Armstrong and Co Accountants Fermanagh and Belfast wish to update customers on new Government announcement.
Prime Minister Boris Johnson has announced a £300 million funding pot for communities in Scotland, Wales and Northern Ireland. The funding pot has been pledged for Economic Growth Deals in regions of the UK.
The Federation of Small Businesses (FSB) has welcomed the new funding. The group have however warned the PM to avoid a no-deal Brexit. The FSB has urged that efforts be made to restore the NI assembly and executive. To ensure the region can be represented throughout this transition.
As some communities may be encouraged , and hopeful of a boost to the local economy. The FSB advice caution towards spending, ensuring maximum benefit is achieved. The FSB warns the Government that a no-deal Brexit may be catastrophic for some small businesses.
The group urged the government to do as much as possible to ease pressure on small businesses throughout the process.
With Mr Johnson now at the helm. And with the stated aim of ensuring Brexit by October 31. Brexit looms large for small business and may create pressure on SMEs. Mr Johnson has stated that the government are proceeding with the aim of reaching an agreement however implored the importance of being prepared for a no-deal Brexit.
Mr Johnson contends that the UK economy will improve its standing on the continent in the long term. Some small businesses may take little solace in this. The words of caution from the FSB appear to be embedded in very pertinent concerns.
The government have identified that they are supporting economic growth deals in Derry-Londonderry and Belfast. They also set out that they are supporting economic growth for mid-south west NI and Causeway Coast and Glens in particular.
The government are advocating that these deals offer significant investment for local businesses and projects.
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