£2.5 million Welsh Government support for businesses hit by flooding
4 Mar 2020 01:09 PM
The Welsh Government is making up to £2.5 million emergency funding available to support businesses severely impacted by floods caused by Storms Ciara and Dennis.
Businesses recovering from the devastating effects of the floods, specifically small to medium sized enterprises, will be able to apply for a grant of up to £2,500 each to help get them fully functional as quickly as possible.
The First Minister recently announced that up to £10 million is being made available for the initial response to the floods and today’s announcement forms part of that support package.
The fund will be administered by Business Wales and will support businesses with the immediate costs of recovery not covered by insurance, and to help meet the cost of renting alternative space and retaining staff.
Further details on how to apply for the fund will be made available in the coming days through the Business Wales website and businesses can also contact the Business Wales helpline on 0300 060 3000.
The £2.5 million fund is in addition to support the Welsh Government will provide for local authorities to meet the costs of discretionary business rates relief due to flooding for up to three months where a number of business premises are affected in a concentrated location.
Economy, Transport and North Wales Minister Ken Skates said:
Communities and business have suffered devastating and unprecedented effects from recent storms and subsequent flooding.
I have seen, first hand, the great community response to help people in need as well as the work of volunteers.
Today, the Welsh Government is announcing up to £2.5 million to support businesses, specifically SMEs, who have felt the full force of the floods. Each impacted business will be able to apply for up to £2,500 each to help get up and running again.
This will be in addition to meeting Local Authorities’ eligible costs for the use of discretionary rates relief due to flooding.
As a government, we continue to work closely with councils to get a clear picture of the scale of the damage. This will determine how much additional funding is needed and what financial support we would look for the UK Government to provide.