Welsh government announces ‘final package of support' for businesses impacted by restrictions

The Welsh government has announced what it describes as a "final package of emergency support" for businesses still impacted by coronavirus restrictions.

Businesses in Wales will receive up to £25,000 of additional support, economy minister Vaughan Gething (pictured) announced today, however should new restrictions be required in response to a new variant or other emerging developments, ministers will review the need for additional support.

The support will cover the operating costs for July and August 2021 for businesses required to remain closed and remain severely impacted, including businesses in the hospitality, leisure and tourism sectors and their supply chains.

Eligible businesses will be entitled to an additional payment of between £1,000 and £25,000, depending on their size, structure and circumstance, to cover the period up to the end of August.

To qualify, businesses must show their turnover has reduced by more than 60% compared to the corresponding timeline in 2019 or equivalent. All eligible businesses will need to apply for the funding.

An eligibility checker will open on the Business Wales website on 5 July, to help companies to start preparing their applications. The fund will open to applications from 13 July, and remain open for a two-week period, closing on Friday 23 July 2021.

Beyond the emergency phase, should the situation allow, the Welsh government also intends to deliver a Business Development and Recovery Fund, designed to support businesses with match funding to relaunch, develop and grow following the potential further relaxation of Covid-19 restrictions.

Gething said: "Since the start of the pandemic, we have pulled every lever we can to back Welsh businesses. We've provided in excess of £2.5b funding to Welsh businesses, in a package that has been designed to complement and build on the support provided by the UK government. We've also extended our 100% business rate relief package until the end of this financial year. This targeted approach, focused particularly on backing small businesses and Welsh communities, has helped protect in excess of 160,000 Welsh jobs which might otherwise have been lost.

"To support businesses further, I am today announcing additional support to help cover the costs of those business in Wales that need to remain closed, or remain significantly impacted by Wales' staged transition to alert level one, which was made necessary by the risks posed by the Delta variant.

"This Welsh government is determined to do all we can to support Welsh businesses during these incredibly difficult times."