The Welsh Government is making a further £340m available through the Economic Resilience Fund to support businesses affected by the new changes to #COVID19 regulations. It will include a specific fund to support hospitality and tourism businesses.
Support is split into two funds: a £160m Restrictions Business Fund and a £180m sector-specific Economic Resilience Fund grant scheme.
The Restrictions Business Fund will enable eligible businesses in the hospitality, tourism and leisure sectors which pay non-domestic rates (NDR) to access grants of up to £5,000.
It is estimated around 60,000 businesses, with a rateable value of under £150,000 will receive this support.
Businesses not on the NDR system, will be able to continue to apply to local authorities for the Lockdown Discretionary Grant of up to £2,000.
In addition, hospitality, tourism and leisure businesses will be able to access a sector specific Economic Resilience Fund grant scheme.
Small and medium sized businesses meeting the criteria could receive up to £100k. Larger Welsh-based businesses could receive up to a maximum of £150k.
This part of the package is expected to support up to 8,000 businesses in these sectors and a further 2,000 in the related supply chains.
More information about the funding and how it can be accessed will be published on the Business Wales website in the coming days.