Dodds meets with federation of small businesses

Finance Minister, Nigel Dodds, today met with representatives from the Federation of Small Businesses (FSB)

Speaking after the meeting, he said: “I welcome this opportunity to meet with the FSB. In the present economic climate I am aware of just how tough things are for small businesses.

"This is why I announced my intention to introduce a small business rate relief scheme in December last year. I am fully aware of the importance of small businesses to the Northern Ireland economy and am keen to discuss the implications of the proposed scheme.

“The small business rate relief scheme will benefit some 16,000 small businesses here in Northern Ireland by £8million a year. This is a considerable investment by the Executive as we strive to strike the balance between raising money to help support local public services and supporting the local economy.”

The small business rate relief is one of a number of steps the Executive is taking to help businesses. Mr Dodds continued: “This measure forms part of the Executive response to the economic downturn. These are undoubtedly challenging times for the economy, but the Executive is continuing to deliver for local firms in a number of ways; through investing record levels of procurement spend, with 90% of contracts awarded to local firms; by freezing regional rates; by setting a target of paying invoices within 10 days to help firms’ cashflow situations and by looking at ways to streamline the tendering process for small firms bidding for Government tenders.”

The minister assured the FSB that he was keen to work with them on ways to stimulate the local economy and support small businesses.

Notes to Editors:

1. The Federation of Small Businesses is the UK's largest campaigning pressure group promoting and protecting the interests of the self-employed and owners of small firms. Formed in 1974, it now has 215,000 members across 33 regions and 230 branches.
2. Media enquiries to DFP Communications Office on 028 9052 7374 or 028 9052 27375. Out of office hours please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.