CBI NI responds to new executive financial support measures

Angela McGowan, CBI Northern Ireland Director, said:

“Targeted business support alongside the phased re-opening of the economy is warmly welcomed. It’s in everyone’s interests to ensure our hardest hit firms can survive until restrictions ease and economic activity starts bouncing back. Fast delivery is going to be as critical as the support itself.

“After nearly a year battling the pandemic, companies have faced the rising cost of doing business – from purchasing PPE and rapid testing kits for staff, to increased sick pay costs and equipping people to properly work from home.

“Now business rates support has been extended to 12 months, it will provide greater financial certainty for local firms. Business grants have also been a lifeline for many small businesses, especially those that are only partially opened and experiencing low volumes of trade. Continued grant support will be necessary for struggling sectors including hospitality, tourism and retail, who are operating in an extremely challenging economic environment.”