CORONAVIRUS: BUSINESS SUPPORT GRANT SCHEMES!

21 April 2020

There are two schemes and a summary of who qualifies and how to access it is provided below:

£10,000 Small Business Support Grant Scheme

1. Any business currently eligible for Small Business Rate Relief (SBRR) will get the £10,000 grant i.e. business premises with an NAV below £15,000 (exclusions apply)
2. Vacant properties are not eligible and neither are businesses with more than four properties
3. No application is necessary and if LPS has your bank details it will be paid automatically by 31 March
4. If LPS doesn’t have your bank details you will need to register through an online portal via the following link https://www.nibusinessinfo.co.uk/content/coronavirus-business-support-grant-schemes
5. Only one payment per business will be paid
6. A business qualifying as a result of the NAV becoming eligible following publication of the new Revaluation List on 31 March 2020 will be eligible 
7. Business premises with an NAV below £15,000 but which benefit from industrial de-rating rather than SBRR are eligible
8. Landlords are not eligible for the grant

1. Business premises must be in one of the above sectors but the definitions are wide ranging
2. The business must occupy premises with an NAV between £15,001 and £51,000
3. An application needs to be submitted and the application form can be found at https://www.covid-19smallbusinessgrants.economy-ni.gov.uk/BusinessGrant25K/
4. Applications must be submitted by 20 May 2020
5. Businesses with multiple premises can only claim one grant of £25,000 but separate though related companies may be eligible for a grant on a company by company basis
6. The qualifying NAV is the one applicable on 15 March 2020 but an NAV that enters the qualifying band by virtue of being in the new rating list published on 1 April 2020 also qualifies