More than £1.7 billion reaches businesses in Wales
Businesses in Wales have received in excess of £1.7 billion from Welsh Government since the beginning of the coronavirus pandemic.
More than 178,000 grants totalling £1 billion have been delivered through local authorities who have been administering schemes on behalf of Welsh Government including the Non-Domestic Rates scheme, Start-Up Grant and the Discretionary Fund.
Economy Minister Ken Skates said this financial assistance has been crucial in helping thousands of businesses throughout Wales and protected many more jobs and livelihoods that might otherwise have been lost.
The funding includes over £520 million provided through Welsh Government’s Economic Resilience Fund with more payments reaching firms daily.
Welsh Government has provided in excess of £50 million to organisations and individuals through its Culture Recovery Fund.
The Minister also revealed that money is already reaching tourism, hospitality and leisure businesses from the £180 million sector specific fund which opened on Wednesday, 13 January with applications being processed quickly.
The sector specific fund currently remains open and businesses can find out if they are eligible and make an application by visiting the Business Wales website.
It is estimated that under latest the package of support a typical hospitality business in Wales with the equivalent of six full-time staff could be eligible to receive between £12,000 and £14,000 in total, making it the most generous offer in the UK.
Economy Minister Ken Skates yesterday said:
This past year has placed untold pressures and challenges on our economy and our businesses.
As a Government we have had to make difficult, but necessary decisions to protect the health of our people and we know this has had an inevitable impact on our firms.
That is why we have worked hard since the beginning of the pandemic to provide financial support to businesses who need it, as quickly as possible.
To get more than £1.7 billion out to our firms has meant a huge effort, not least from our local authorities. I would like to thank each and every one of them for everything they have done and continue to do in supporting us to protect businesses.
Our package of help, which is in addition to that available from the UK Government, continues to be the most comprehensive and generous package of support for businesses, anywhere in the United Kingdom.
We will continue to engage closely with the business community through these difficult times and do all that we can to support them.
Latest News from
Minister encourages those struggling with bills to make use of vital advice services available in North Wales27/01/2023 14:15:00
The Finance Minister Rebecca Evans visited the ASK Centre in Rhyl yesterday and is urging people in North Wales to take advantage of the support available to them during the cost of living crisis.
£86 million investment to improve cancer radiotherapy services for South Wales27/01/2023 13:15:00
Health Minister Eluned Morgan has today announced more than £86 million for new cancer treatment facilities, equipment, and software.
All the ingredients for Flint business to grow27/01/2023 11:15:00
Rural Affairs Minister Lesley Griffiths has officially opened a new production facility at the Pudding Compartment in Flint, which has benefited from Welsh Government funding.
The Deputy Minister for Social Services Julie Morgan makes personal apology to those affected by historic adoption practices27/01/2023 09:15:00
Julie Morgan, the Deputy Minister for Social Services has made a personal apology for the suffering of those affected by the historical practice of forced adoption in the 1950, 60s and 70s.
Advanced Paramedics reducing hospital admissions26/01/2023 14:20:00
Advanced Paramedics Practitioners (APP) across Wales are helping to treat more people in the community and avoid unnecessary hospital admissions.
New north Wales medical school to start training Wales’ future doctors26/01/2023 13:20:00
First Minister Mark Drakeford has announced the Welsh Government will be funding up to 140 medical student placements each year at the new north Wales medical school.
Economy Minister unveils busy programme of international trade missions for spring 202325/01/2023 16:15:00
Economy Minister, Vaughan Gething, has today unveiled a packed programme of Welsh Government international trade missions for spring 2023, lending his support to Welsh businesses travelling the world in the next few months to develop their exports.
Brew-tiful! Welsh coffee company secures new USA and Canada contract25/01/2023 14:50:00
Rural Affairs Minister Lesley Griffiths has congratulated Ferrari’s Coffee in Bridgend after the company secured a new contract which will see their products available in the USA and Canada.
Wales to introduce UK-first mandatory national licensing scheme for special procedures such as tattoos25/01/2023 12:15:00
Wales is set to become the first UK nation to introduce a mandatory national licensing scheme for tattoo artists and those working in body piercing, semi-permanent make-up, acupuncture and electrolysis, Chief Medical Officer Frank Atherton has announced.