Here’s help as firms hit by flooding
FLOODING brings huge challenges for businesses. Most of the flooding impact from storms Ciara, Dennis and Ellen has been felt in Wales.
The sheer extent of the rainfall and wind conditions made for maximum impact and literally swamped many of our flood defences, including vital infrastructure such as bridges, sewerage, and a water treatment centre.
The reporting and assessment of the scale of the damage is still in its early stages. Indeed, it will take weeks for water levels to reduce sufficiently to enable the extent of damage to be assessed fully.
We know that there will be a substantial financial cost, but also in terms of the impact on people’s livelihoods, jobs and wellbeing. We’ve heard reports from businesses in Wales that some expect to be closed for several months.
Small businesses are at the heart of their communities, and when they are forced to close the impacts can be felt widely. In the coming weeks businesses could be facing issues such as damage to premises, stock, and equipment, loss of income through closure and recovery, costs of repair and many other problems.
While the local authorities across the region are hard at work making local areas safe, affected business owners will begin to assess the damage in the coming days.
Welsh Government and other support organisations must take this opportunity to effectively communicate what is available for those businesses that are affected.
At FSB Wales, we have called for support and financial assistance via grants and through the Development Bank for Wales, and for immediate announcement of discretionary business rate relief for businesses affected. Last week we attended the emergency summit hosted by the First Minister, where he announced that Welsh Government would indeed provide funding for local authorities to give discretionary business rates relief through the Financial Assistance Scheme.
We’re pleased to see that the Welsh Government has taken FSB’s advice on board, and will help ease just part of the burden that some businesses will be facing.
The First Minister also announced £10 million for flood-hit homes and businesses. We will be working with Welsh Government in the coming weeks to determine how this funding gets to the businesses that need it, and how it can be distributed as quickly as possible so that it can have the biggest impact.
It was also confirmed that Business Wales will be the go-to on business, insurance, repair grants funding, and they will link into Development Bank on what is available already as support. All emergency numbers that get calls on business issues and property will funnel them to Business Wales, so it will act as central point of contact.
FSB will be communicating the details of this to businesses this week, to ensure that information permeates the business community as much as possible. FSB members also have access to the FSB Insurance advice line, of which we will also continue to communicate the details.
Undoubtedly the flooding has had a terrible impact for many businesses and individuals across Wales over the last few weeks. We have been heartened to see the ways in which communities have pulled together to help support those suffering, and as businesses begin to think about getting back on their feet and reopening, we’d urge communities to consider how their custom can support a small firm to get back on track.