Applications are closing today, Wednesday 5th May at 11.59pm for the Large Net Annual Value (NAV) Business Grant.
This scheme was announced in March by the Finance Minister Conor Murphy, aiming to support businesses recovering from the impact of COVID-19. Further details on eligibility and how to apply can be found below.
CavanaghKelly is delivering a webinar to Derry/Londonderry Chamber of Commerce members on Thursday 6th May 2021. Clients are welcome to join and learn about options available to repay Bounce Back Loans, Coronavirus Business Interruption Loans (CBILs) and hear details on the new Recovery Loan Scheme. Further details on how to join the webinar can be found within this email.
Closing Today - Large Net Annual Value (NAV) Business Grant
The Large NAV Business Grant scheme closes for applications today, Wednesday 5 May 2021 at 11.59pm.
The grant provides financial support to businesses that occupied commercial premises with a NAV over £51,000 from 1 March 2021 and were awarded a year rates holiday for 2020/2021. This scheme has been created to support businesses who are the main occupier of a property. Businesses who consider themselves eligible for support from this scheme can apply, despite not being the named ratepayer on the business rate bill for the property.
Eligible businesses must fill out an online application and provide the required documents before they are considered for the grant.
For further information on eligibility and exclusions, click here.
New Details Announced for NI Business Support Grants
In addition to the Large NAV Grant mentioned above, further grants were announced by Finance Minister Conor Murphy in March.
- Manufacturing (Industrial Derating) Support Grant - £25,000 top-up payment for manufacturers with a NAV between £15,001 and £51,000
- Retail, Tourism, Hospitality and Leisure Grant - £10,000 top up payment
- Small Business Support Grant - £5,000 top up grant
These grant schemes will be automatically paid to eligible businesses over the coming weeks. If businesses are eligible, they will have been notified by letter or email of the payment.
COVID-19 Supply Chain Resilience & Development Framework
This scheme will close to applications on Friday 28th May or earlier if the funding is fully allocated.
The scheme provide support to businesses to help improve their supply chain resilience and competitiveness. There are three levels of support:
- Level 1: Up to a half day free support and specialist advice to help it understand the key supply chain issues it is facing, and provide initial advice and direction on how to resolve these.
- Level 2: If there is a need for an improvement action plan that will strengthen the business’ supply chain operation, up to a further 10 days of support may be made available and may include strategic procurement and supply chain advice, identifying supply chain opportunities and mentoring on supply chain improvement.
- Level 3: Financial assistance may be available towards 50% of the first 12 months' salary costs, up to a maximum of £25k of support for a new, dedicated supply chain role.
Businesses may check their eligibility by clicking here.
For further information, click here.
Claim Through the Self-Employment Income Support Scheme – 4th Grant
If you are self-employed or a member of a partnership and continue to be impacted by COVID, you may be eligible to claim the grant.
You must make your claim for the fourth grant on or before Tuesday 1 June 2021.
For further information and to begin your claim, click here.
Environment Fund 2019-2022
A £2 million Environmental Challenge Fund has now opened for applications. The fund is available to not-for-profit organisations and councils to deliver natural heritage projects that support COVID-19 recovery and Green Growth across NI.
Grant awards of over £30,000 are on offer with the maximum amount of Department of Agriculture, Environment and Rural Affairs (DAERA) funding available under the competition, normally covering up to 85% of eligible costs.
For further information on the funding and how to apply click the link above and click here.
The closing date for applications is noon on Tuesday 1 June 2021.
Environmental Farming Scheme (EFS) – Higher Level
The EFS Higher Level has opened for applications and is for land with environmental designations, such as Special Areas of Conservation (SAC) and Areas of Special Scientific Interest (ASSI), and other area of priority habitat.
To check if your land is eligible, applicants should log on to the Department of Agriculture, Environment and Rural Affairs (DAERA) online services under EFS, where the fields for each farm business will be marked as either Higher or Wider Level.
For further information on the EFS Scheme click the link above and click here.
COVID-19 Grant for Local Potato Sector Announced
Agriculture Minister Edwin Poots MLA, has signalled the introduction of a financial support fund for potato farmers impacted by a reduction in demand from hospitality and food service sectors during the past 7 months due to COVID lockdown measures. Further details are to be announced later this month and will be detailed in future CavanaghKelly Client Updates.
Hospitality and Tourism Recovery Programme
Funded by the Department for the Economy (DfE), this programme aims to provide a skills-led approach to support hospitality and tourism managers, as they move through the pandemic restrictions and into recovery. There is also an opportunity for eligible businesses to receive accredited qualifications.
For further information on the programme, click here.
Extension of Workplace COVID-19 Testing
The Department of Health has expanded the workforce asymptomatic testing scheme, to all organisations with 10 or more employees or volunteers, where previously this has been restricted to organisations with more than 50. Employers wishing to take part in the testing schemes should complete an online expression of interest.
For further information, click here.
CavanaghKelly and Derry/Londonderry Chamber of Commerce Webinar
Michael Drumm and Anita Doris will be presenting for the Derry/Londonderry Chamber of Commerce on Thursday 6th May 2021. This webinar will detail the options available for businesses repaying Government backed Bounce Back Loans, Coronavirus Business Interruption Loans (CBILs) and the steps businesses can take to mitigate any risks. The webinar will also discuss the new Recovery Loan Scheme, which businesses may be eligible for. To book your place on the webinar, click here.
Seedcorn Investor Readiness Competition 2021
The 2021 Seedcorn Investor Readiness Competition has now opened for entries. This competition welcomes applications from start-ups and early-stage businesses, as the competition is the perfect chance to get ‘investor ready’. For further information on how to enter, click here.
The deadline for applications is 1pm on Friday 28 May 2021.
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.