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Mon, 12 Apr 2021
A further £1,504,000 have been paid to businesses through the Coronavirus Business Support Scheme.
It follows the announcement made on 1st April by the Chief Minister that additional funding was being made available due to the extended lockdown period.
The Scheme opened on 3rd March 2021 to support businesses with their overheads during the March 2021 circuit break lockdown.
On Thursday 1st April it was announced that in recognition of the circuit break extension, businesses in eligible sectors would automatically receive additional funding of £1,000. This additional support excluded the construction, gardening & horticulture and windows & external cleaning sectors which were able to return to work, with Coronavirus safety measures in place, from the 6th April 2021.
Last week the additional payment of £1,000 was automatically paid to 1,504 businesses who were eligible for additional support and were in receipt of the initial grant payment (£1,500) and the first top up payment (£1,000) which was made on Wednesday 24th March 2021. The maximum amount of support provided to business through this Scheme is now £3,500.
Whilst businesses operating in the construction, gardening & horticulture and external & window cleaning are broadly able to reopen, the Department for Enterprise recognises that some businesses operating in these sectors will not be able to return to work or will have reduced turnover and will therefore require additional financial support. These businesses are encouraged to request special consideration based on their individual circumstances which will be reviewed on a case-by-case basis. The form to request special consideration can be found online at: www.iomdfenterprise.im/cbss-cbl
The total amount of funding paid to support businesses through the CBSS – Circuit Break (March 2021), as of Thursday 8th April 2021 stands at £8m.
The Scheme remains open until 30th April and new eligible applicants will receive a single grant payment of £3,500 to support with the cost of business overhead payments throughout the duration of the circuit break lockdown.
However, new applicants who operate in the construction, gardening & horticulture and external & window cleaning sectors will receive £2,500. Applicants in these sectors who are unable to return to work or whose turnover has or will remain reduced by more than 25% for the period 6th April to 19th April can request special consideration in order to receive the full £3,500.
New applications for the Scheme can be made online at: www.iomdfenterprise.im/cbss-cbl
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