Back in Business Rate Relief scheme extended for applications
Date published:
Finance Minister John O’Dowd has encouraged anyone planning to start or expand their business to avail of the Back in Business scheme.
The Rate Relief scheme offers businesses a 50% rates discount for up to two years if they move into premises which was previously used for retail purposes and has been unoccupied for 12 months or more.
Since its relaunch in May 2024, the scheme has provided more than £93,000 in rate relief to 36 businesses, helping them bring previously vacant properties back into use.
Speaking after a visit to City Sips Café in Newry, who have benefited from the scheme, Finance Minister O’Dowd said: “Our high streets and shops are vital in helping to support the local economy and employment. For many they are essential for not only their daily supplies but also to meet and socialise with others and are at the heart of our local communities.
“The continuation of the Back in Business rate relief scheme aims to support businesses to establish or expand into previously vacant premises and breathe new life into these sites.
“I welcome the opportunity to visit City Sips Café, here in the heart of Newry, who with the support of the scheme have revitalised this previously empty retail unit into a popular café and eatery which is now a focal point for the local community.
The Minister added: “The Back in Business scheme is open to all business types and applications can be made online. I would urge anyone starting a business or expanding their existing business to consider setting up in an empty unit and avail of the rate support on offer through the scheme.”
Welcoming the Minister to City Sips Café, owner Caoimhe Meehan said: “The Back in Business support scheme has been instrumental in providing the financial assistance I needed at the start of my business journey, helping me to open my café and employ five people. I highly recommend it to anyone looking to open or expand a business, as it can make a significant difference in securing the perfect premises.”
Notes to editors:
- Pictures – Finance Minister John O’Dowd MLA with City Sips Café owner Caoimhe Meehan.
- Further information on how to apply for the Back in business Scheme can be found at https://www.nibusinessinfo.co.uk/content/back-business-rate-support
- The rate discount of 50% is granted for 24 months beginning on the day the retail unit becomes occupied.
- When the Back in Business scheme was last in place during 2022/23, 101 businesses benefitted from the 50% rate reduction support, the majority of which were small independent retailers
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