Do more to help small firms, says Sugden as stats show nearly 2,500 faced bankruptcy since 2016
More must be done to help small business owners in Northern Ireland avoid bankruptcy, Claire Sugden has said.
The East Londonderry independent MLA made her plea to government after new figures show that nearly 2,500 bankruptcies or winding up orders have been issued since 2016.
Ms Sugden, who sits on Stormont’s economy committee, said the survival of small and medium enterprises is particularly important in Northern Ireland where the economy is “overwhelmingly powered by larger numbers of SMEs compared to other parts of the UK”.
“There have even been some companies and sectors that have been able to grow during the pandemic, including those involved in healthcare supplies like PPE, and internet-based firms able to offer remote working ... but often this is only possible if the benefits of government investment are afforded to smaller companies and sole traders.
“Northern Ireland has a great pool of talent and skills, which can in turn create economic benefits for everyone with the right support.”