News

Support for businesses and employers

24-03-2020

 

Summary of support available

Business Type

Conditions

Support

Source

 

Retail/leisure/hospitality

ALL

 

100% business rates relief

WG

 

Retail/leisure/hospitality

Rateable value £12,001 - £51,000

 

Grant: £25,000

WG

 

ALL

Rateable value <=£12,000 and if receiving SBRR

 

Grant: £10,000

WG

 

Pubs

Rateable value £51,000 - £100,000

£5,000 reduction in business rates

 

WG

 

SMEs

Under 250 employees

2 weeks SSP per employee with covid-19

 

UKG

 

Larger firms

 

Bank of England Covid-19 Corporate Financing Facility

 

UKG

 

ALL and self-employed

 

HMRC Time to Pay service

UKG

 

 

 

 

 

 

 

 Grants

 

The Welsh Government has announced a grant scheme for Welsh businesses hit by coronavirus.

 A £25,000 grant for businesses in retail, hospitality and leisure sectors, with a rateable value of £12,001 - £51,000.

 A £10,000 grant to all businesses eligible for small business rates relief with a rateable value of £12,000 or less.

Businesses that qualify for this support will not need to do anything to apply for this scheme. This will be administered through the Business Rates system. You do not need to contact your Local Authority about this, you will receive information in due course.  For further information and support please contact Business Wales 03000 6 03000.

UK Government

The announcement on the Gov.uk website lists the various measures available and who is administering them.

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

https://www.gov.uk/government/news/coronavirus-business-support-to-launch-from-today

https://www.gov.uk/government/publications/further-businesses-and-premises-to-close

 


Welsh Government

 

Latest package of support for businesses hit by Coronavirus can be found here: https://businesswales.gov.wales/coronavirus-advice

Development Bank of Wales

The Development Bank of Wales is offering a three-month payment holiday for existing customers impacted by the virus which they can request here

For further information on support packages available from the Development Bank of Wales their website will be updated daily as information changes –  Development Bank of Wales

 

Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS) opened for applications on 23rd March 2020 and supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities and can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.  For further details please refer to the website https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/for-businesses-and-advisors/

HMRC The HMRC helpline is 0800 0159 559

Universal Credit Helpline https://www.understandinguniversalcredit.gov.uk/coronavirus/

Bank of England

The measures on 11th March included a term funding scheme aimed at SMEs delivered via the banks: https://www.bankofengland.co.uk/news/2020/march/boe-measures-to-respond-to-the-economic-shock-from-covid-19. Ask your bank about support.

The UK and Devolved Government’s Coronavirus Action Plan can be found at https://www.gov.uk/government/publications/coronavirus-action-plan

Advice and guidance for businesses can also be found via the Bridgend Business Forum here.

 

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