AQW 4324/17-22

Mr Stewart Dickson
Alliance Party
East Antrim

Tabled Date: 28/05/2020
Answered On Date: 08/06/2020
Priority Written: No

Question:
To ask the Minister for the Economy whether she intends to bring forward support for businesses where the sole employee is the business owner or company director.

Answer:

At present there are no plans to bring forward specific support for those businesses mentioned.

To date, almost £300 million of support has been provided through the £10,000 Small Business Support Grant scheme and the £25,000 Retail, Hospitality, Tourism and Leisure Grant scheme. Both schemes were available to businesses who met the scheme’s eligibility criteria.

I am aware that there are self-employed people who may not be able to avail of these schemes, such as those not operating out of business premises. Others may not be eligible for the Microbusiness Hardship Fund as they do not employ other people. I, along with my Executive colleagues, will continue to explore if further funding can be identified to help support as many local businesses as possible during this difficult time.

Many other means of support are offered on a UK-wide basis. The Chancellor has announced the Self-Employed Income Support Scheme. This offers 80% of trading profits up to a maximum of £2,500 per month for 3 months. Other support is available such as the Bounce Back Loan scheme, HMRC’s Time to Pay and Income Tax Deferral. Further details are available at https://www.nibusinessinfo.co.uk/business-support/coronavirus.