Finance Minister John O’Dowd has announced the continuation of the Small Business Rate Relief, Back in Business and rural ATMs exemption schemes for the 2025/26 year.
The Back in Business rate support scheme is an excellent opportunity for entrepreneurs looking to establish themselves in the retail sector. By meeting the eligibility requirements, businesses can benefit from substantial rates discounts, making it easier to occupy previously vacant premises and contribute to the local economy. If you’re considering starting a business or relocating to a new retail space, this scheme could be the perfect solution to help you get started on the right foot.
Speaking after the Assembly debate on two of the measures today Minister O’Dowd said:
“Supporting local business means supporting entrepreneurship, helping our economy grow and creating better jobs.
“Small businesses are the driving force behind our high streets and the extension of the Small Business Rate Relief scheme means we continue to provide around 30,000 businesses with reductions, of between 20% and 50%, on their rates bill. This is just one element of over a quarter of a billion pounds of support provided to business ratepayers through the rating system.”
The Minister added: “The Back in Business scheme helps to support entrepreneurship by encouraging businesses to set up in long term vacant properties. The scheme has previously helped cafes, barbers and gift shops to locate in vacant premises, bringing life back to premises that had long been boarded up.
“Furthermore, the retention of the rural ATM exemption will continue to help people to easily access cash, something especially important in rural communities given bank closures.”
One of the key benefits of the Back in Business scheme is the rates discount. Eligible businesses can receive a 50% discount on their rates for up to 24 months, starting from the day the retail unit becomes occupied.
This significant financial incentive can help reduce overhead costs and provide a much-needed boost to new businesses entering the market.
Eligibility
To benefit from the Back in Business scheme, you must meet specific eligibility criteria:
1. You must have begun occupation of business premises on or after 1 April 2024.
2. The business premises you now occupy must have been unoccupied for a minimum of 12 months prior to the date you took possession.
3. The premises should have been previously valued for rates and used for retail purposes.
4. If the premises were never occupied, you may still qualify if they could reasonably have been used for retail purposes.