Finance Minister Conor Murphy has just announced a business support package worth £213 million.
This includes a £95m million High Street Voucher Scheme utilizing a pre-paid Card. We welcome this scheme while we await the actual details of how it will be implemented.
There is a further £55 million to extend the Localised Restrictions Support Scheme to include non-essential retail, leisure, and entertainment businesses now forced to close.
£20 million to support company directors.
£20 million to extend the 12-month rate holiday to the manufacturing sector.
£10.6 million to support 1,000 ‘wet’ pubs; £5 million to top up the Tourism and Hospitality Scheme; £4.1m to help B&B providers who missed out previously.
It will provide £3 million to help local businesses grow their online sales.
There is also £150 million being held centrally for potential longer-term support with business rates.
Newry BID welcomes this additional financial intervention at this extremely difficult time for businesses. Our priority however remains to get this much-needed finance into business accounts.
There are many organizations that have yet to receive the first round of funding support.
We will be lobbying to ensure that this process is significantly sped up as we make our way towards a second lockdown.
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