Micro-business Hardship Fund closes to applications on Friday

The scheme is for businesses with one to nine employees facing immediate cash flow difficulties due to Covid-19 – including eligible social enterprises.

The Minister said: “This fund will provide much-needed support to micro-businesses so I would urge any business owners who think they may be eligible to apply before the closing date.

“This short term financial support will be vital for many businesses as we work towards the recovery of the Northern Ireland economy.”

The level of Hardship Fund grant will be up to £10,000 for businesses which pay business rates on premises and up to £5,000 for those that do not pay business rates. Businesses within each category will receive the same amount.

To be eligible, businesses must have experienced a reduction in turnover in excess of 40% since 1 March 2020 as a direct result of the Covid-19 pandemic or associated government restrictions.

For eligible businesses which are social enterprises without charitable status, at least 60% of their revenue must come from trade in goods and/or services.

Invest Northern Ireland is assessing applications, undertaking appropriate checks and processing payments.

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

In order for us to continue to provide high quality and trusted local news on this free-to-read site, I am asking you to also please purchase a copy of our newspaper whenever you are able to do so.

Our journalists are highly trained and our content is independently regulated by IPSO to some of the most rigorous standards in the world. But being your eyes and ears comes at a price. So we need your support more than ever to buy our newspapers during this crisis.

With the coronavirus lockdown having a major impact on many of our local valued advertisers - and consequently the advertising that we receive - we are more reliant than ever on you helping us to provide you with news and information by buying a copy of our newspaper when you can safely.

You can also enjoy unlimited access to the best news from across Northern Ireland and the UK by subscribing to newsletter.co.uk

With a digital subscription, you can read more than five articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.

Thank you