As we face yet another month of lockdown, the Finance Minister has announced new business support grants which will provide £177.9 million of support to around 20,000 business.

There are four new support grants amounting to £50,000, £25,000. £10,000 and £5,000.

£50,000 Grant

Only one grant will be paid to businesses who have multiple premises.

Who can apply?

  • Businesses with a Net Annual Value over £51,000 that are eligible for the 12 months rates holiday. This includes retail, hospitality, tourism, leisure, manufacturing, childcare and newspaper producers.

Who cannot apply?

  • 3 main airports, businesses that qualify for the Department for Economy Large Tourism and Hospitality Business Support Scheme.
  • Those that qualify for one of the Department for Communities support schemes.
  • Food retail and petrol stations.
  • Businesses with vacant properties.
  • Businesses in administration

£25,000 Grant

Payments will be automatic.

Who can apply?

  • Manufacturers with a Net Annual Value between £15,001 and £51,000.

£10,000 Grant

Payments will be automatic.

Who can apply?

  • Businesses that received the £25,000 Retail, Tourism, Hospitality and Leisure grant and did not get paid under the Localised Restrictions Support Scheme or COVID-19 Restrictions Business Support Scheme: Part B.

£5,000 Grant

Payments will be automatic.

Who can apply?

  • Businesses that received the £10,000 Small Business Support Grant but did not get paid under the Localised Restrictions Support Scheme or COVID-19 Restrictions Business Support Scheme: Part B.
  • Essential retail e.g. those who are currently allowed to remain open under current Government restrictions.

For more information, please contact the RB+ Group  on 02895320155 or email info@rossboyd.co.uk

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