There is a range of financial assistance available to businesses who have been affected by the COVID-19 outbreak.
Lockdown Discretionary Grant
The Welsh Government have launched the Lockdown Discretionary Grant to help businesses survive the economic consequences of the national firebreak lockdown in Wales as a result of coronavirus (Covid-19).
The purpose of the grant is to support businesses with immediate cash flow support to help them survive the economic consequences of the national firebreak lockdown in Wales. This includes supporting the costs of retaining staff where appropriate. The grant seeks to complement other Covid-19 response measures to support businesses, social enterprises and charitable organisations in Wales.
View guidance on the Lockdown GrantsDolen allanol yn agor mewn ffenest newydd
Reopening businesses - support and guidance
From Monday 22nd June 2020, all non-essential shops can re-open as long as retailers comply with social distancing laws and health and safety guidance.
This list provides information, guidance and advice on how to open your business safely and in line with Government guidelines.
Kickstart Scheme
You can use the Kickstart Scheme to create new 6-month job placements for young people who are currently on Universal Credit and at risk of long-term unemployment.
The job placements should support the participants to develop the skills and experience they need to find work ar completing the scheme.
Funding is available for:
100% of the relevant National Minimum Wage for 25 hours a week
Associated employer National Insurance contributions
Employer minimum automatic enrolment contributions
More information on the Kickstart SchemeExternal link opens in a new window
Job Retention Scheme
All UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis. For more information please read the
GOV.UK guidance on the Coronavirus Job Retention SchemeLink opens in a new window.
Coronavirus Business Interruption Loan Scheme
Support for SMEs with a turnover of up to £45m with access to working capital (including loans, overdrafts, invoice finance and asset finance) of up to £5 million in value and for up to 6 years. Find out more about the Coronavirus Business Interruption Loan SchemeExternal link opens in a new window.
Self Employed Income Support Scheme
This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed. For more information please read the
GOV.UK guidance on the Self-employment Income Support SchemeLink opens in a new window.
Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021. This is an automatic offer with no applications required. No penalties or interest for late payment will be charged in the deferral period.
Deferred VAT payments
Support is in place for businesses by deferring Valued Added Tax (VAT) payments for 3 months. The deferral will apply from 20 March 2020 until 30 June 2020. Read the GOV.UK guidance on
deferral of VAT payments due to coronavirusLink opens in a new window.
Emergency funding for TV and Digital
Emergency TV Development Fund
The Emergency TV Development Fund Link opens in a new window Aims to provide immediate financial support for indigenous independent production companies during the Coronavirus crisis.
Support will be available for companies to utilise the time, during which production cannot take place, to develop projects which will put them in a stronger position to secure commissions once a normal mode of working resumes.
Emergency Digital Development Fund
The (EDDF) fund Link opens in a new window will provide immediate financial support for games, animation, digital agencies and creative digital businesses during the coronavirus outbreak. Aiming to support the retention of Intellectual Property (IP) by indigenous companies which, in turn, will help them to grow, and also to enable digital creative companies to develop new services and improve or introduce new platforms for digital content.
£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
The Business Grant Scheme has now closed to new applications. If you submitted an application or email prior to 5pm on 30th June it will still be progressed.
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.
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 Welsh Government and the Development Bank of Wales have announced the £100m
Covid-19 Wales Business Loan SchemeExternal link opens in a new window to support businesses affected by the Covid-19 outbreak.
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.
The loan scheme will work alongside the UK wide
Coronavirus Business Interruption Loan SchemeExternal link opens in a new window, other Welsh Government and UK Government support offers, providing more vital options for Welsh businesses.
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
On Tuesday 17 March the Bank and HMT announced a
Covid Corporate Financing Facility (CCFF)External link opens in a new window to provide additional help to firms to bridge through Covid 19-related disruption to their cash flows. View the
exchange of letters between the Governor and the ChancellorExternal link opens in a new window (which sets out who is responsible for what).
On 11 March the Bank also announced a large package of measures to help keep firms in business and people in jobs and to help prevent a temporary disruption from causing longer-lasting economic harm. The
packageExternal link opens in a new window was coordinated across the Bank’s areas of responsibility and announced on the same day as the
Government’s budgetExternal link opens in a new window.
For further support and business advice please contact Business Wales on: 03000 6 03000
Detailed information can be accessed on the
Business Wales websiteExternal link opens in a new window.
A short
FAQ on business support is availableExternal link opens in a new window on the Invest in Cardiff website.