Urgent Financial Assistance Introduced For Taxi, Bus & Coach Firms

New bespoke financial packages are going to be introduced as a matter of urgency for the taxi, private bus and coach industry in Northern Ireland, as ministers admit that a rapid injection of funds is the only way to keep some of the firms in this sector afloat over the next few months.

Financial Package For Transport Industry

The new financial package will go alongside the existing Executive schemes which are at present being progressed to all sectors of the economy. The transport industry has been particularly hit during the pandemic as demand has dived with First Minister Arlene Foster quoted on the Belfast Live website as saying:

“Covid-19 has had an enormously damaging impact on all sectors of business and services.

“The operators of taxis, private buses and coaches have faced a significant reduction in demand for their services, yet their overheads have continued. It is absolutely right that they should be able to avail of financial assistance to sustain them through this difficult time and I hope they will take some comfort in the knowledge that support will be forthcoming.”

Providing Support To Businesses & Workers Affected

Also Deputy First Minister Michelle O`Neill is quoted in the same article saying:

“The Executive is committed to providing all possible support to businesses and workers affected by the Covid-19 pandemic.

“The taxi, private bus and coach sectors have been negatively impacted through loss of earnings, and many have shouldered the cost of implementing safety measures to ensure the safety of their customers. I’m pleased that the Executive’s support schemes will soon include a bespoke funding package to alleviate the hardship being faced by workers in these sectors.”

Many Sectors Badly Hit By The Pandemic

Of course this sector is not the only one which has been hit badly by the coronavirus crisis and the fallout from it. The hospitality and entertainment sectors have been decimated by it and there does not look like there is much good news on the horizon, albeit there has been a recent leveling out in the rates of infection which may prove to be significant as time goes by.

At WHR Accountants we can endeavour to help businesses secure the business funding they need right now, so if your business is in need of some assistance in this area then please give our offices a call as we would love to talk to you. You can reach us on 028 3752 2909.