Written question WQ84263

Businesses in Wales impacted by the rapid spread of the Omicron virus may be eligible for emergency financial support under a new £120m Welsh Government support package. Further information and an eligibility checker is available at: https://businesswales.gov.wales/coronavirus-advice/

Under the latest package of support, non-essential retail, hospitality, leisure and tourism business impacted by restrictions and who pay non-domestic rates (NDR) will be entitled to a payment of up to £6,000 depending on their rateable value. In order to receive their payments businesses must register their details through a quick and easy online process. Registration opened via local authority websites from the 13th January 2022 and will remain open until 14th February. The Welsh Government has extended this support to non-essential retail including travel agents so that smaller shops will be supported and our high streets can continue to thrive.

In addition impacted hospitality, leisure and attractions sectors and their supply chains are able to apply for top up funding from a new Economic Resilience Fund (ERF). Eligible businesses can apply for grants of between £2,500 and £25,000, with grants dependant on their size and number of employees. An eligibility checker is available on the Business Wales website to help businesses see how much they can expect to receive - https://fundchecker.businesswales.gov.wales/businesssupport. The application stage for this fund will close at 4pm on the 1st February 2022.

Local authorities are also administrating an Emergency Business Fund for business and sole traders who do not pay rates. The fund will provide £1,000 to sole trader and freelancers and £2,000 to businesses employing people in the impacted sectors. The application stage will remain open until 5pm on the 14th February.

In addition, alternative funding can be accessed through the Development Bank of Wales with loan and equity funding available immediately to Welsh businesses https://developmentbank.wales/.

Our Business Wales has a wide range of support available and any business affected by the pandemic is encouraged to visit the website https://businesswales.gov.wales or contact the Business Wales helpline on 03000 6 03000. The Business Wales Helpline is available Monday to Friday from 10am to 4pm.