A scheme offering a 50% rates discount to help attract businesses into vacant town centre retail units has been relaunched.
The Back in Business scheme offers firms reduced rates or up to two years if they move into vacant premises that have been unoccupied for 12 months or more, and that were previously used for retail purposes.
The restoration of the incentive, which previously ran between April 2022 and March 2023, has been welcomed by the retail and hospitality industry.
Glyn Roberts of Retail NI said the scheme can help boost footfall and assist high street recovery, while Colin Neill of Hospitality Ulster described it as a positive step.
“As vacancy and dereliction have long been issues across the towns and cities of Northern Ireland, it is important to incentivise local operators to address this and, in turn, expand their offerings and contribute to the local economy,” he said.
Relaunching the scheme, Finance Minister, Dr Caoimhe Archibald said: “All of us want to see our town centres and shopping areas thriving.
“The Back in Business scheme aims to help bring vibrancy, footfall and investment back to our high streets while providing businesses with a boost at the start of their business journey, helping to support jobs and bring long term vacant units back into use.
“The difference a bustling business can make to a once empty property on a main thoroughfare is striking.
“I would urge anyone planning to start a business or expanding their existing business to consider setting up in an empty unit and avail of the rate support on offer through Back in Business.”
