Business Newsletter 25th July 2022

Recovery Loan Scheme extended

An important support scheme offering Government-backed loans to small businesses will be extended for a further two years, Business Secretary Kwasi Kwarteng announced last week.

The Recovery Loan Scheme, originally launched in April 2021 to help businesses recovering from the Covid-19 pandemic, has supported almost 19,000 businesses with an average of £202,000 in support.

The Recovery Loan Scheme (RLS) is a government scheme aimed at supporting access to finance for UK businesses. It gives lenders a government-backed guarantee against the outstanding balance of the facility.

See: Further support for small businesses feeling the squeeze as £4.5 billion Recovery Loan Scheme extended – GOV.UK (



Community Ownership Fund 2022

People across the UK will have the chance to become owners of at-risk local pubs, theatres, post offices, sports grounds and corner shops with the launch of the UK Government’s Community Ownership Fund.

Voluntary and community organisations can bid for match funding.

The Community Ownership Fund is open for Expressions of Interest applications.

Once you have passed the EOI stage you will be sent a link to submit a full application to the Fund. Please note you can only submit a full application if you have received confirmation that your project is eligible at the EOI stage.

Your full applications must be submitted before 12pm on 19 August 2022 if you are applying in the first bidding window.

See: Community Ownership Fund: prospectus – GOV.UK (



Seafarers to receive National Minimum Wage

New legislation will ensure seafarers get paid at least equivalent to the UK National Minimum Wage.

The UK government has introduced new legislation to make sure seafarers get paid at least equivalent to the UK National Minimum Wage.

The changes mean that thousands of seafarers regularly entering the UK will receive fairer pay.

The Seafarers’ Wages Bill – introduced in the House of Lords – enables port authorities to deny access to services calling regularly at UK ports who do not pay their workers equivalent rate to the UK National Minimum Wage (NMWe) for time spent in UK waters.

See: New bill introduced to ensure thousands of seafarers receive fair pay – GOV.UK (


Economy Minister launches new ambitious events strategy for Wales

A new strategy to help create jobs and spread economic prosperity by encouraging a wide range of successful, sustainable and authentically Welsh events right across Wales has been launched by the Economy Minister, Vaughan Gething.

The National Events Strategy for Wales 2022 to 2030 builds on the growth of events in Wales over the past two decades.

The strategy seeks to encourage events of all shapes and sizes that are located in every corner of Wales, spread across all seasons and representative of Welsh culture.

It is based around three main themes:

  • align the industry: to be resilient and prosperous, the industry will develop a strong voice that ensures all stakeholders are aligned and working in collaboration towards common outcomes
  • authenticity: events in Wales will have a distinct Welshness regardless of size, scale, or location. This will include the Welsh language, reflect the Cymru Wales Brand, and the Well-being of Future Generations Act criteria
  • all of Wales: the industry will maximise existing assets, spread its events across Wales and across the year, and aim to achieve equality, diversity, and inclusion

See: “Making amazing things happen in unusual and unlikely places”, Economy Minister launches new ambitious events strategy for Wales | GOV.WALES