The SDLP’s Colin McGrath has called for further financial support to be made available to small family run businesses.
Mr McGrath said: “I welcome the recent grant schemes that are currently being rolled out across the north have provided much needed support for many of our businesses. xa0Unfortunately there are still businesses contacting me that have heard nothing back from the Department for the Economy about their application and that is disappointing to say the least.
for more support for small businesses.
“However, there exist a number of other businesses that did not qualify for any of the grants because their NAV was just a bit too high. xa0However, these are small, family run businesses that provide much needed employment in the local area.
“Some of them depend heavily on tourist trade – particularly those in Newcastle. xa0While none of us can say with certainty at what point restrictions will begin to be lifted the tourist season for towns like Newcastle has received a huge hit as a result of COVID-19.
“Therefore, I believe the Department for the Economy needs to make available further support for businesses such as this.
“I have since written to the Minister for Economy around this issue and she has confirmed that a further £40 million of support has been made available which will be focussed at providing support to those businesses across the economy who have not qualified for either of the business support grants. xa0
“I note a new scheme opened on Thursday 30th April pointed towards small businesses who were renting premises or had NAV under £1590.
The Department must act now to support those businesses who are slightly larger but who are still in real need of support, particularly those affected by the tourist trade.”
