COVID-19 Business and Financial Planning Support Programme for tourism industry

News article

The Minister for the Economy has launched a new Business and Financial Planning Support Programme from Tourism NI

The programme aims to help tourism businesses assess the impacts of COVID-19 and develop a strategic recovery plan.

    What assistance is available?

    This scheme will provide advisory support to tourism businesses to develop their recovery plans including:

    • a health check and financial plan
    • review of business model
    • identify funding shortfalls and/or debt restructuring

    Eligibility

    Who can apply?
    To apply, you must be an existing tourism business operating in Northern Ireland. The programme is open to the following sectors:

    • Private sector: Companies and other legal entities and individuals.
    • Voluntary/Community Sector: Community and not-for-profit bodies including companies limited by guarantee. Applicants from this sector will be required to have a charity number as evidence that they qualify for the status.

    Who cannot apply?
    The programme is targeted at tourism providers and the following businesses are ineligible under this programme:

    • sports clubs
    • business start-ups with the possible exceptions outlined at minimum eligibility criteria on the Tourism NI website (operational thresholds)
    • local authority or destination management companies
    • visitor information centres
    • shops, restaurants, bars, cafes etc.

    How can I apply?

    The programme is open for applications. You can apply for the programme online and through the following stages:

    • Stage 1: Complete the online expression of interest form - check your eligibility for the programme by reading the programme guidelines on the Tourism NI website. If you are eligible, you must then complete the online expression of interest form before 3 pm on 2 November 2020.
    • Stage 2: Complete the online application form - only applications submitted online to Tourism NI can be accepted. As part of the application process, you will be required to submit your most recent statutory accounts and up-to-date management accounts or bank statements. The closing date for applications is 5 pm on 30 November 2020.
    • Stage 3: Letter of offer and project delivery - successful applicants will be assigned an adviser to agree on the scope of the work. Once the scope is complete to the satisfaction of Tourism NI, a formal letter of offer will be issued outlining the agreed scope of work. Applicants will have two weeks to accept the offer. They will also have to complete the plan by 26 February 2021.

    Further information

    Read full details including eligibility and how to apply for the COVID-19 Business and Financial Planning Support Programme for the tourism industry.

    Invest NI COVID-19 Business and Financial Planning Grant

    The Minister for the Economy has also launched a £2 million COVID-19 Business and Financial Planning Grant from Invest Northern Ireland. It is targeted at businesses operating in the areas of manufacturing, construction, professional services and those involved in the information and communication sector, and in the science and technology sectors, as well as businesses which are already working with Invest NI.

    For full details see COVID-19 Business and Financial Planning Grant.