The Welsh Government has confirmed that, pending the outcome of the next review on 12th March, a further £150 million in coronavirus grants could be available to firms, including micro-businesses. This allowance will be available through the Welsh Government’s Non-Domestic Rates scheme.
It has also announced a further £30 million for hospitality, leisure and tourism businesses affected by these ongoing restrictions.
Hospitality And Leisure Sector Support
The latest round of the Welsh Government’s Economic Resilience Fund will make £30m of targeted support available. It would help small, medium and large businesses in the hospitality, leisure and tourism sectors. The related supply chain businesses would also receive the support.
The funding targets businesses employing 10 or more staff. This figure is in recognition of the relatively higher level of operating costs that these businesses face. However, this depends on the review that will take place on 12th March. If they announce a restriction extension, the £150m will benefit businesses in the hospitality, tourism, leisure (HTL) sector. The non-essential retail sector is also eligible. If these businesses must pay non-domestic rates, they will receive an additional payment of up to £5,000. This sum is payable regardless of the number of employees they have.
There is an eligibility tracker and calculator on the Business Wales website that businesses in the HTL sectors can access. This tool can determine what support you can receive and understand what you need in order to apply.
Ken Skates Comments
Minister for the Economy, Transport and North Wales, Ken Skates, said: “This last year has been incredibly difficult for everyone. Consequently, we are aware of the significant challenges facing our fantastic hospitality, tourism and leisure sector.
“The funding is to provide further support for the small, medium and large businesses in these sectors. It has the specific aim of protecting as many jobs as possible. The Welsh Government’s support to businesses throughout the pandemic has been the most generous anywhere in the UK. I am happy that we have managed to pay over £1.9 billion directly into our businesses’ bank accounts.
“With restrictions likely to continue for a little while longer, we are actively reviewing our options for providing further support. I have great pleasure in confirming we have now provided a further £150 million for businesses paying non-domestic rates. This grant will proceed if there is an extension to the restrictions at the next coronavirus review on 12th March. This support would include micro-businesses.”
Rebecca Evans, Finance Minister
Minister for Finance, Rebecca Evans, said: “The pandemic has had a disproportionate effect on the hospitality, leisure and tourism sectors and the people it employs. This funding should restrictions signifies our continued commitment to the sector. It will help them survive the toughest of times until they are in a position to reopen their doors again safely.”
Kate Nicholls, UKHospitality Chief Executive
Kate Nicholls, Chief Executive of UKHospitality welcomed the latest Welsh Government grants package for the industry: “Welsh Government has again listened directly to our constructive proposals for more vital support. The money will play a leading part in saving local jobs and local businesses until March 31st”
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