Coronavirus Business Support Scheme being reopened

Another financial support scheme is being reopened to help businesses during the second lockdown.

The Coronavirus Business Support Scheme (CBSS) is being reactivated later today (January 14) to help a range of sectors with a fixed payment of £1,500 available for eligible applicants.

The scheme will be open to qualifying companies and the self-employed who can prove they have eligible ongoing business overheads of at least £500 per month.

It'll run alongside the existing MERA and Salary Support Scheme which have already been brought back by Treasury.

The CBBS will open later today and will be accepting applications until Sunday, January 31.

Officials say applicants who received support during previous rounds of the CBSS will be fast-tracked whilst new applicants, or those that previously failed eligibility checks will be subject to full checks in respect of their Tax and VAT status as per previous rounds.

Enterprise Minister, Laurence Skelly MHK, says: "By reopening the CBSS, we wish to provide sufficient support for businesses who need to access it so that we can protect the economic stability of the Island and ensure a speedy recovery once the current limitations are able to be lifted.

Firms are also able to access support through the Coronavirus Business Working Capital Loan Agreement, and the Disruption Loan Guarantee schemes, both of which have been extended to March 31.

Full information on the support schemes available and how to apply for them is available via the link here.