Small business grant scheme is launched

The Small Business Support Grant Scheme, providing grants of £10,000, will be extended to include small industrial businesses that qualify for industrial de-rating. This expansion will cover around 2,500 additional businesses.

“From the onset of the COVID-19 pandemic, I have been committed to supporting businesses to mitigate the inevitable economic consequences of the vital restrictions we live under,” said Minister Diane Dodds.

“In recent years, the hospitality, retail and tourism sectors in Northern Ireland have flourished, but their sustainability is based on people being able to travel, shop and socialise. COVID-19 has thrown into sharp relief the fragility of these sectors and I am acutely aware of the hardship now being faced by these businesses.

“Over 4,000 businesses in these sectors will be able to apply for grants of £25,000 from Monday 20 April. Information on eligibility and how to apply will be available on the nibusinessinfo website and I urge anyone who believes they are eligible to apply from that date.”

Turning to the expansion of the Small Business Support Grant Scheme, the Minister said: “We very quickly set up the Small Business Support Grant Scheme to support up to 27,000 businesses in receipt of Small Business Rate Relief.

“I am pleased to be in a position now to expand that scheme further. Around 2,500 small businesses which benefit from industrial de-rating are now also eligible for the support. More than 14,000 payments have been made to local businesses through this scheme and applications continue to be processed.”