The Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media, Catherine Martin TD, has given further details for the Music and Entertainment Business Assistance Scheme (MEBAS) which was announced yesterday which will consist of a €14m fund and opens for applications at 1pm on June 9th 2021.
The €14m fund 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 engineers
- lighting engineers
- audio engineers
- stage managers
- stage technicians
- sound and lighting equipment suppliers
- live-streaming equipment suppliers
- full-time DJs
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;
- Business must intend to resume trading in full once government restrictions are eased.
The Music and Entertainment Business Assistance Scheme will open for applications from 9 June 2021 to 7 July 2021 through an online application system. This date may be extended if funding remains available for the scheme. Further information in relation to MEBAS, including scheme guidelines, how to access the online application system and FAQs can be found here.