Written question WQ84326
- Asked by
- Sam RowlandsConservative
- To be answered by
- Minister for Economy
- Tabled
- Due
- Answered
- Time to answer
- 9 days
Question
What financial support is the Welsh Government providing to businesses that are not eligible for non-domestic rate grants or support under the economic resilience fund, such as self-catering properties who have under 30 guests and businesses that turn over less than £85,000?
Answer
Answered by Minister for Economy
Local authorities are administrating an Emergency Business Fund for businesses and sole traders who do not pay rates. The fund provides £1,000 to sole traders and freelancers and £2,000 to businesses employing people in the impacted sectors. Applications will remain open on local authority websites until 5pm on the 14th February.
The package has to be affordable within the available budget and difficult decisions were required in relation to eligibility criteria. Unfortunately, not all businesses will qualify for support.
Alternative funding can be accessed through the Development Bank of Wales with loan and equity funding available immediately to Welsh businesses https://developmentbank.wales/.
Business Wales also has a wide range of non-financial advisory support available. Any business affected is encouraged to visit the Business Wales 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.