Additional funding from Welsh Government to support businesses
Posted on: Tuesday 16 March 2021
Further funding from Welsh Government is being made available to support hospitality, tourism, leisure and non-essential retail sectors that are not yet able to reopen.
The cash grants are for businesses that pay non-domestic rates and will operate as a top up to the Restrictions Business Fund via the Non-Domestic Rates (NDR) grants.
It will see an eligible business with a rateable value of £12,000 or less receive an extra £4,000 grant payment.
Firms with a rateable value of between £12,001 and £500,000 will receive £5,000.
The funding, which will help businesses with their costs up to 31 March, will be available to firms regardless of the number of employees and ensures micro businesses benefit from the support.
Businesses that pay non-domestic rates and have already received a payment for a restriction grant between December and March do not need to take action as they will receive an automated payment of the relevant amount into their bank accounts.
However, businesses that have not registered with their local authority, should take action now to ensure they receive the financial support they are entitled to. Businesses in Bridgend County Borough can apply now via the local authority business support page.
Businesses registering for the first time will be asked to self-declare whether they have experienced a 40% reduction in turnover for January 2021 and February 2021 as compared to January 2020 and February 2020.
Welsh Government has announced an additional fund of £150million for businesses across Wales – this funding is critical to supporting businesses with their immediate cash flow and to helping them survive the economic consequences of ongoing restrictions necessary to control the spread of Covid-19.
We very much welcome the plan announced by Welsh Government for the reopening of each sector and we want to reassure local businesses we will continue to do all we can to support them as they reopen. This additional top-up grant will be for all eligible businesses, including those which are due to open before the end of March such as hairdressers, barbers, sports clubs and garden centres.
Over the last year hundreds of businesses across the county borough have received funding via the grant scheme and we urge any other eligible firms who haven’t already applied to do so. With over £40million having been administered to local businesses since the start of the pandemic, we continue to work quickly to ensure businesses receive these grants in the shortest timeframe possible. We kindly ask businesses not to contact the council to check on the progress of an application as it can delay the process.Bridgend County Borough Council Leader Huw David
For more information about the support available to businesses, visit the council’s financial support webpage.
Applications will be dealt with on a first come, first served basis. This may lead to applications not being appraised after they have been submitted if the fund is fully committed. Applicants will be notified of this by email.