Following the announcement that support will be extended for those businesses, individuals and self-employed that continue to be impacted by the current circuit break lockdown, the Economic Recovery Group has announced the Business Premises Support Scheme to support local businesses in designated sectors that have been financially affected by the COVID-19 pandemic.
The Scheme was created to assist eligible businesses and self-employed persons:
- Whose turnover has been materially impacted by 25% or more over the course of the pandemic; and
- Who operate from commercial business premises.
The Business Premises Support Scheme operates in two parts. Applicants should be aware of the difference between the following two elements of the Scheme.
Eligible businesses can apply for either or both of these parts for each of its eligible commercial premises:
Rates Payment Element
Offers financial support in the form of a grant payment to eligible businesses, equivalent to a business' annual rates bill for each of its commercial premises.
Important note - this is not a rates rebate and applicants will still be required to pay their rates bill(s) as usual for each of its commercial premises.
This payment is open to all businesses who operate in sectors omitted from 'excluded sectors' listed in the Scheme Guidance.
£250 Payment Element
Offers a one-off payment of £250 for each of the applicant's commercial premises within the hospitality and catering sector that would normally open on Saturdays and/or Sundays and either:
a) Closed earlier than usual; or
b) Didn’t open at all on either Saturday 27 or Sunday 28 February 2021 in line with Government advice issued that weekend.
This payment is exclusively available to businesses operating in the following sectors only:
- Commercial business premises which are registered with the Department of Environment, Food and Agriculture as a food business, such as coffee shops, cafes and restaurants; or
- Commercial business premises in respect of which an on-licence, granted under the Licensing Act 1995, is in force, such as bars, nightclubs and public houses, whether or not they serve food.
How to Apply
It is intended that applications for the Business Premises Support Scheme will open at 5pm on Wednesday 31 March 2021.
Applications for this Scheme will close at 5:30pm on 30 April 2021. Any issues with submitted applications must be resolved by the 16 May 2021, failure to resolve issues by this date will result in the application being closed and no payment will be made.
This support can be claimed by eligible businesses alongside other COVID-19 financial support offered by the Isle of Man Government, including, CBSS - Circuit Break (March 2021) £2,500 payment, CBSS Round 4 (£3,000 for business operating in the Tourism & Travel sector), the MERA and Salary Support Scheme.