Hospitality, Leisure and Tourism businesses impacted by
latest coronavirus restrictions can now find out how much they can expect to
receive from the latest round of the Welsh Government’s business support
package.
The government recently announced £340m to assist businesses affected by
coronavirus restrictions which came into force on 4 December.
The latest package
includes a £160m Restrictions Business Fund, predominantly for businesses paying
non domestic rates, and a £180m grant fund specifically for impacted businesses
in the tourism, leisure and hospitality sectors.
Under this latest
round of Welsh Government support a typical hospitality business in Wales with
the equivalent of six fulltime staff could be eligible to receive between
£12,000 and £14,000 to help them through this period of restrictions and into
the New Year.
The £160m
Restrictions Business Fund will see impacted businesses that pay non-domestic
rates within the hospitality, tourism, leisure, retail sectors and their supply
chain qualifying for a one-off payment of between £3,000 and £5,000.
Hospitality
businesses that received non-domestic rates funding under the previous
firebreak restrictions can expect this payment before Christmas. However, all
other eligible businesses will need to register in the New Year to receive
their payment.
Impacted firms, including
those not paying business rates, can also apply for a share of the £180m Sector
Specific Fund. This part of the package, which is calculated on a business’
staff count and turnover, is expected to support up to 8,000 businesses in
sectors impacted by the restrictions and potentially a further 2,000 in related
supply chains.
A new eligibility
checker and calculator is now live on the Business Wales website to help businesses work out what support
they can expect to qualify for. Guidance will also be available for firms
to help them through the application process for the Sector Specific Fund which
will open during the week of 11 January.
Minister for the Economy, Transport and North Wales, Ken
Skates, said: “We know how difficult the latest restrictions are for our
hospitality businesses, particularly at this time of year, but accelerating
coronavirus rates have meant we have had to make difficult decisions to protect
people’s health and save lives.
“Available
evidence, including a recent paper by the UK’s Scientific Advisory Group for
Emergencies (SAGE) tells us that measures in Scotland’s level three and
England’s tier three are effective in reducing virus spread. We have introduced
this latest round of restrictions to bring us in line with Scotland level three
and England tier 3.
“Through this
£340m package of support we are working to directly assist hospitality
businesses and to get financial support to them as quickly as possible. Many
will receive between £3K and £5K this side of Christmas, and in addition can
apply for a sector specific grant that will follow in the New Year.
Deputy Minister
for Culture, Sport and Tourism, Lord Elis-Thomas, said: “We are fully aware,
not least from our hospitality stakeholder group, of the impact of the
restrictions that we have had to bring in. This is not the Christmas period
that any of us wanted but I would urge businesses to take advantage of the help
available and to use the calculator to find out how much help they can expect
to receive so they can plan accordingly.
“We will continue
to do everything we can to support our firms and our people through to the
other side of this dreadful pandemic.”
This latest in
Welsh Government funding is in addition to other UK Government support, such as
the Job Retention Scheme, making it the most generous business support offer in
the UK.