Fisheries support scheme
About the scheme
The fisheries industry and its ability to continue in its current form is severely affected by the UKs exit from the EU and ongoing impacts of the COVID-19 pandemic. The impacts include significant disruption to key markets reducing demand for product and reduced access to traditional markets.
This scheme is designed to provide interim financial support to the Island’s marine sector through the provision of funds to underwrite a proportion of fixed costs and provide salary support.
This support will be available for a limited period for those businesses most severely impacted by the changes to the trading conditions, as assessed by a detriment test.
Principles of the scheme
The Fisheries Support Scheme (the ‘Scheme’) is not intended to substitute lost earnings or underwrite operating costs indefinitely. It seeks to balance support with shareholders and owners so that businesses can continue to trade once restrictions are lifted.
This support scheme focusses on preserving businesses which are core to Jersey’s marine industry. It is a scheme of last resort to support business up to the point of break-even on trading in 2021, it is not intended to underwrite profit.
The objective of the scheme is to ensure that Jersey maintains the core infrastructure and critical mass of the marine sector to continue to operate in a sustainable and economically viable manner.
Scope of the Scheme
The Scheme is designed to preserve businesses that form a key part of the marine economy ecosystem.
The scheme will support businesses (corporate or sole traders) which derive more than 50% of their income directly in activity related to:
- Capture fisheries
- Aquaculture and marine based farming
- Merchants; who have the majority (>50%) of trade derived from export of local capture fisheries and aquaculture products
Delivery of support
The Scheme will be delivered in two parts:
- Salary support will be provided for the industry for the period May 2021 to end of August 2021. This will be delivered via the existing mechanism for Co-Funded Payroll Support, with applications through Customer and Local Services. A link to the application form for salary support will be emailed to all eligible companies to enable them to claim.
- Fixed costs support a scheme to underwrite up to 80% of fixed costs incurred by qualifying businesses and you can apply through the Business Health Check here.
Fisheries Support Scheme fixed cost guidance