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Economic Development

Business support must 'keep pace' with extended lockdown for Welsh firms

Welsh Government urged to give an update on what extra support will be available in the coming weeks

A quiet Bangor High Street in lockdown(Image: Ian Cooper/North Wales Live)

Business support must "keep pace" with the extended lockdown in Wales.

That was the message from the Federation of Small Businesses as Welsh Government confirmed lockdown will continue for three more weeks for hospitality, non-essential retail and leisure.

Welsh Conservatives have also called for an urgent statement on ongoing support for businesses.

Welsh Government launched the £160m ERF Restrictions Business Fund on November 30 to provide operating costs support for up to 60,000 businesses hit by national restrictions.

There was £110m added to the fund after the alert level 4 lockdown was announced on December 19 while the £180m Sector Specific Fund for Hospitality, Tourism and Leisure (HTL) opens on Monday.

But with lockdown now expected to drag on for at least three more weeks and possibly longer clarity is wanted on ongoing support.

Welsh Government has been asked for an update on funding support.

Ben Francis, FSB Wales Policy Chair, said: “It seems clear that businesses will require funding support for longer than was originally anticipated if they are to survive this troubling period.