The Jobs Fund
Available to small businesses and business start-ups, a number of changes have recently been made to the Jobs Fund scheme to make it even easier for companies to employ additional staff, These include:
- An increased level of grant support for up to £50,000; and
- The introduction of a new “slimmed down” application submission process.
The fund covers all businesses operating in the Manufacturing and Tradable Services sectors and is applicable for projects where the median salary (mid point) is below the private sector median of £18,283.
The normal Invest NI client eligibility criteria applies, as follows:
Business Start Up / Early Stage Development (< 2 years)
- Manufacturing and internationally Tradable Services
- Capability to grow in external markets
Established Businesses
- Manufacturing and internationally Tradable Services
- Capability to grow in export markets
Businesses have or within 3 years will achieve
- sales of over £100,000 per annum; and
- external sales (i.e. outside Northern Ireland) greater that 25% of turnover or greater than £250,000 per annum
For service-type businesses
- knowledge intensive with a minimum gross margin of 20%
(Generally excludes locally focussed businesses, Retail, Primary Agriculture, Wholesale/Distribution).
If successful, employment grants will be paid out in one instalment after one month (previously six months) of the project start date in a single 100 per cent claim. (See Table below).
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Annual Basic Wage (£)
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Maximum Employment Grant (£)
Small Medium Large
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< £13,999
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Up to £3k, £3k £3k per new job
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£14,000 – £15,999
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Up to £5k, £4k £4k per new job
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> £16,000
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Up to £7k, £6k £5k per new job
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All jobs created under the scheme must be sustained for 5 years.
Your local client executive at Invest NI can provide you with more details on this fund and other programmes. See www.investni.com. You can view more information on the Job Fund here.
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