From December 23, the Welsh Assembly confirmed £120m will be available for retail, leisure and hospitality industries, and the supply chain, following the impacts of the new Coronavirus restrictions.
The Business Wales website will be updated as the schemes role out and as quickly as possible.
According to the site, funding will take the form of three elements.
Firstly, Non Domestic Rates (NDR) linked grants of up to £6,000 will be available for applicable businesses. To apply, businesses are required to re-register their details through a quick and easy online process in order to receive their payments. Registration will open via local authority websites from the 10 January 2022.
Welsh local authorities will also deliver a discretionary fund to support sole traders, freelancers and businesses who don’t pay rates, with grants of £500 – £2000.
The Welsh Government’s Economic Resilience Fund (ERF) will also be reopened. On top of NDR based grants, this fund will see grants of up to £25,000 made available for severely impacted hospitality and leisure business – and their supply chains, supporting businesses who have seen a reduction in their turnover of more than 60%.
An eligibility checker will be available on the Business Wales website early in the New Year with applications during the week commencing 17 January.
The Welsh Government has said they will continue to monitor the impact of the restrictions on businesses in Wales and will consider whether additional emergency funding is needed throughout January.
For more information, please visit: gov.wales/written-statement-120m-emergency-support-businesses
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