Economy Minister Diane Dodds announced yesterday that £40 million is to be made available for a new Hardship Fund aimed at microbusinesses in N. Ireland which have not been able to avail of the existing support schemes (i.e. the £10,000 and £25,000 grant schemes) and which require financial support due to the impact of COVID-19.
It is estimated around 8,000 businesses across Northern Ireland will be eligible.
Social enterprises and charities will be able to access the fund if they meet the eligibility criteria.
Details on the scheme including eligibility criteria and arrangements for applying are to be released next week.
Mrs Dodds has said “This fund should mean that around a third of all businesses in Northern Ireland will now be able to access support under the Northern Ireland COVID-19 grant schemes.