Around 950 Ceredigion businesses could benefit from a business rate relief scheme.

The Welsh Government has agreed to fund the High Street Rates Relief Scheme for 2019/2020, with funding of £23.6m across Wales to support businesses which have a rateable value of less than £50,000.

The announcement has been welcomed by Ceredigion council Cabinet members.

Cllr Gareth Lloyd, finance Cabinet member, said it was estimated that around 950 businesses in Ceredigion would be eligible for support under the scheme, with the overall estimated level of relief hitting £850,000.

He said: “We believe around 950 businesses will be eligible for this relief in Ceredigion.

“We hope it will be a help for them in their work.”

Council leader Ellen ap Gwynn added: “It is good news that they have enhanced this scheme and extended it.

“It is good to be able to tell our businesses on the high street that support is available.”

Under the scheme, businesses with a rateable value of £50,000 or less would be able to apply for a £2,500 discount on their business rates for the financial year.

The grant scheme is a separate scheme to the Small Business Rates Relief Scheme which also provides rate relief to smaller businesses.

See this week’s south papers for the full story, available in shops and as a digital edition on Wednesday