Coronavirus support package announced for Welsh businesses

17/03/2020

The Welsh Government has today announced a series of measures aimed at supporting businesses affected by the coronavirus pandemic.

Retail, leisure and hospitality businesses with a rateable value of £51,000 or less will receive 100% business rate relief and pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bill.

A further £100m will be available for a new grant scheme for small businesses. Further details on this new grant scheme will be confirmed as soon as possible.

Full details of the emergency support is available by clicking here.

Meanwhile, the Business Wales service and the Development Bank of Wales both offer a range of support options, from financial and supply chain planning to advice on staffing issues.

BID members experiencing issues or with any concerns should contact the Business Wales helpline on 03000 6 03000 in the first instance, for practical information and advice or signposting to relevant agencies and organisations.

Guidance for businesses is updated regularly on the Business Wales website here.

The UK and Devolved Government’s Coronavirus Action Plan can be found here.

Newport Now will continue to lobby local and national governments on behalf of its members during these difficult times. 

The BID is also looking at ways of diverting some of its funding into providing practical help for those businesses worst-hit by the crisis.

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