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£120m financial support for businesses in Wales impacted by Omicron

New measures will be introduced from 6am on Boxing Day to help keep Wales safe.

The measures are a revised version of alert level 2 to respond to the new omicron variant and are designed to help keep businesses open and trading and protect customers and staff.

Businesses in Wales impacted by the rapid spread of the Omicron virus will be eligible for emergency financial support under a new Welsh Government support package.

The Economy Minister, Vaughan Gething, has announced the details of the £120m funding which will be available for retail, hospitality, leisure and tourism business and their supply chains affected by the move to alert level 2, as announced by the First Minister on Wednesday 22 December 2021.

As a result of the new emergency support packages, the Welsh Government is withdrawing its £35 million Business Development Fund, announced in November, in order to process emergency payments as soon as possible. All existing offers will of course be honoured.

Under the latest package, retail, hospitality, leisure and tourism business who pay Non Domestic Rates will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their rateable value. Businesses will need to re-register their details, through a quick and easy online process, with their local authority in order to receive their payments.

Registration will open via local authority websites on 13 January 2022.

The Welsh Government has decided to extend this support to non-essential retail so that smaller shops, and Travel Agents will be supported and our high streets can continue to thrive. 

In addition, impacted hospitality and leisure businesses and their supply chains will be able to apply for top up funding from a new Economic Resilience Fund (ERF). Eligible businesses can apply for grants of between £2,500 - £25,000, with grants dependent on their size and number of employees. The application window for ERF will open in week commencing 17 January 2022 with payments starting to reach businesses within days.

Local Authorities will also administer a Discretionary fund for business and sole traders who do not pay rates. The fund will provide £1,000 to sole trader and freelancers and £2,000 to employing businesses in impacted sectors. Further details to follow on Business Wales by the start of 2022.

An eligibility checker which will help businesses to gauge how much they can expect to receive under the new support package will be available on Business Wales by the start of 2022.

For further information visit GOV.Wales and Written Statement: £120m of emergency support for businesses (23 December 2021) | GOV.WALES

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