AQO 1829/09

Mrs Naomi Long
Alliance Party
East Belfast

Tabled Date: 06/01/2009
Answered On Date: 19/01/2009
Priority Written: No

Question:
To ask the Minister of Enterprise, Trade and Investment to outline what help she will provide to businesses that are being hit by the economic downturn.

Answer:

Members will already be well aware of the £45 million package of assistance announced by the Finance Minister in December, underlining the Executive's commitment to supporting our local businesses during the downturn.

Following on from this, I along with the Finance Minister, met representatives of the local banks last month to discuss their lending policies to businesses, and how they might make more use of the UK wide lending initiatives announced by the Chancellor in his Pre-Budget Report to help small businesses.

In partnership with Enterprise NI, District Councils and the NI Chamber of Commerce we have also now developed a further programme of business information seminars specifically focused at non Invest NI clients. This was piloted in Omagh last month and a further nine events will be rolled out across Northern Ireland during the remainder of January and in February.

In addition, the new “Beat the Credit Crunch” section of the nibusinessinfo website will be particularly helpful as it offers practical tools and guides on a wide range of key business activities.

All Northern Ireland businesses can also access the Carbon Trust's Interest Free Loan Scheme which aims to maximise energy efficiency. To date 24 applicants have received a total of £3.2m funding under this scheme, and 95 free energy efficiency surveys completed.

These initiatives are being undertaken in conjunction with the range of activity developed by Invest NI to assist its clients, including the fast track advice and support available through the £5m Accelerated Support Fund package, an increased on export support to exploit the current weaknesses in the exchange rate.

We therefore continue to work proactively our local companies and entrepreneurs to help minimise the impact of the current economic downturn and we will continue to develop further methods of support and assistance as necessary.