News

More than Ł26m Covid-19 business funding awarded to local firms

21-05-2020

 

Local businesses have benefitted from more than £26.98m of business grant funding issued by Bridgend County Borough Council as part of Welsh Government’s Covid-19 business support package.

Since the £1.4bn financial rescue package was announced, the council has processed more than 2,169 applications on behalf of the Welsh Government.

Applications are still being received and are currently being processed, and the council is working as quickly as possible to ensure that these essential funds are being distributed to eligible businesses in need of assistance.

If you occupy business premises in Bridgend County Borough and are eligible for small business rates relief in Wales with a rateable value of £12,000 or less, or if you are a retail, leisure or hospitality business with a rateable value of £12,001 to £51,000, you should be registering for a business grant.

Unless you fill in the online form to provide essential information such as bank details and provide a copy of your bank statement showing your bank details, you will not receive the help you could be eligible for.

If you come under the Small Business Rates Relief, and you currently do not pay business rates, you are still eligible to register for the grants.

Councillor Huw David, Leader of Bridgend Council said: “Payments have already been received by many businesses across the county borough, with the majority being processed and paid within a week.

“One point we must stress is the importance of providing the correct and full information as any queries we have to make when processing a claim means a delay becomes inevitable.

 “We are also carrying out full checks to ensure that all eligible businesses can benefit from the scheme, and to detect illegible applications and prevent potentially fraudulent claims from being made.

“We understand that this can be a frustrating time for many businesses, but our teams are working as quickly as possible to ensure that everyone who is entitled to receive this help can do so as quickly and as smoothly as possible.”

The £100m Development Bank of Wales Fund which was announced last week is now fully subscribed for the Covid-19 Wales Business Loan Scheme.

Businesses seeking a loan should consider the Coronavirus Business Interruption Loan Scheme available for SMEs through over 40 accredited UK lenders.be made available for companies that are experiencing cash flow problems.

Please visit Business Wales for more information on support for businesses. 

Businesses are also encouraged to check the council’s Coronavirus (Covid-19) information page for regular updates, as well as Welsh Government and UK Government websites.

If you have any business support queries, please email: business@bridgend.gov.uk

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