• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today!  028 3752 2909 or 028 8778 9500

  • Facebook
  • LinkedIn
  • Twitter

WHR Accountants

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH

Mobile Menu

  • HOME
  • ABOUT
  • OUR TEAM
  • SPECIALIST SERVICES
    • Audit & Assurance
    • Accountancy
    • Book Keeping
    • Computerisation
    • Payroll Services
    • Business Development & Start-up
    • Tax
    • VAT
    • Business Information Systems Support
  • BECOME A CLIENT
  • BLOG
  • VACANCIES
  • CONTACT
  • SEARCH
  • Facebook
  • LinkedIn
  • Twitter
Home » Blog » New Funding To Support Small Businesses Announced

New Funding To Support Small Businesses Announced

November 19, 2023 By //  by Des Ingham Leave a Comment

The British Business Bank has announced a new £70m fund to support small businesses in Northern Ireland. Called the Investment Fund for Northern Ireland, it has been set up to help support innovative business ideas and create local opportunities for new and scaling businesses who have had problems getting funding to back them in previous years.

Funding Could Prove A Real Lifeline

This funding could prove to be a real lifeline for so many businesses. Business owner Sarah-Jayne Murray received a start-up loan and is quoted in an article on the BBC News website as saying:

“It allowed me to get more stock to sell to my customers,” she said.

“My finances were all over the place, and I had quite a small fund so it was like pushing limits to try and get the stock to get things going.

“It was a really big struggle. I have to pay for the full order before I can get it delivered to my door.

“With customs and VAT, you were hit with a large sum for that coming into the country. It was a lot of money to pay out before I had a product to sell to my customer.”

Helpful With Their Payment Plans

And in the same article Ms Murray, who runs sustainable active wear company Vocus Vit and received a £10,000 start-up loan from the British Business Bank, said:

“You have to pay it back but they’re quite helpful with their payment plans,

“I had to wait about three months before the stock arrived and they helped me with the first three months before I got the ball rolling.”

And finally Louis Taylor, chief executive of the British Business Bank, explained why this funding was so important to the company, saying:

“We know Northern Ireland is home to some excellent business owners who have innovative and brilliant ideas. But we also know that accessing finance for some of these people can be a struggle and that this part of the UK has experienced a funding gap.

“Getting outside Belfast and into more rural areas so there is a levelling up of finance opportunities is something which is very important to the British Business Bank.”

It is good to see companies such as the British Business Bank taking active roles in supporting small businesses in Northern Ireland and it is particularly encouraging to see them coming to the aid of businesses off the beaten track in small towns and rural areas across the country.

Category: General

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

This is a very useful Call To Action in the “After Entry” widget area. You can put whatever you’d like in it, and change the background color to whatever you’d like.

You May Also Be Interested In:

Extra £2.6 Billion Of New Capital Announced To Help Fund Growth

Funding Package Announced To Support Employee Ownership In NI

Private Sector Back In Growth Mode In May

Accountancy Body Calls For More Competitive Rate Of Corporation Tax

Don’t Go It Alone: Why An Accountant Is Your Best Ally For Making Tax Digital In 2026

Soaring Costs Hit Hospitality Sector Hard

Northern Ireland Energy Summit Back For A 2nd Year

Beyond The Fee: How An Accountant Can Save You Money On Your Taxes

BGF To Play Its Part In Supporting Businesses Across The UK With Funding

Previous Post: « 100% Rates Relief Offered To Businesses Seriously Affected By The Floods
Next Post: Stricter Tax Checks Now In Force For Taxi Drivers »

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

WE PROMISE YOU:

If you are finding the current economic situation tough, then rest assured, we understand the pressures you face as a business owner or manager. You don’t have to face the future alone. When you choose WHR, you have an ally, a partner, a friend, in both the good times and the tough times.

028 3752 2909
028 8778 9500

RECENT POSTS

Job Retention Scheme – Update

Dear Payroll Client We are trying to continue to run our …

Extra £2.6 Billion Of New Capital Announced To Help Fund Growth

In welcome news yesterday (Mon June 23rd), the Secretary of …

Funding Package Announced To Support Employee Ownership In NI

The Economy Minister Dr Caoimhe Archibald shrewdly chose …

Private Sector Back In Growth Mode In May

The latest survey from Ulster Bank has revealed that the private …

Accountancy Body Calls For More Competitive Rate Of Corporation Tax

A new report compiled by Chartered Accountants Ireland, entitled …

Don’t Go It Alone: Why An Accountant Is Your Best Ally For Making Tax Digital In 2026

The UK's tax landscape is undergoing its most significant …

Footer

Director

James Robinson

Head Office

WHR Chartered Certified Accountants
028 3752 2909 or 028 8778 9500

56 English Street,
Armagh
BT61 7LG

Contact Us

Contact our office today. Our team are ready to help you. There is no better time than now.
Click Here →

Follow Us

Keep up to date with our social media

  • Facebook
  • LinkedIn
  • Twitter
  • Blog
  • Specialist Services
  • Privacy Policy

Website created by ZebWeb