The Minister for the Economy has announced two schemes to provide support to businesses through Invest NI and Tourism NI.
The aim of the Tourism NI scheme - Covid Business & Financial Planning Support Programme is to support the development of recovery plans including:
• A Health Check and Financial Plan
• Review of Business Model
• Identify Funding Shortfalls and/or Debt Restructuring
This is an 80% grant, with a maximum of £8,000 being provided to businesses for consultancy support to develop a recovery plan, meaning the business will pay maximum £2,000 towards the costs.Expressions of interest must be submitted by 3pm on 2nd November and can be submitted from 7th October.Minimum eligibility criteria:
- You must be a tourism business located within Northern Ireland.
- You must have an active listing on TNI consumer website www.discovernorthernireland.com as at 01 April 2020
- You (as a business) should have been operational on or before 01 September 2018. However, in limited circumstances, if you haven’t been operational on or before 01 September 2018 and Tourism NI can get sufficient evidence that there is a strong future pipeline of business, this requirement may be relaxed.
- Tourism NI will require minimum turnover levels of £100,000 in one of the last three years up to 31 March 2020
- You must be able to confirm that the business was a viable business prior to the COVID-19 pandemic.
- If currently open and trading you will be required to be registered, or commit to registration, to the UK-wide industry standard “We’re Good to Go”The following businesses are ineligible:
- Sports Clubs- Business Start-Ups with the possible exceptions
- Local Authority or Destination Management Companies
- Visitor Information Centres
- Shops, Restaurants, Bars, Cafes etc.
For more information click here