Updated: Dec 24, 2021
Welsh Economy Minister, Vaughan Gething, has announced the details of the £120m funding which will be available for retail, hospitality, leisure and tourism business and their supply chains affected by the move to alert level 2, as announced by the First Minister on Wednesday 22 December.
Eligible taxi drivers in Wales will be able to claim a £500 grant as part of the new support.
Under the latest package, retail, hospitality, leisure and tourism business who pay Non Domestic Rates will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their rateable value. Businesses will need to re-register their details, through a quick and easy online process, with their local authority in order to receive their payments.
Registration will open via local authority websites from the week commencing 10 January 2022.
The Welsh Government has decided to extend this support to non-essential retail so that smaller shops and Travel Agents will be supported and the high streets can 'continue to thrive'. In England, support is not available to non-essential retail.
In addition, impacted hospitality and leisure businesses and their supply chains will be able to apply for top up funding from a new Economic Resilience Fund (ERF). Eligible businesses can apply for grants of between £2,500 - £25,000, with grants dependent on their size and number of employees. The application window for ERF will open in week commencing 17 January 2022 with payments starting to reach businesses within days.
Local Authorities will also administer a Discretionary Fund for business and sole traders who do not pay rates. The fund will provide £500 to sole traders like taxi drivers and freelancers and £2,000 to employing businesses in impacted sectors. Further details are to follow on Business Wales.
An eligibility checker which will help businesses to gauge how much they can expect to receive under the new support package will be available on Business Wales by the start of 2022.
Economy Minister, Vaughan Gething, said: “We fully understand the continued challenges faced by businesses, however we are facing a very serious situation in Wales. A wave of infections caused by the new, fast-moving and very-infectious omicron variant is headed our way, this means taking early action to try and control its spread – and limit the impact on Welsh businesses.
“Since the start of the pandemic, we’ve provided over £2.2bn of support to businesses throughout Wales to help them manage their way through difficult circumstances.
“We will continue to monitor the impact of the spread of Omicron on businesses in Wales, and will consider whether additional emergency funding is needed in the new year.”