The Finance Minister has announced £177.9 million in new business support grants to include:
£50,000 Grant
- £50,000 for businesses with a Net Annual Value (NAV) over £51,000 that are eligible for the 12 months rates holiday
- Exclusions apply and only one grant will be paid for businesses with multiple premises.
- Businesses will have to apply for this grant.
- £25,000 payment for manufacturers with a Net Annual Value (NAV) between £15,001 and £51,000.
- Payments will be automatic.
- £10,000 payment for businesses that received the £25,000 Retail, Tourism, Hospitality and Leisure Grant and have not been paid under the Localised Restrictions Support Scheme or Covid Restrictions Business Support Scheme: Part B.
- Payments will be automatic.
- £5,000 for businesses that received the £10,000 Small Business Support Grant and have not been paid under the Localised Restrictions Support Scheme or Covid Restrictions Business Support Scheme: Part B.
- Businesses which have ceased trading since the £10,000 grant was paid and those paid the £10,000 grant in error are excluded.
- Eligible businesses will include 'essential retail' currently allowed to remain open
- Payment will be automatic.