20 MILLION POUND SUPPORT SCHEME FOR COMPANY DIRECTORS ANNOUNCED
14 January 2021
Reacting to the announcement of a £20m support scheme for company directors by Economy Minister Diane Dodds MLA this afternoon, Colin Neill, Chief Executive, Hospitality Ulster said:
“We welcome the announcement today from the Economy Minister which acknowledges the fact that company directors, especially in the hospitality sector, have fallen through the gaps and been excluded from the wider Covid-19 funding packages. We at Hospitality Ulster will be encouraging all company directors eligible to apply for the funding when the scheme opens next week.”
“Unfortunately, in reality, this is a small amount of grant funding per director and in our sector will only plug some of the gaps in the huge debts run up by hospitality business owners who have been severely impacted by lockdowns and restrictions.”
“As this third lockdown continues, there now must be recognition and further funding for company directors and business owners that the hospitality industry has been effectively closed since March of last year – particularly the non-food serving pubs. Today’s funding announcement is a welcome step forward, but there is much more action required to support the sector in the months ahead.”
“We continue to press for urgent payment of all grants and the outstanding large hospitality grant support which has still not appeared.”
- £20million will be available for the Limited Company Directors Support Scheme (LCDSS).
- The scheme will open for applications at 6pm on Thursday 21 January.
- A £1,000 grant will be paid to eligible limited company directors.
- At scheme closure, any underspend will be distributed equally amongst approved applicants in the form of a top-up grant, up to a maximum of £3,500.
- The scheme will be delivered by Invest Northern Ireland on behalf of the Department for the Economy.
- Please CLICK HERE for more information and eligibility criteria for the scheme.