Further financial support for flooded businesses announced
Details of further financial support for businesses severely affected by the flooding in late October and November have been announced by the Northern Ireland Civil Service (NICS).
A spokesperson for the Executive Office said: “Since the Secretary of State announced that up to £15 million would be made available to fund a response to the flooding, eligible businesses impacted by flooding have received a £7,500 grant.
“They will also receive 100% rates relief up to 31 March 2024 for flooded properties and temporary accommodation.
“We have been working closely with the local councils in the affected districts to develop a proposal to support the businesses which were most severely affected.
“We want to provide support that will help businesses to re-open and resume trading or remain open and continue trading, and to help secure the economic future of the town centres affected by the flooding.”
Up to £10 million is now being made available which will be targeted at assisting small and medium sized businesses.
The support will be linked to the actual costs incurred by businesses in relation to the replacement of damaged or destroyed equipment, refitting of flooded property and repair of damage to buildings.
Up to £100,000 per business would be available.
In order to qualify for this support, businesses must have:
- been open and trading on the date of the flooding,
- either unable to obtain insurance cover against flooding through no fault of their own or their insurance company has subsequently refused to pay out on damage caused by the recent flooding and,
- the business must continue trading, or resume trading, in the same town centre.
The funding will be administered by district councils on behalf of the NICS. Further information on how to apply for the support will be available in early January.
Brown welcomes further funding for flood-hit businesses
South Down MLA Patrick Brown has welcomed an Executive Office announcement that a further funding round for flood-impacted businesses will open in January.
Over 200 businesses across NI, particularly in Downpatrick, Newry and Portadown, faced unprecedented flooding for several days around the Halloween period.
Mr Brown said many businesses are still struggling to recover, with many not yet able to open their doors due to the damage.
He said that so far, rates relief has been applied to these businesses and many were able to apply for a £7.5k grant.
However, with the estimated economic impact of the flooding well into the tens of millions, and many excluded from the criteria attached to this initial funding, it is clear more needs to be done to provide financial support to businesses.
Welcoming the announcement, Patrick Brown said: “In November the Alliance Party wrote to relevant agencies outlining our priorities for how the remainder of the £15m flood recovery fund should be spent.
“I am pleased that the Executive office has an announced a fund very close to what we proposed, specifically a grant fund of up to £100k, based on need for those worst impacted by flooding.
“Businesses will need to evidence their losses, applications will open in January, and all money must be spent by the end of the financial year.
“There still remains a number of important questions we are seeking clarity on, and this includes whether stock and loss of revenue can be included in calculations (early indications are that only equipment, fixtures/fittings and cleaning/relocation costs will be covered).
“Also how we can ensure businesses excluded from the £7.5k grant are included.
“After a positive meeting with Acting Permanent Secretary for Economy Ian Snowden this morning, I was encouraged that his department will be looking into these issues.
“Many businesses who have insurance still face significant losses over and above what they are insured for, and it’s important that this is taken into account in any further scheme.
“Additionally, there are a number of businesses who were excluded because they were not yet trading, are charities or did not have internal flooding.
