A financial support scheme for businesses in Northern Ireland which have been affected by the latest coronavirus restrictions is now open for applications. If you have a business that has either had to close or it has been severely affected by the new laws then you are eligible to apply for support through the fund. By yesterday evening there had already been around 5,000 applications.
Financial Support During The Crisis
Here are details of the scheme as published on the BBC News website:
`Under the scheme, businesses will receive the following amounts for every week these restrictions apply:
`- Small businesses (up to £15,000 net annual value) – £800
– Medium businesses (£15,001 – £51,000 net annual value) – £1,200
-Large businesses (over £51,000 net annual value) – £1,600
`Eligible businesses include cafes, pubs, hotels, close-contact services like hairdressers and other businesses required to close such as cinemas, museums and galleries. Indoor attractions have also been closed, including Titanic Belfast.`
About Businesses That Are Not Eligible To Apply For The Scheme
Of course there will be many businesses that will be affected by the new restrictions and the pandemic in general but not eligible to apply for this funding. In the same article on the BBC News website Finance Minister Conor Murphy said:
`he has encouraged executive colleagues to bring forward proposals for sectors they have responsibility for to address pressures experienced by supply chain businesses and the self-employed.
“As an executive we must do all we can to support businesses including those who to date haven’t benefitted from existing schemes.
“This scheme has been designed to provide much needed support to the occupying business within a commercial property which has been required to close or severely restrict its trading as a result of the regulations – you don’t have to be the ratepayer to receive support.
“I’m pleased this scheme will also provide financial support to owners of bed and breakfasts; some of which pay domestic rates and haven’t received support until now.”
He added that he had written to the Treasury and “asked that urgent consideration is given to bringing forward the start date of the Job Support Scheme”.`
If You Think You May Be Eligible Don`t Hesitate To Apply
We urge any business owners who think they may be eligible for the above financial support to put in their applications as soon as they can. It is vitally important that all businesses access all the support, in terms of funding, grants or loans, that they can in a bid to ride this particularly heavy storm we are experiencing right now.
And if you are unsure if there are any other forms of support out there that you can apply for then get in touch with our experienced accountancy team and we can check this out for you. Don`t hesitate to pick up the phone, give our team a call on 028 3752 2909.