Government helps more than 39,000 NI companies

More than 39,000 loans have supported businesses across all sectors, protecting jobs. But the retail and construction sectors have benefitted the most, demonstrating how government support helped those businesses that were impacted hardest by the pandemic.

Similarly, the Self Employment Income Support Scheme has benefitted business people across all sectors, with 70,000 people in Northern Ireland benefitting from SEISS, with an average claim of £2,500.

The Chancellor of the Exchequer, Rishi Sunak, said: “Throughout this crisis, we have provided more than £280billion of support to protect jobs and livelihoods up and down the country.

“We are committed to continuing to ensure jobs are protected and opportunity is created.”

Companies across Northern Ireland have benefitted from support through government-backed loans, including sauce distributor, Des Carson Limited, based in County Down.

Des Carson, company director, said: “Getting the Bounce Back Loan has meant that I can stay in business and keep my two workers in employment. It’s relieved a huge amount of stress for me, my employees and my suppliers. The process was a seamless one from beginning to end and I’d highly recommend that other businesses use the scheme if it’s the right fit for them. If I hadn’t received the loan, I’d have had to go heavily into an overdraft for the first time ever, which would have created a lot of problems with my supplier.”

Northern Ireland Secretary, Brandon Lewis, said: “We are continuing to support businesses across Northern Ireland with £1.6billion worth of loans offered under government schemes.

“Today’s figures demonstrate once again, the UK Government’s commitment to supporting jobs and citizens in Northern Ireland throughout the pandemic.”

At the start of Winter, the Chancellor announced that more than a million businesses who took out a Bounce Back Loan will now receive further protection from the Covid crisis through flexible repayments, under the new Pay as You Grow system, which gives businesses more time to repay. Since then, the Government has extended the loans schemes until March, and given businesses the ability to ‘top-up’ their loans if they need to.

The Government has invested more than £280 billion throughout the pandemic to protect millions of jobs and businesses, including extending the self-employed and furlough schemes through to April to give businesses the certainty they need to plan over the coming months.

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