THE WELSH GOVERNMENT has today announced a package of support worth more than £200m for small businesses to help them during the coronavirus outbreak.
Retail, leisure and hospitality businesses in Llanelli with a rateable value of £51,000 or less will receive 100% business rate relief and pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bill.
A further £100m will be available for a new grant scheme for small businesses Further details on this new grant scheme will be confirmed as soon as possible.
Welcoming this announcement, Lee Waters MS, said: “I’m pleased that the Welsh Labour Government is offering this package of support to businesses as part of their response to the Coronavirus outbreak.
“They are doing everything they can to support businesses to deal with the impact of coronavirus. My advice to all businesses is to use the help and advice that is available.
“Any business affected should contact the Business Wales telephone helpline on 03000 603000. They can help with practical advice – from staffing to financial planning as well as supply chain support.
“The Development Bank of Wales is also available to help – it has equity and loan funding it can make available immediately to small businesses to help them through the cash flow and other challenges they may face in next, difficult, few weeks and months. The Development Bank of Wales can be contacted on 0800 5874140.”
Finance Minister, Rebecca Evans AM, said: “We are allocating every penny of the funding we will be receiving as a consequence of the schemes the UK Government announced in England last week to support businesses in Wales.
“But I know that helping businesses with their rates bills will not be enough to protect them from the severe drop in custom many are experiencing as coronavirus cases increase.
“We will be calling on the UK Government to act quickly and decisively to provide a very significant support package for vulnerable businesses and their employees.”
Please find below links to current information issued that you may find useful for your business and continuity.
A number of announcements were made in the March 2020 Budget including financial support that businesses can expect to access:
https://www.gov.uk/government/news/coronavirus-covid-19-guidance-for-employees-employers-and-businesses
In terms of Department for Work and Pensions support for employers, here is a useful link (via GOV.UK): https://www.gov.uk/government/news/coronavirus-support-for-employees-benefit-claimants-and-businesses?utm_source=37472ed5-c0b4-4625-8801-549259dc908d&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate
Further and complementary advice can also be found on the Business Wales Website: https://businesswales.gov.wales/coronavirus-advice
Visit Wales also provide some specific advice for tourism businesses regarding the situation. This can be found by following:
https://content.govdelivery.com/accounts/UKWALES/bulletins/280805d
We should all help protect ourselves and our communities by following Public Health Wales advice at: https://phw.nhs.wales/coronavirus
There is also updated information regarding the virus on the Welsh Government website. Please view: https://www.gov.uk/government/publications/coronavirus-action-plan
We are also starting to see banks such as Lloyds offering support via low interest loans sources. We will update this information as further opportunities come forward.
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