1. 1. Questions to the First Minister – in the Senedd on 17 January 2017.
8. Will the First Minister make a statement on the financial support available for new businesses in Wales? OAQ(5)0378(FM)
Support is available to all businesses, including new businesses, through a variety of funds, including our recently introduced repayable fund for SMEs and the growth and prosperity fund.
Thank you, First Minister. We know full well the problems that businesses in some areas of Wales are facing with the huge hikes in business rates this April. This is particularly difficult for newer businesses. While I welcome the commitment of extra support in the budget, there’s still a lack of clarity over how that money is going to be distributed, and some businesses have told me that they’re in limbo, particularly those that need to sign up to longer term leases. When will the Welsh Government be publishing full details of the new funding package available to businesses and how businesses will be able to apply for it?
That will be published soon. It was important, of course, to get the budget through the Assembly in order not to prejudge the outcome of that. And, of course, I can reiterate that a new permanent rate relief scheme for small businesses will be introduced from next year onwards.
Thank you, First Minister.