Welsh Government: Support for businesses to help deal with the impact of coronvirus

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Please see below letter dated 17th March 2020 from Ken Skates, AM, Minister for Economy, Transport and North Wales at Welsh Government regarding the support for businesses to help deal with the impact of coronavirus.

We are facing unprecedented pressures on our economy with the potentially devastating effects of coronavirus.

We will do everything we can to help businesses to deal with the impact of this virus.

We are rolling out a support package for businesses immediately to help deal with the impact of coronavirus and to provide the certainty, stability and security businesses need.

We have announced more than £200m for small businesses to help them during the coronavirus outbreak. Retail, leisure and hospitality businesses with a rateable value of £51,000 or less will receive 100% business rates relief and pubs with a rateable value of between £51,000 and £100,000 will receive a £5,000 reduction on their bill. This will be administered through your local authority.

A further £100m will be available for a new grant scheme for small businesses, with a focus on supporting sectors that are feeling the most pressing challenges.

The First Minister has written to the Chancellor today to urge the UK Government to introduce a much more extensive package of measures to support the economy through this unprecedented crisis.

Our Business Wales service and the Development Bank of Wales stand ready to support you, through a variety of ways, from financial and supply chain planning to advice on staffing issues.

If you are currently experiencing issues or have any concerns, I encourage you to 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.

We will be updating guidance for businesses regularly on the Business Wales website at https://businesswales.gov.wales/coronavirus-advice

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

https://www.gov.uk/government/publications/coronavirus-action-plan

Yours sincerely

Ken Skates AC/AM

Minister for Economy, Transport and North Wales

Posted on: Wednesday 18th March 2020