Businesses employing ten staff or more that have been forced to close due to coronavirus restrictions will be entitled to extra financial support, the Welsh Government has announced.
An extra £30 million will be targeted to support small, medium and large businesses in the hospitality, leisure and tourism, and non-essential retail sectors as well as related supply chain businesses.
The Welsh Government said the money will be for businesses employing ten or more staff in recognition of higher operating costs.
It also confirmed that, pending the outcome of the next review on Friday March 12, a further £150 million in grants could be made available to firms, including micro businesses, through the Welsh Government’s Non Domestic Rates (NDR) scheme.
Should restrictions be extended at the Friday, March 12, review, businesses in the hospitality, tourism, leisure and non-essential retail sectors that pay non-domestic rates will receive an additional payment of up to £5,000 regardless of the number of employees they have.
Businesses can check to see if they are eligible, and what level of financial support they can receive on the Business Wales website.
In a separate announcement by the UK Government, the furlough scheme will be extended until the end of September.
The scheme pays 80% of employees’ wages for the hours they cannot work.
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Minister for the Economy, Transport and North Wales, Ken Skates, said: “The focus of this latest £30m round of funding is to target further support at the small, medium and large businesses in these sectors with 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 and I am pleased that we have been able to get over £1.9bn directly into the bank accounts of our businesses.
“With restrictions likely to continue for a little while longer we are actively reviewing our options for providing further support. I am pleased to confirm that we have now made provision for a further £150m of support for businesses paying non-domestic rates should restrictions be extended at the next coronavirus review on March 12 which would include support for micro businesses.”
Kate Nicholls, Chief Executive of UKHospitality (UKH) welcomed the latest Welsh Government grants package for the industry: “Welsh Government has again listened directly to our constructive proposals for more vital support and the new money will play a leading part in continuing to save local jobs and local businesses until March 31 in communities right across Wales while lockdown persists.”
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