Business owners in Abergavenny could benefit from a discount scheme which kicks in next April, it has been confirmed.

Ministers have sealed off £110m to relieve small businesses and independent companies, with discounts funnelled to two firms in each authority, meaning national chains and larger businesses will not be eligible.

The Welsh Government said the move will target relief to support small businesses to the tune of £7m a year, whilst Finance secretary Mark Drakeford revealed that an extra £9m and £22m will be earmarked for business rates from April 2018.

“This year, we have provided small businesses with more than £110m of support to help them pay their bills,” he said. “Our permanent scheme, which will be in place from April, will maintain this level of support from the Welsh Government.

“The permanent scheme will target support more effectively towards those businesses which will benefit most – supporting jobs and growth and delivering wider benefits for our local communities.”

But support for the scheme was split, with Ben Cottam of Federation for Small Business Wales, saying that the plan lacked substance.

“We would like to have seen the Welsh Government split the multiplier between large and small properties to release an estimated £9m a year which could have further supported smaller firms, making the system more progressive,” he said.

“It’s also crucial Welsh Government look at wider reforms to the rates system. In the budget last month, the UK Government pledged a move towards more frequent revaluations, which is something that FSB has been calling for in Wales for some time, and it is disappointing that there has been no movement on this.”