Coronavirus: Business hardship fund could be out next week

Image source, Getty Images

Image caption, Economy Minister Diane Dodds says a fund to help businesses which have fallen through the cracks has been identified
  • Author, Richard Morgan
  • Role, 91热爆 News NI business reporter

The economy minister has said she hopes to get a hardship fund for business 鈥渙ut next week鈥.

Speaking on 91热爆 Radio Ulster鈥檚 Inside Business programme, Diane Dodds said some businesses have been unable to access any government assistance.

A budget has been identified to help those firms falling through the cracks. during the coronavirus crisis.

鈥淲e are doing a significant amount work of work in relation to that," Mrs Dodds told the programme.

"It鈥檒l be targeted at smaller and micro businesses and people who have not managed to be part of the small 拢10,000 grant scheme.

鈥淲e are hoping to get that out next week."

Belfast Chamber has welcomed the news.

'In terrible straits'

Applications for grants of 拢25,000 for the tourism, hospitality and the retail sector opened on Monday.

The minister said a small portion of the grants were paid on Friday afternoon.

Image source, PAcemaker

鈥淚 promised that as soon as we could pay those grants we will do it and I will keep the pressure on to make sure that happens.

鈥淚 understand that people are in terrible straits,鈥 she said.

Rates Relief

The minister also said she supports an extension of rates relief.

鈥淚f it has to be targeted support [for tourism] then this is a section of the economy that needs this.

鈥淚 have spoken to the Hotel Federation and I understand that鈥檚 where the most significant help could come for them.

鈥淚 hope we will be able to get more and further targeted support out in the next couple of weeks,鈥 Mrs Dodds said.