Financial support of £120 million for businesses in Wales affected by Omicron

Businesses in Wales affected by the rapid spread of the Omicron virus will be eligible for emergency financial assistance under a new Welsh Government support scheme.

Economy Minister Vaughan Gething has announced details of the £120m funding that will be available to retail, hospitality, leisure and tourism businesses and their supply chains affected by the the move to alert level two, as announced by the Prime Minister on Wednesday. December 22.

Under the latest package, retail, hospitality, leisure and tourism businesses paying non-domestic fares will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their assessed value. Businesses will need to re-register their details, via a quick and easy online process, with their local authority in order to receive their payments. Registration will open via local authority websites from WC 10and of january

The Welsh Government has decided to extend this support to non-essential retail businesses so that small shops and travel agents are supported and our high streets can continue to thrive. In England, support is not available for non-essential retail businesses.

In addition, affected hospitality and leisure businesses and their supply chains will be able to apply for additional funding from a new Economic Resilience Fund (ERF). Eligible businesses can apply for grants ranging from £2,500,000 to £25,000, with grants depending on their size and number of employees. The application window for the ERF will open the week of 17and January 2022 with payments starting to reach businesses within days.

Local authorities will also administer a discretionary fund for businesses and independent traders who do not pay tariffs. The fund will provide £500 to sole traders and the self-employed and £2,000 to companies that employ in the affected sectors. More details to follow on Wales.

An eligibility checker that will help businesses assess how much they can expect to receive under the new support scheme will be available on the Business Wales website by early 2022.

Economy Minister Vaughan Gething said:

“We fully understand the ongoing challenges facing businesses, however, we are facing a very serious situation in Wales. A wave of infections caused by the new, fast-moving and highly infectious omicron variant is heading our way, that means taking early action to try to control its spread – and limit the impact on Welsh businesses.

“Since the start of the pandemic, we have provided over £2.2 billion in support to businesses in Wales to help them navigate difficult circumstances.

“We will continue to monitor the impact of the spread of Omicron on businesses in Wales and consider whether additional emergency funding is needed in the new year.”

Business Wales will be updated with details, frequently asked questions and support tips.

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