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PRIVACY
Economic Development

Fin min begins 拢72M top-up payment to Northern Ireland businesses

Firms which remained open during lockdown will each receive a payout of up to £10,000

Finance Minister, Conor Murphy pictured with Glyn Roberts Chief Executive of Retail NI and Kieran Sloan, Managing Director of Sawers in Belfast which will benefit from a 拢10,000 top up grant. Photo by William Cherry/Presseye

Northern Ireland businesses which remained opened during the most recent lockdown are to receive a payout of up to £10,000 each from Stormont.

Totalling £72.3 million, the top-up grants – are aimed at the 13,000 businesses which didn’t qualify for support during the latest restrictions.

They include small and medium-sized companies such as convenience stores, hardware stores, bakeries, financial services, engineering firms, coach services and others.

A statement from the Department of Finance said Land & Property Services is undertaking verification work to ensure the occupiers of business properties have remained the same since the original grants were paid – once complete, further top up payments will issue.

Businesses which started trading after the application process for the £10,000 Small Business Support Grant and the £25,000 Retail, Tourism, Hospitality and Leisure Grant closed will also have the opportunity to apply online for the top up payment from late June.

Finance Minister Conor Murphy said he recognised that businesses which stayed open to provide essential goods and services during lockdown experienced a big fall in trade and footfall.

“This has been a positive week for the economy as relaxations have enabled businesses to reopen their doors and welcome back customers,” he said. “It is a positive step forward as we continue to make progress on our pathway to recovery.

“I recognise that it will take time for trading conditions to resume to pre pandemic levels. I hope the grant assistance provided by the Executive combined with the second year of the 12 months rates holiday and the full funding of the Economy Minister’s Economic Recovery Action Plan will help support businesses and economic recovery in the time ahead.”