Stormont small business role for East Antrim MLA

The newly-reconstituted All Party Assembly Group on Micro and Small Business met recently and heard concerns from entrepreneurs about the cost-of-doing-business crisis as well as the loss of EU structural funding.

Mr Stewart said: “This is an incredibly difficult time for our small and micro businesses right across Northern Ireland. As well as being the new chair of the APG on Micro and Small Business, I also have personal experience as a director of a small, family-owned business and know well the challenges that entrepreneurs face.

"I am committed to working with parties across our Assembly to deliver solutions and supports which will ease the current cost-of-living crisis as well as other challenges including the replacement of EU funding and supporting Enterprise NI’s proposed new service for entrepreneurs and start-ups.”

Enterprise NI, which works with more than 4,000 micro and small businesses, is facilitating the cross-party body and has warned that uncertainty over the replacement of EU funding risks creating a cliff edge for existing business and budding entrepreneurs.

EU funds played a key role in supporting enterprise agencies to provide start-ups with the training, tenancies, and advice and guidance they require to help them achieve their business ambitions. Enterprise NI has highlighted that the proposed replacement, the UK Shared Prosperity Fund, is not as substantial as previous EU funding and warned that enterprise and local entrepreneurship will be among the hardest-hit casualties if it is not distributed effectively.

The group will meet on a regular basis to discuss issues affecting small and micro businesses across Northern Ireland.

Michael McQuillan, chief executive, Enterprise NI, said: “Northern Ireland is a small and micro business economy at its core, and it is vital that our SMEs and entrepreneurs are fully cherished and supported. We have over 120,000 small and micro businesses operating across this country which provide jobs and sustain livelihoods for hundreds of thousands of us.

"The current trading environment, however, is extremely hostile to small businesses with the cost of doing business squeezing start-ups out of the market before they even get off the ground. The reconstitution of the APG on Micro and Small Business comes at a vital time.”