Restrictions Business Fund
The Restrictions Business Fund has now closed.
Non-Domestic Rates (NDR) Linked Grants
Following the First Minister’s announcement on 12 March 2021, two new Non Domestic Rate linked grants were introduced:
- The additional support will help businesses in the hospitality, tourism, leisure and non-essential retail sectors that pay non-domestic rates and will operate as a top up to the Restrictions Business Fund.
- This will see an eligible business with a rateable value of £12,000 or less receive an extra £4,000 grant payment.
- Firms with a rateable value of between £12,001 and £500,000 will receive £5,000.
The £150m Non-Domestic Rates linked grants package is to help businesses as a consequence of the March restrictions review. This package was in addition to grants which were announced in January and disbursed during February which were explicitly intended to cover costs up to 31 March, and was linked to the decision that restrictions were to continue beyond Easter.
The March NDR linked grants package has been designed to support businesses through to the election on May 6th so as to ensure Minsters did not make announcements of further grants during the Pre-Election Period.
- Local authorities will again be administering and distributing both these payments.
- Businesses that pay non-domestic rates and have already received a payment since the firebreak in October via their Local Authority do not need to take action and will begin receiving payment via the Restrictions Business Fund into their bank account during March 2021.
- However, businesses that have not registered with their local authority, registration process will open from Monday 15 March 2021 and the application window will close at 5pm on 31 March 2021.
- Please continue to check your Local Authorities website for access to the registration and application process.
- To support businesses in the next financial year we have extended the rates holiday for a further 12 months for eligible businesses and ring-fenced a further £200m for future business support. We do not expect to announce full details of next year’s support package until after the election.
- We are continuing to keep the situation under review, and are actively engaging with impacted sectors.
Local Discretionary Grant
The Discretionary Fund remains open to new applicants in those Local Authority areas yet to award their allocation in full until the 30 March 2021 and we continue to consider the case for further funding from April onwards. Please continue to check the Business Wales website for updates.