AQW 3581/17-22

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 12/03/2020
Answered On Date: 08/06/2020
Priority Written: No

Question:
To ask the Minister for the Economy how her Department is supporting businesses, in particular small and medium enterprises and those businesses most likely to be impacted, in the event of a delay phase in response to COVID-19.

Answer:

The Department has launched three schemes to support businesses during the COVID-19 pandemic.

The Small Business Support Grant scheme provided a £10,000 grant to businesses who are in receipt of Small Business Rates Relief or Industrial Derating, and who have a Total Net Annual Value of £15,000 or below.

The £25,000 Retail, Hospitality, Tourism and Leisure Grant scheme provided a grant to businesses in those sectors who have a Total NAV of between £15,001 and £51,000.

The NI Microbusiness Hardship Fund opened on 20 May 2020 offering up to £10,000 of support to businesses with one to nine employees facing immediate cash flow difficulties due to Covid-19.

Further details on these scheme as well as UK-wide schemes such as the Coronavirus Job Retention Scheme are available at https://www.nibusinessinfo.co.uk/campaign/coronavirus-updates-support-your-business.