First cash grants for local businesses to be rolled out, support for self-employed confirmed

An online portal: www.covid-19smallbusinessgrants.economy-ni.gov.uk/ has gone live for businesses to register their bank and rates details to secure payment.

Payments of the £10,000 grant will be available in cash to 27,000 small businesses, including those in receipt of the Small Business Grants Scheme.

An additional 4,000 businesses in the tourism, hospitality and retail sectors will receive £25,000 in cash if they have a rateable value of between £15,001 and £51,000.

Self-employed people with trading profits of under £50,000 will also be able to benefit from a HM Treasury Self-Employed Income Support Scheme, a taxable grant worth 80% of their average monthly profits over the last three years, up to £2,500 per month.

The move was welcomed by the First Minister Arlene Foster and the deputy First Minister Michelle O’Neill, who had been pressing for financial support for the self-employed.