Update on Financial Support for Businesses

The Welsh Government have announced that businesses in Wales still affected by coronavirus restrictions will be able to claim up to £25,000 more in support to help meet ongoing costs.

This latest support package will help those businesses, which remain affected by restrictions, to meet ongoing costs through to the end of June as they prepare for re-opening and more normal trading conditions.

Businesses that stand to benefit include:

  • nightclubs and late entertainment venues
  • events and conference venues not covered by the Welsh Government’s Cultural Recovery Fund (CRF)
  • hospitality and leisure businesses, including restaurants, pubs and cafes
  • supply chain business, which have been materially impacted by restrictions

An eligibility checker will open on the Business Wales website at midday on 17 May 2021.  This will allow businesses to find out how much support they are likely to be entitled to and how to apply.

A new round of funding for Freelancers – the Wales Culture Recovery Fund Round 2 – Freelancer Fund will also open at 12 o’clock on Monday 17th May 2021. 

The priority for this round is to help those who remain affected by the COVID19 outbreak

To find out more visit https://fundchecker.businesswales.gov.wales/culture

UK & Welsh Government Support for Businesses

UK Government has launched a ‘support finder’ tool which will help businesses and self-employed people across the UK to determine what financial support is available to them during the COVID-19 pandemic.

The tool asks business owners to complete a simple online questionnaire, which will direct them to a list of the financial support they may be eligible for.

The new business support finder tool can be found at https://www.gov.uk/business-coronavirus-support-finder.

Information regarding the range of support available from Welsh Government is available on the Business Wales Coronavirus advice page. This can be accessed here: Business Wales

UK Government Bounce Back Loans

Small businesses will benefit from a new fast-track loan scheme, which will launch on Monday 4th May.

The new Bounce Back Loans scheme will enable businesses to borrow between £2,000 and £50,000 and access the cash within days.

Loans will be interest free for the first 12 months and businesses can apply online through a short and simple form.

Further information about the scheme is available here

Applications are open until 31st March 2021 and you can apply here

Other Support Available:

Support from Local Business Networks

Monmouthshire County Council works closely with the county’s local business representatives all of whom would be happy to help with any individual business queries you may have.  Below are a list of contacts and the areas that they represent:

HMRC Tax Help-line

If as an employer you are having difficulties with your business tax, please visit the link below for guidance issued by UK Government.

HMRC Employer Tax Advice