short term aid to retain staff

Short Term Aid Scheme
Financial help for your business
The Short Term Aid Scheme launched by Invest Northern Ireland aims to provide eligible businesses with financial assistance to enable the retention of key staff while businesses plan, and where necessary, restructure for the future so they are ready to take advantage of the upturn.

Who can apply?
The Short Term Aid Scheme is open to small, medium and large businesses in the manufacturing and tradeable services sectors which were not in difficulty prior to 1 July 2008 and which, although fundamentally viable, are experiencing short term difficulties.

To be eligible for the scheme businesses must also be able to meet or have the potential to meet both the following criteria by 31 December 2010:

total sales of over £100,000 per annum
sales outside Northern Ireland greater than 25 per cent of turnover or greater than £250,000 per annum
Businesses eligible to apply must also be able to demonstrate a need for support and any actions already taken to address its current difficulties.

How does the support work?
The Short Term Aid Scheme is available from 1 June 2009 until 31 December 2010. The maximum support available per business is €5000,000, or approximately £450,000 at the current exchange rates, less any other De-Minimis Aid offered between 1 January 2008 and 31 December 2010.

Financial assistance will be offered to eligible businesses by way of a grant for salaries to maintain key skills within their workforce. There will be three rates for grant support:

80 per cent for small businesses
70 per cent for medium sized businesses
60 per cent for large businesses
Application form and further information
You can access the application from and further information on the Short Term Aid Scheme using the links below:
go to www.investni.com