Businesses will start receiving emergency coronavirus grants by the middle of next week, Economy, Transport and North Wales Minister Ken Skates confirmed today.
Welsh Government is developing a further package of support for the business community to help it deal with the impact of the outbreak. Further details will be available on Monday.
Last week, Welsh Government announced a £1.4 billion package of support for businesses in Wales.
All 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.
This will mean around 8,500 shops, restaurants, cafes, bars, pubs, cinemas, live music venues, hotels, guest and boarding houses and self-catering accommodation will receive funding.
A £10,000 grant will be available to a further 63,500 businesses in Wales, which are eligible for small business rates relief and have a rateable value of £12,000 or less.
The business grants will be distributed by local authorities on behalf of Welsh Government.
Economy, Transport and North Wales Minister, Ken Skates said:
Our commitment to supporting businesses through these incredibly difficult times is unwavering.
This announcement provides the assurance the business community needs that urgent funds committed by the Welsh Government will reach them quickly.
We have cut the red tape so the process of accessing the grants will be easier – only essential information is needed from businesses to receive the funding. Firms can access it in a simple and speedy way through our Business Wales website.
We are continuing to develop our support for businesses, including the self-employed, as we work to manage the unprecedented impact of this pandemic.
We will do all we can to ensure that a good business today will be a good business next year.
I want to thank local authorities and the Welsh Local Government Association for their support in administering these grants. This is another great example of partners coming together in a time of national crisis for the greater good.
Councillor Anthony Hunt, the Welsh Local Government Association’s finance spokesperson said:
We know this is an exceptionally anxious time for everyone, with businesses in particular being hit hard by uncertainty.
Councils are eager to support the Welsh Government to deliver this financial assistance as urgently as possible. We ask firms to apply online as soon as possible to allow local authorities to process all payments.
Local authority web pages are up and running or being developed to ensure funding is made available quickly. Further information about how businesses can access this funding is available on the Business Wales website.