In Plenary the Shadow Minister for Business and Economy, Russell George AM, and Shadow Minister for Finance, Nick Ramsay AM, both urged the Welsh Government to plug all gaps facing businesses in the Covid-19 pandemic.
The AMs’ concerns come following data from the Enterprise Research Centre which showed that the Welsh economy could be the hardest hit by Coronavirus, with 2,359 company dissolutions and a 28% decrease in the formation of new start-up businesses.
Mr George urged for more financial schemes to be implemented for businesses.
He said: “Whilst I welcome the steps taken by the Welsh Government in principle, I have been left deeply concerned that there are many gaps preventing businesses from accessing existing support schemes.
“Many small business owners and self-employed people have spoken to me with one voice: they’re on the brink of collapse because they’re unable to access support here in Wales.
“The sticking point has been the eligibility criteria for the various schemes – including for the Economic Resilience Fund – where those who aren’t VAT registered and unable to produce the required accounts have been excluded.
“There are also businesses which are highly dependent on seasonal trade which are being impacted from the pandemic – they too desperately need additional packages of financial support.
“I appreciate these are unprecedented times, but it’s high time for the Welsh Government to answer businesses’ concerns and bring forward further packages of support to ensure none is excluded.”
Mr Ramsay added: “I have been contacted by many businesses, all of which have expressed their concerns of falling through existing gaps.
“One of those businesses is a soft play centre in Abergavenny, which has been unable to access emergency Covid-19 funding due to not fitting into existing criteria.
“Financial support at this time is absolutely critical to ensure the future survival of many of our businesses over the next few months and I urge the Welsh Government to prioritise giving businesses further support.”
ENDS