Applications for Coronavirus Business Support Schemes extended for an additional two weeks

Applications for the Coronavirus Business Support Scheme (CBSS) – Circuit Break (March 2021) and the Business Premises Support Scheme (BPSS), which were introduced to support businesses during the Circuit Break Lockdown, have been extended until Friday 14^th May 2021.

The CBSS – Circuit Break (March 2021) was introduced on 2^nd March 2021 and provides local businesses and self-employed individuals in designated sectors with grant assistance of up to £3,500. Eligible applicants must declare that their turnover was reduced by 25% or more due to the March/April 2021 Circuit Break Lockdown, and have over £250 of eligible monthly business overheads per calendar month.

Businesses and self-employed individuals can apply for the CBSS – Circuit Break (March 2021) by visiting: https://www.departmentforenterprise.im/financial-support/funding/cbss-cbl/ 

The Business Premises Support Scheme provides grant assistance to support local businesses in designated sectors that have been financially affected by the COVID-19 pandemic, who have been materially impacted by 25% or more over the course of the pandemic and operate from commercial business premises.

The BPSS operates in two parts:

• Part 1: Rates Payment Element
  Offers financial support in the form of a grant payment to eligible businesses in designated sectors, equivalent to the business' annual rates bill for each of its commercial premises.
• Part 2: £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 27th or Sunday 28th February 2021 in line with Government Coronavirus advice issued that weekend.

Businesses and self-employed individuals can apply for the BPSS by visiting: https://www.iomdfenterprise.im/financial-support/funding/cbss-bpss/

For the latest updates on Coronavirus in the Isle of Man, visit: www.gov.im/coronavirus