FINANCIAL SUPPORT SCHEME For self-employed, micro and small businesses in the Hair & Beauty service sector “LIFELINE SUPPORT FOR BUSINESSES - II”

The financial support scheme, “Lifeline Support for Businesses” with a total budget of €3 million was launched for self-employed, micro and small businesses in the food & beverage services sector, as part of a larger economic support package funded by the European Union. The scheme will help to address potential cash flow difficulties due to the impact of the COVID-19 pandemic.

This Financial Support Scheme funded by the European Union will provide financial support to qualifying sector-specific self-employed, micro and small businesses to address potential cash flow difficulties due to the impact of the COVID-19 pandemic. This scheme will be open to all self-employed, micro and small businesses that are members of 'TC Chamber of Shopkeepers & Artisans (KTEZO)' and/or 'TC Chamber of Commerce (KTTO)' and who meet the scheme criteria. The scheme will be managed by Northern IrelandCooperation Overseas (NI-CO), in cooperation with the TC Chamber of Shopkeepers & Artisans, TC Chamber of Commerce and YAGA through the ‘Innovative Entrepreneurship and Dialogue’ Project implemented by NI-CO and financed by the European Union.

The purpose of this financial support scheme is to support a “kick-start” of the economy and prevent otherwise viable self-employed, micro and small businesses from being forced to close. This will be achieved by distributing financial support to the qualifying self-employed, micro and small businesses in the Hair and Beauty service sector across the Turkish Cypriot community. Hair and Beauty service sector will be the only eligible sector within the scope of Financial Support Scheme Lifeline Support for Businesses – II.

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