Recovery boost for businesses

A new £1million Digital Selling Capability Grant to help retailers and wholesalers generate business online, and a £5million Equity Investment Fund targeted at early stage and seed stage SMEs, have opened for applications.

The schemes, operated by Invest Northern Ireland, are the first of a number of new initiatives being developed by the agency to help companies respond to a new business environment in the wake of Covid-19.

MEA Mayor, councillor Peter Johnston said: “The two new recovery schemes announced by the Economy Minister are very welcome news for our retail and wholesale businesses.

The Digital Selling Capability Grant will provide practical support for those hoping to take their business online, a key way for businesses to adapt to the current climate, continue to sell to their customers, grow their markets and remain competitive. The Covid-19 Equity Investment Fund will be a great help for early stage SME’s within the borough to access vital finances to develop and grow their businesses at this very challenging time.”

The Covid-19 Digital Selling Capability Grant will provide a maximum grant of £20,000 to eligible small and medium-sized retailers to support 50% of eligible costs. Projects must have a minimum eligible expenditure of £10,000. Full details on the scheme and eligibility criteria are available on www.nibusinessinfo.co.uk/dscg. The Covid-19 Equity Investment Fund will provide matching equity investment or convertible loan notes of up to a maximum of £700,000 for technology and innovative businesses. Full scheme details and eligibility criteria are available on www.nibusinessinfo.co.uk/ceif

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