Coronavirus: Business hardship fund could be out next week

Economy Minister Diane Dodds says a fund to help businesses which have fallen through the cracks has been identified

The economy minister has said she hopes to get a hardship fund for business “out next week”.

Speaking on BBC Radio Ulster’s 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.

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

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

“We are hoping to get that out next week."

Belfast Chamber has welcomed the news.

'In terrible straits'

Applications for grants of £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.

“I 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.

“I understand that people are in terrible straits,” she said.

Rates Relief

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

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

“I have spoken to the Hotel Federation and I understand that’s where the most significant help could come for them.

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