Covid-19: Financial Support Packages
Over the past 12 months, BDO NI has been working with our clients to provide advice and signpost the most appropriate sources of support.
Events are moving rapidly, with new information and changes being brought in regularly as new announcements from the NI Executive and UK Government are made.
You can download our latest guides in relation to current financial support packages available for businesses and individuals below. Please contact a member of the team if you have any questions.
1. Current financial support for NI businesses and individuals (as at 23 March):
This guide contains information regarding a number of support packages including the Localised Restrictions Support Scheme, Covid-19 Restrictions Business Support Scheme Parts A & B, Restart Grants, Coronavirus Job Retention Scheme, Self employed grants, HMRC support packages and others.
2. New Government Backed Support Schemes (as at 7 April):
This guide contains information regarding a number of newly announced Government support packages including the Recovery Loan Scheme, Pay as You Grow Scheme and the Future Fund- Breakthrough scheme.
Accessing the support and next steps
It is therefore essential that proactive action is being taken by business owners to consider their financial position and establish what support they need and can avail of. We at BDO NI are working with businesses to assist in this process and to find practical solutions to protect staff and to preserve the underlying trades.
Engaging with your Bank
Communication is key and an open and transparent approach is the best option, particularly when engaging with Banks and other financial institutions.
The Banks have collectively pledged their support to the business community in this crisis, but there are still processes that need to be followed. In order to ensure that engagement with your Bank or alternative Funder is productive, we suggest that you adopt a structured approach based on the key issues that your business is facing, the 'BDO 5 point plan'.