16/05/2024

Back In Business Support Scheme Relaunches

A scheme designed to encourage businesses to occupy vacant premises in town centres across Northern Ireland, has been relaunched by Finance Minister. Dr Caoimhe Archibald.

The Back in Business scheme offers businesses a 50% rates discount for up to two years if they move into vacant premises that have been unoccupied for 12 months or more and that were previously used for retail purposes.

Launching the scheme Finance Minister, Dr Caoimhe Archibald said: "All of us want to see our town centres and shopping areas thriving. The Back in Business scheme aims to help bring vibrancy, footfall and investment back to our high streets while providing businesses with a boost at the start of their business journey, helping to support jobs and bring long term vacant units back into use.

"The difference a bustling business can make to a once empty property on a main thoroughfare is striking. I would urge anyone planning to start a business or expanding their existing business to consider setting up in an empty unit and avail of the rate support on offer through Back in Business."
News Image
Glyn Roberts from Retail NI added: "We welcome the restoration of the Back in Business rates relief scheme. It provides new start businesses with a much-needed fifty percent rates discount in their vital first two years of trading.

"The scheme also plays an important role in encouraging empty units to be brought back into productive use, boosting footfall and assisting High Street recovery."

Colin Neill from Hospitality Ulster commented: "Hospitality Ulster welcomes the launch of the Back in Business scheme. As vacancy and dereliction have long been issues across the towns and cities of Northern Ireland, it is important to incentivise local operators to address this and, in turn, expand their offerings and contribute to the local economy. This is a positive step towards doing just that.

"This scheme has in the past shown what can be achieved when pressures on operators are lightened. We look forward to working in collaboration with the Minister and her department on this and on further work to reform business rates to ensure that we are doing all that we can to support not only new businesses, but existing ones too."

The Back in Business scheme is open to all business types and applications can be made online. Further information on how to apply can be found at www.nibusinessinfo.co.uk/back-in-business




Related Northern Ireland News Stories
Click here for the latest headlines.

10 June 2024
PHA Launches Active Travel Scheme
This Bike Week (10–16 June) the Public Health Agency (PHA) is encouraging everyone to get cycling and reap the many benefits of getting active. Gerard Walls, Senior Health and Social Wellbeing Officer at the PHA, said: "Cycling is a fun and interactive way to get moving and incorporate more physical activity into your routine.
18 June 2024
Alliance MPs To Push For Improvements To Tax-Free Childcare Scheme
The Alliance Party has made a commitment that their MP's will push for improvements to the UK Government's tax-free childcare scheme.
30 April 2024
First Institutional Payment For Redress Scheme Received
The first institutional payment towards redress for the victims and survivors of historical abuse of children has been received, First Minister Michelle O'Neill has announced. Alliance representatives Paula Bradshaw MLA and Connie Egan MLA welcomed the news, but said that it "reinforces the urgency of the work still to be done".
25 April 2024
Economy Minister Launches Latest All Ireland Scholarships Scheme
Minister for the Economy, Conor Murphy, has announced the launch of the latest All Ireland Scholarships Scheme for students in Northern Ireland. The value of each scholarship is £5,500 per annum for the duration of their undergraduate programme. The All Ireland Scholarships were established in 2008 by JP McManus.
08 March 2024
Electronic Travel Authorisation Scheme Threatens Tourism Growth
Economy Minister Conor Murphy has raised concerns over the introduction of the British Government Electronic Travel Authorisation (ETA) Scheme. Meeting with the NI Tourism Alliance (NITA), the Minister said that the scheme could threaten Northern Ireland's tourism growth.