Further financial package for businesses in Wales

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The Welsh Government announced yesterday (May 11) a further package of financial support for businesses that remain affected by Coronavirus restrictions, which will assist them to meet ongoing costs through to the end of June as they prepare for re-opening and more normal trading conditions.

Businesses that stand to benefit include:

  • Nightclubs and late entertainment venues
  • Events and conference venues not covered by the Welsh Government’s Cultural Recovery Fund (CRF)
  • Hospitality and leisure businesses, including restaurants, pubs and cafes
  • Supply chain businesses, which have been materially impacted by restrictions

Eligible businesses will receive between £2,500 and £25,000 depending on their circumstances.

Funding will be calculated based on the size of the business and the type of restrictions they are under.

An eligibility checker will be made available on the Business Wales website at midday on May 17, which will allow businesses to find out how much support they are likely to be entitled to and how to apply.

Businesses will be able submit applications by the end of the month.

The above support is the first phase of a £200m package earmarked for the incoming Welsh Government to help businesses affected by the pandemic.

Ellis & Co Chartered Accountants and Business Advisers, Chester & Wrexham - 01244 343504, info@ellis-uk.com