The Economic Recovery Group (ERG) has announced new and extended measures to support local businesses in light of the continuing pressues around Covid-19.

The new measures amount to £9 million of further support.

They include:

l A grant will be offered to all businesses that have suffered a 25% downturn in a yet to be decided qualifying period, in the catering, hospitality, retail (non-essential) and lifestyle sectors with commercial premises equivalent to four years’ business rates, which is intended to provide support for premises costs for the period of December 2021 to March 2022. Those businesses without commercial premises can claim a single grant payment of £4,000 to cover the same period.

l The Strategic Capacity Scheme (SCS), which supports tourist accommodation providers, will be extended until March 2022.

l Support for Allied tourism and travel businesses (self-employed and sole traders) will also be extended for the period January to March 2022, in the form of a single grant payment of £3,000.

l The Coronavirus Recovery Scheme (CRS) will be extended until March 2022 for those allied tourism and travel businesses with staff other than the owners.

l The Coronavirus Business Adaptation Grant will be extended to March 2022 supporting a broad range of sectors with the ability to enhance their offering, for example by developing online services for customers or improving ventilation systems.

l An additional £3,000 one-off grant will be available for retail (non-essential), catering, hospitality and lifestyle sector businesses in January 2022 that can demonstrate a 25% downturn in business for December 2021.

l The Domestic Event Fund has been extended until March 2022 and enhanced to include single venues within the hospitality sector.

These measures add to the range of support already available for local businesses and employees.

Treasury Minister David Ashford MHK, said: ’We know the next few months are going to be tough on certain sectors especially, and have made a commitment to continuing this support into spring next year and today’s announcements represent a further package of more than £9 million of direct support.’

More details on the full range of support available and how to apply can be found at www.covid19.gov.im/