Deadline extended for £50k Business Grant Scheme

Date published: 06 May 2021

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Finance Minister, Conor Murphy is encouraging all businesses eligible for the Large NAV £50,000 Business Grant Scheme to apply for funding and has extended the application deadline until Friday 14th May.

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

Encouraging businesses to apply, Minister Murphy said: “So far almost 600 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. 

“I know many businesses have been focused on re-opening but I would encourage any business which thinks it may be eligible to check the online scheme criteria and submit their application before the final deadline.

“The online application process is simple and easy to complete but eligible businesses must apply before 23.59 on Friday 14th May to benefit.”

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

Notes to editors: 

  1. 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.
  1. 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.
  2. Applications will be processed in line with the Financial Assistance (Coronavirus) (Large Business) Regulations (Northern Ireland) 2021 No. 88.

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