- March 18, 2020
- Posted by: Lesley Griffiths AM
- Category: Latest News
Special measures totalling more than £200 million have been outlined by the Welsh Government to help small businesses during the coronavirus outbreak.
Shops, 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 £100 million will be available for a new grant scheme for small businesses which are not eligible for this new business rate relief. Further details on this new grant scheme will be confirmed as soon as possible.
The Welsh Government’s package of support has been welcomed by Wrexham’s Assembly Member, Lesley Griffiths.
She said: “Every penny of funding the Welsh Government receives as a consequence of the UK Government’s Budget announcements last week will be used to support Welsh businesses.”
“The Welsh Government is doing everything in its power to help businesses deal with the repercussions of the coronavirus outbreak. Support and advice is available and I would encourage those affected to contact Business Wales on 0300 060 3000.”
“The Development Bank of Wales can also assist – it has equity and loan funding it can make available immediately to small businesses to help them through the cash flow and other challenges they may face in next, difficult, few weeks and months. The Development Bank of Wales can be contacted on 0800 587 4140.”
Ms Griffiths added: “We are living in unprecedented times. Businesses are the lifeblood of the Welsh economy and with livelihoods at stake, I am pleased the Welsh Government has written to the Chancellor of the Exchequer suggesting a range of major interventions which are needed to stabilise the economy and reassure citizens they will receive financial support when they need it.”