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Murphy encourages businesses to apply for £50k support


Finance Minister, Conor Murphy is encouraging businesses eligible for the Large NAV £50,000 Business Grant Scheme to apply before the 5 May deadline.


The scheme being delivered by Land & Property Services will provide financial support to businesses occupying large commercial premises with a Net Annual Value (NAV) of over £51,000 and which also qualified for the 12 months rates holiday.





The online portal will close for applications at 11.59pm on Wednesday 5 May.

Encouraging businesses to apply, Minister Murphy said:


“So far over 450 applications have been received for this scheme which is focused on supporting businesses across retail, childcare, manufacturing, hospitality, tourism and leisure which didn’t qualify for previous grants.


“The online application process is simple and easy to complete. I would encourage any business which thinks it may be eligible to go online and check the scheme criteria and submit their application before the 5 May deadline.”

Further details including eligibility criteria can be found on the nibusinessinfo website at:


www.nibusinessinfo.co.uk/LargeNAVBusinessGrant


The following criteria apply to the Large NAV Business Grant Scheme:


  • Businesses must have occupied commercial premises on 1 March 2021 with a NAV over £51,000.

  • Business must have been awarded the 12 month rates holiday in 2020-21.

  • Only one grant will be paid for businesses with multiple premises.

  • Business in administration or with vacant properties cannot apply.

  • Airports, food retailers, petrol filling stations and sports clubs are not eligible.

  • Businesses that received or are entitled to receive the Department for the Economy’s Large Tourism and Hospitality Business Support Scheme are not eligible to apply.





If a business previously received the £10k Small Business Support Grant or the £25k Retail, Hospitality, Tourism and Leisure Grant and the NAV of its premises on 1 March 2021 is over £51,000 as, the business is eligible to apply but their grant payment will be adjusted to ensure they do not receive more than the maximum of £50,000. Applications will be processed in line with the Financial Assistance (Coronavirus) (Large Business) Regulations (Northern Ireland) 2021 No. 88:


http://www.legislation.gov.uk/id/nisr/2021/88



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