A further £150 million has been made available to support Welsh businesses in dealing with the continued impact of the coronavirus pandemic.

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 under £12,000 receive an extra £4,000 grant payment.

Firms with a rateable value of between £12,001 and £500,000 will receive £5,000.

The funding, which will help businesses with their costs up to 31 March 2021, will be available to firms regardless of the number of employees and ensures micro businesses benefit from the support.

Local authorities will again be administering and distributing these payments.

Businesses that pay non-domestic rates and have already received a payment since the firebreak in October do not need to take action. However, businesses that have not registered with their local authority, should take action now to ensure they receive the financial support they are entitled to.

To read the announcement in full please visit the GOV.Wales website.

For further information on the Restrictions Business Fund Non-Domestic Rates please visit the Business Wales website.
 

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