Financial support confirmed for businesses impacted by Omicron
Posted on: Thursday 23 December 2021
Welsh Government has confirmed that £120m funding will be made available for retail, hospitality, leisure and tourism businesses affected by the move to alert level two.
Businesses in Bridgend County Borough who pay non-domestic rates will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their rateable value and will need to re-register their details with the council in order to receive the payment.
Registration will open via the local authority’s website from the week commencing 10 January 2022. Details on how to register will be made available in due course. Please do not contact the council before this date as the authority is awaiting further details of the scheme.
Announcing the fund, 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 funding is needed in the new year.”
A discretionary fund will also be paid to businesses and sole traders who do not pay rates by the local authority. The fund will provide £500 to sole traders and freelancers and £2,000 to employing businesses in impacted sectors.
Welsh Government have also confirmed that the Business Growth Fund announced in December has now been withdrawn.
This £120m of funding from Welsh Government will be a welcome relief to businesses across the county borough who are set to be affected by the latest pandemic changes.
The fund will help strengthen resilience among small to medium businesses, expanding opportunities and safeguarding jobs at a difficult time.
We look forward to receiving further guidance and information from Welsh Government on the application process and will be publicising the exact details on how businesses can apply as soon as we can.Bridgend County Borough Council Leader Huw David
An eligibility checker will be available on the Business Wales website by the start of 2022. More information, including frequently asked questions and support guidance can also be found on the Business Wales website.