A "significant" package of support will be made available for Powys businesses to cope with the effects of coronavirus, it has been announced.

Reliefs and grants worth around £60 million will be awarded to businesses in the county as part of the COVID-19 financial support scheme recently announced by UK Government.

What does the package include?

  • A £10,000 grant to all businesses eligible for Small Business Rates Relief with a rateable value of £12,000 or less.
  • A grant of £25,000 for businesses in the retail, leisure and hospitality sector with a rateable value of between £12,001 and £51,000.
  • All retail, leisure and hospitality businesses in Powys with a rateable value of less than £500,000 will receive a year-long business rates holiday.

Rates bills for the new financial year 2020/21 have already been issued without the relief included, but those who are eligible will receive an updated bill shortly and direct debits will not be collected in the meantime.

County Times:

Cllr Aled Davies, Deputy Leader and Cabinet Member for Finance, said: “We welcome the Chancellor’s recent announcement of financial support; it will provide a much-needed boost for Powys businesses.

“Businesses that qualify for this support will not need to do anything at the moment. The council knows which businesses are eligible and they will receive information at the earliest opportunity.

“We want to make this process as straightforward as possible at a time when many people are worrying about money.

“From next week, commencing 30 March, we will be paying the grants directly into bank accounts of businesses where we have their bank details.

“There are a number of businesses whom we don’t have bank account details for. We will write to each one at the same address we send the business rates bill to, asking for these details.

“The quicker we receive those details back from the business, the quicker we can pay the grant into their account.

“However, we can only write to people at the address we send the bill to, so if circumstances have changed and information should be sent to a different address, you need to let us know.

“There is a lot to work through so please bear with us. I do not want eligible businesses to miss out on this and we are doing everything possible to ensure the funds get to the right people, and quickly.

“I want to reassure everyone that we are working closely with Welsh Government at this unprecedented time, and we are absolutely committed to supporting local businesses in as many ways as we can.”