The Welsh Government is today announcing a package of support worth more than £200m for small businesses to help them during the coronavirus outbreak.
Retail, leisure and hospitality businesses 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.
Announcing the decision, Finance Minister Rebecca Evans said:
“I’m pleased we can offer this package of support to businesses as part of our response to the coronavirus outbreak. 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.”
Ken Skates, Minister for Economy, Transport and North Wales, said:
“As a Welsh Government we are doing everything we 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 otherwise healthy small businesses to 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.”