Weekly Update 16 March
In this update we outline additional COVID-19 support grants announced by the Finance Minister. Additional financial support recently announced includes support for bus operator services, recovery loan support schemes and COVID-19 testing in the workplace has also been introduced.
COVID Support
COVID New Grants Announced to Support NI Businesses
Finance Minister Conor Murphy has announced £177.9 million in grants to support businesses in Northern Ireland. The grants will support around 20,000 businesses in Northern Ireland currently impacted by the pandemic. This grant is available for those who may have not previously received financial support during the pandemic.
For further information on the grant your business may be entitled to click here.
Second Bus Operator Financial Assistance Scheme Opens
The Department for Infrastructure (DFI) has opened an additional financial scheme for bus and coach operators. The scheme will cover the period from 1 October 2020 until 31 March 2021. This scheme aims to provide financial assistance to bus and coach operators for ongoing overhead costs and expenses. Private coach and bus operators could receive £8000 for the first vehicle and £4450 for each additional vehicle in their fleet.
The deadline for applications is Friday 9 April 2021.
For further information on eligibility and how to apply, click here.
Workplace COVID-19 Testing for Key Sector Employers
The Asymptomatic Testing Programme in NI has been extended across public and private sector employers, ensuring that it is made available through a phased approach.
To find out if your business is eligible, click here.
New Support to Help Improve Supply Chain Resilience
Invest Northern Ireland has launched a new programme to help NI businesses improve their supply chains following the impact of COVID-19. This new COVID-19 support will primarily provide specialist advisory support to help businesses identify supply chain risks and appropriate mitigations, identify supply chain opportunities and develop supply chain capability.
For further information, click here.
To check your eligibility, click here.
This loan scheme supports access to finance for UK businesses as they grow and recover from the disruption caused by the impact of the pandemic.
The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing COVID-19 loan schemes close.
The scheme launches on Tuesday 6 April 2021 and is open until 31 December.
EU Exit
The SME Support Fund could give businesses up to £2000 to help with training or professional advice if your business has up to 500 employees and no more than £100 million annual turnover.The grant can be used to cover the costs of training on:
- How to complete customs declarations
- How to manage customers processes and use customs software and systems
- Specific import and export related aspects including VAT, excise and rules of origin
For further information on eligibility criteria click here.
Applications will close on Wednesday 30 June 2021, however early applications are encouraged as the deadline may close when all funding has been allocated.
EU Settlement Scheme: Helping EU Workers Apply to Stay in Northern Ireland after June 2021
If your business employs workers from the EUA, EEA or Swiss citizens, there are a number of steps you can take to minimise the impact the EU Exit may have on your business and staff.
The deadline for applying for the EU Settlement Scheme is Wednesday 30 June 2021.
For further details, click here.
Government and Council Support
New Micro Business Investment Scheme Now Open for Applications
The Department of Agriculture, Environment and Rural Affairs (DAERA) has announced that a £1 million capital grant scheme will open to help existing micro food businesses upscale production for their products.
The scheme opened for expressions of interest from Monday 8 March 2021 and will remain open for a six-week period.
For further information on the scheme and eligibility requirements, click here.
Cyber Action Plan for Sole Traders and Micro Businesses
A new self-assessment tool has launched to help small UK businesses stay safe from online security threats.
The Cyber Action Plan forms part of the governments wider Cyber Aware campaign and offers bespoke, actionable cyber security information covering:
- Password and credential hygiene
- The use of tools such as multi-factor authentication
- The importance of prompt patching and data backups
For further information click here.
To start your action plan now, click here.
If you have any questions, contact us.
Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.