fund of €14m is available for the new scheme which will make a contribution to costs in businesses in the live entertainment sector that have been significantly negatively affected by COVID-19 restrictions. Businesses that are not eligible for other business supports such as the Covid Restrictions Support Scheme (CRSS) or the Small Business Assistance Scheme for Covid (SBASC) are eligible to apply.
The features of the Music and Entertainment Business Assistance Scheme (MEBAS) are as follows;
Sole traders, partnerships or incorporated entities operating as a business exclusively within the live entertainment sector are eligible to apply.
Businesses of musicians and singers of all genres are eligible as are:
sound and lighting equipment suppliers
live-streaming equipment suppliers
full-time disc jockeys
Support will be offered by way of a single once-off payment at three levels:
€2,500 for businesses with a VAT-exclusive turnover of €20,000 - €50,000 with minimum business costs of €3,000
€4,000 for businesses with a VAT-exclusive turnover of €50,000 - €100,000 with minimum business costs of €6,000
€5,000 for businesses with VAT-exclusive turnover in excess of €100,000 with minimum business costs of €7,500
Turnover of the business for 1 April 2020 – 31 March 2021 must be no more than 25% of the turnover of the business in the year for which accounts are submitted. The business must intend to resume trading in full once government restrictions are eased.
“I am very pleased to open the Music and Entertainment Business Assistance Scheme for applications from businesses. This scheme is part of a €50 million suite of supports for those working in the live entertainment sector. This funding of €14 million will provide much needed support to those in the live performance sector that do not qualify for other business supports.”