For further support and business advice please contact Business Wales on: 03000 6 03000
£1.4bn business support package to help businesses across Wales
This support matches the measures in England providing a much needed boost for small businesses struggling to cope with the impact of the Coronavirus crisis.
Business Rate Relief
All retail, leisure and hospitality businesses with a rateable value of £500,000 or less will receive 100% non-domestic rates relief for 2020-21. This will be administered automatically through the Council’s Rate Scheme and will apply automatically.
In addition to the business rate relief scheme, the Welsh Government has announced that an additional £850m will be made available through a new grant scheme for businesses. This will mean that all businesses, which are currently eligible for Small Business Rates relief, that is those with a rateable value up to £12,000, will receive a grant of £10,000. If you believe you are an eligible business complete the application form and follow the processes outlined.
Retail, leisure and hospitality businesses with a rateable value between £12,001 and £51,000 will receive a grant of £25,000.
If you believe you are an eligible business complete the application form and follow the processes outlined.
Business Interruption Loan Scheme
The scheme will support loans of up to £1.2 million in value. This new guarantee will initially support up to £1 billion of lending on top of current support offered through the British Business Bank.
This will be available to businesses in Wales via the banks.
For further information on the scheme, businesses should monitor the British Business Bank’s website.
Development Bank of Wales
The Scheme will be available from the Development Bank of Wales for a limited period. It is intended to provide support to businesses who are experiencing cash flow difficulties as a result of the pandemic.
Development Bank of Wales will be offering all its business customers a three-month capital repayment holiday to help them manage the financial fallout from the virus.
For further information please visit the Development Bank of Wales website or call 0800 587 4140..
Bank of England Agency for Wales Covid-19 and Support for Business
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or further support and business advice please contact Business Wales on: 03000 6 03000