Retail NI Welcomes £40m micro business hardship fund

The NI executive has approved a £40m support scheme for small businesses which have not so far qualified for coronavirus grant support.

Further details on eligibility and application processes are due to be announced next. week.

Reacting to the announcement, Retail NI Chief Executive Glyn Roberts said: “This is a further positive development as many local micro businesses have been unable to access the existing Small Business Grants.

“However, while this is welcome progress, we still have no confirmation when the £10k and £25k small business grants will be altered to support those independent retailers and other small businesses who own multiple premises.

“At present, Northern Ireland is the only part of the UK where this does not apply and Retail NI is keen for a commencement date locally,” Mr Roberts continued.

“This change would support front-line independent retailers who have more than one store and who continue to provide food and other essential products to consumers. It would also assist those independent retailers who have had to close their doors during this crisis.”

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