Coronavirus (Covid-19) Hub

Covid-19 : Business Support 08.10.20 – Update 49

Over the last number of days a variety of additional support measures have been announced, which are summarised below:

Hospitality Sector – grant scheme for hospitality businesses in North West
This grant support scheme has been announced to assist those businesses forced to temporarily limit their operations in the Derry City and Strabane District Council area following the restrictions imposed.
Small businesses will receive £800 for every two weeks they are closed, with larger businesses receiving £1,200 for two weeks.
Eligibility for this scheme is as follows:

  • operates from an address in the Derry City and Strabane District Council area;
  • has been identified by the Derry City and Strabane District Council Environmental Health department in one of the following categories:
    • Cafes/Restaurants
    • Hotels/Guest Houses
    • Pubs
  • had re-opened after lockdown and had been trading on 1st October when the new restrictions were announced; and
  • the business premises must not have failed to comply with a Covid-19 prohibition notice issued by the PSNI.

Further guidance in respect of this scheme including access to the online application (which will be made available early next week) can be found here.

Covid-19 Business and Financial Planning Grant (“BFPG”)
Businesses in Northern Ireland can access a grant of up to £8,000 to support 80% of eligible costs to develop a strategic recovery plan to include:

  • Reviewing the current business model
  • Carrying out a comprehensive business health check
  • Determining how to minimise costs and maximise liquidity
  • Identify funding shortfalls and potential sources of funding
  • Develop a strategic recovery plan with financial forecasts

BFPG is open to all micro and small or medium sized businesses in NI that are Invest NI customers, or operating in the manufacturing, construction, professional services, information and communication, or science and technology.
The call for application is now open on a first-come first-served basis. As Approved Consultants, ASM can provide support under the Covid-19 Business & Financial Planning Grant scheme.
Further information in respect of the scheme can be found in the guidance notes.

Tourism & Hospitality Sector – new Business and Financial Planning Support Programme from Tourism NI
This programme aims to help tourism businesses assess the impacts of Covid-19 and develop a strategic recovery plan to include:

  • A health check and financial plan;
  • A review of business model;
  • Identify funding shortfalls and/or debt restructuring

Successful applicants will be assigned an advisor to work with them on their plans. The plans will be scoped in conjunction with Tourism NI advisors, with the scope of services not exceeding a maximum value per applicant of £8,000.
Stage 1 of the application process is completion on an online expression of interest form. All expressions of interest are to be submitted by 3pm on 2nd November 2020.
For more information including eligibility criteria and further guidance on how to apply click here.

ASM Contacts

ASM Accountants Logo

Grainne Quinn – Magherafelt
grainne.quinn@asmmagherafelt.com

Ian Finnegan – Newry
ian.finnegan@asmnewry.com

Caroline Keenan – Belfast
caroline.keenan@asmbelfast.com

Michael P. O’Hare – Dundalk
michael.p.ohare@asmdundalk.com

Alistair Cooke – Dungannon
alistair.cooke@asmdungannon.com