£150 million grant support reaching businesses with more to come
Businesses have received almost £150m in support grants in the first week of the business support scheme.
First Minister Mark Drakeford today thanked local authorities for their help making the grants quickly available to small businesses affected by the coronavirus pandemic.
Almost 11,000 firms have received funding which will be vital in helping them deal with the impact of the virus.
More businesses will receive emergency coronavirus grants through their local authorities, which are distributing the funding on behalf of the Welsh Government.
Retail, leisure and hospitality businesses in Wales occupying properties with a rateable value of between £12,001 and £51,000 will receive a grant of £25,000.
A £10,000 grant will be available to thousands of businesses in Wales, which are eligible for small business rates relief and have a rateable value of £12,000 or less.
The Welsh Government has committed a £1.7bn package of support for businesses to help see them through the coronavirus pandemic – this includes grants for small businesses and a year-long rates holiday.
First Minister Mark Drakeford said:
“This is a very tough time for businesses in all parts of Wales and as a government we are absolutely committed to supporting them in dealing with the outbreak of coronavirus.
“The package of support we have announced is wide-ranging and will be vital in getting the business community through this difficult period.
“Thousands more businesses will receive grants as they are processed and all who are eligible will be supported.
“Local authorities are doing an absolutely incredible job in ensuring firms receive these grants and I’d like to thank them for rising to the challenge and doing all that they can to get money out quickly to those who need it.
“The Welsh Government will continue to do everything possible to help businesses handle the impact of the virus and recover.”
Economy, Transport and North Wales Minister Ken Skates said:
“We made a commitment to cut the red tape and get funds out to businesses quickly and I am pleased we are doing exactly that.
“These grants are going to be crucial for businesses to deal with a time like we have never experienced before.
“There is a flow of funding reaching more businesses by the day and that will carry on as local authorities continue working hard to get it out of the door and to those in need of it.”
Councillor Anthony Hunt, Welsh Local Government Association Finance Spokesperson said:
“Local authorities in Wales are working hard to get money out of the door to small businesses. No one understands their importance to the local economy more than elected members or the dedicated officers who are pulling out all the stops to administer these support packages at a time when our businesses are most in need. I would urge any firms who wish to apply for this support to do so online at the earliest opportunity.”
Information needed to access these grants is available on-line at the Business Wales website which links directly through to the relevant page on each local authority’s website: https://businesswales.gov.wales/financial-support-and-grants