|Brecon Beacons Tourism Industry Update|
|Welsh Firms Receive £150M in Grants in First Week of Business Support Scheme.|
|9th April 2020|
Almost 11,000 firms have received funding which will be vital in helping them deal with the impact of the virus.
More businesses will receive emergency coronavirus grants through their local authorities, which are distributing the funding on behalf of the Welsh Government.
Retail, leisure and hospitality businesses in Wales occupying properties with a rateable value of between £12,001 and £51,000 will receive a grant of £25,000.
Please see box below to find out more about these grants.
Read more here
Businesses who are not egliable for the grants mentioned above can apply to the Welsh Government Economic Resilience Fund.
Businesses will also be able to benefit from a £400 million emergency pot providing:Grants of £10,000 for micro-businesses employing up to nine people.Grants of up to £100,000 for small and medium sized firms with between 10 and 249 employees.Support for larger Welsh companies, which are of critical social or economic importance to Wales.
The £500 million Economic Resilience Fund will support businesses forced to temporarily cease trading – to go into “hibernation” – or which need cash-flow support to adapt to a remote way of working.
An announcement on how to apply and guidance for this scheme is expected within the week, I have had reassurance from our AM Kirsty Williams that the new fund is intended to support those businesses, charities and voluntary organisations that do not pay business rates or who have not qualified for the existing grants for some reason, e.g. small B&Bs and the funding will be distributed via local authorities.
We will share with you as soon as we hear. I would advice applying for this scheme right away as it is open to any businesses in Wales. Information about this scheme can be found here. https://businesswales.gov.wales/coronavirus-advice
|Local Authorities are paying the £10,000 and £25,000 business grants to eligible businesses.|
|Please refer to the previous email I have sent out on the 31st March on this topic, as different Local Authorities are administering the scheme differently.|
Members are reporting payments being received from Powys, Carmarthenshire and Monmouthshire County Councils this week.
Powys based members do not need to contact Powys Council Council – they are paying directly all who they have bank account details on file for, they are writing to others for their bank account details for payment. So do check your bank account this week or complete and return the form quickly to get payment made.