- April 5, 2020
- Posted by: Carwyn Jones AM
- Category: Latest News
The Welsh Government will be updating guidance for businesses regularly on the Business Wales website at: Business Wales
Any business affected should as a first port of call, contact the Business Wales telephone helpline on 0300 060 3000. They can help with practical advice on coronavirus related support.
The Development Bank of Wales is also an excellent point of reference:
Development Bank for Wales
Bridgend Council also has a dedicated Covid-19 page and you can acccess this by using their link: Bridgend Council
Caravan Parks, campsites and other tourism sites were closed in Wales on the 23 March. Food and drink venues, pubs, bars, clubs, cinemas, casinos, gyms, museums, leisure centres, betting shops and galleries, as of 20 March 2020, all such businesses were instructed to close under the Public Health Act 1984. Welsh Regulations allow those businesses that can, to operate as takeaways.
On 18 March, the Welsh Government announced a £1.4bn business support package to help companies across Wales.
The new package provides retail, leisure and hospitality businesses with a year long business rates holiday in 2020-2021;
A grant of £25,000 for retail, leisure and hospitality businesses with a rateable vaule of between £12,001 and £51,000;
A £10,000 grant to all businesses eligible for small business rates relief with a rateable value of £12,000 or less.
As far as possible, the rates relief will be operated through the non domestic rates system for 2020-2021.
The Welsh Government has also recently announced their new £500m Economic Resilience Fund which aims to plug the gaps in the support schemes already announced by the UK Government.
This Wales only fund will support firms of all sizes, including social enterprises, with a focus on those which have not already benefited from the coronavirus grants already announced by the Welsh Government.
The fund is made up of two main elements:
1) A new £100 million Development Bank of Wales Business Loan Scheme
2) And a £400 million emergency grants pot
The UK Government support includes the following which Welsh businesses can benefit from:
-A Coronavirus Job Retention Scheme: 80% of furloughed employees’ usual monthly wage costs, up to £2,500 per month
-Support in respect of sick pay to employees
-A Coronavirus Business Interruption Loan Scheme through the British Business Bank, updated to meet expectation on the 2 April.
-Support in respect of tax through a Time to Pay service
-A grant to self-employed individuals or partnerships worth 80% of profits up to £2,500 per month
Below are some useful links from the Welsh Government website.