Local businesses receive £17.6m support

Local businesses are benefitting from more than £17.6m of business grant funding issued by Bridgend County Borough Council as part of Welsh Government’s Covid-19 business support package.

Since the launch of the £1.4bn financial rescue package, the council has processed 1,369 applications from local firms and is continuing to process many more.

The support is being made available to businesses who are eligible for small business rates relief in Wales and who occupy premises with a rateable value of £12,000 or less. It also includes those who fall under small business rates relief but who do not currently pay business rates, and retail, leisure or hospitality businesses with a rateable value of £12,001 to £51,000.

Applications can be made by completing the online form. To avoid delays in processing claims, it is vital for all applicants to provide accurate, essential information including copies of bank statements showing bank details.

I’d like to thank council staff for working as quickly as possible to ensure that everyone who is entitled to receive this help can do so as smoothly as possible.

I know that they are authorising payments every day and are working across their weekends to ensure that all eligible businesses can benefit from the scheme. I am grateful for their efforts, and I’m pleased to see that local businesses are receiving this crucial support during these extremely challenging times.

Council Leader Huw David

The Welsh Government is also launching a new £500m Economic Resilience Fund to support eligible firms businesses, charities and social enterprises.

Designed to provide additional financial support during the coronavirus pandemic and help organisations manage cash flow pressures, it will help address gaps not met by existing support schemes offered by UK Government, Welsh Government and the Development Bank of Wales.

Before applying to the fund, which will go live for applications on Friday 17 April 2020, organisations should go through the guidance to establish whether they are likely to be eligible – full details can be found at https://fundchecker.businesswales.gov.wales/

Businesses are encouraged to check the council’s Coronavirus (Covid-19) information page for regular updates, as well as Welsh Government and UK Government websites.

If you have any business support queries, please email business@bridgend.gov.uk