Economic Resilience Fund
The Welsh Government is making a further package of business support available through the Economic Resilience Fund (ERF).
The ERF will provide support in the form of cash grants for businesses, social enterprises and charities and associated supply chain businesses that have experienced / will continue to experience a material negative impact as a result of ongoing COVID-19 restrictions.
The grants will help meet operating costs (excluding staff wages) directly impacted by the restrictions in place for the period from the 1st of July 2021 to 31st August 2021.
In particular, the ERF will support businesses that are either:
- Forced to remain closed or unable to trade by the on-going restrictions between 1st July 2021 and 31st August 2021.
- Dedicated event Space and attractions severely impacted by ongoing social distancing regulations
- Other businesses with less than 60% impact on turnover as a direct result of ongoing restrictions since 1st of May and were unable to open indoors before the 17th May 2021.
- A supply chain business that generates 60% or more of its sales revenue from businesses falling into above categories.
AND (in addition this applies to all the above):
- Have experienced a severe impact through reduced turnover of 60% or more in July and August 2021 as compared to July and August 2019 caused directly by on-going COVID-19 restrictions.
The fund is administered in two parts:
Turnover greater than £85,000
Support for businesses with a turnover greater than £85,000 will be provided directly by the Welsh Government. You can apply for this grant on the Business Wales website, the grant will close at midday on Tuesday 27 July 2021.
Turnover less than £85,000
Support for businesses with a turnover of less than £85,000 is administered by local authorities. Turnover levels should be for a normal trading year or an estimate if the business started post March 2020.
* This guidance relates to the support for businesses with a turnover of less than £85,000 administered by local authorities. Businesses with a turnover of over £85,000 should visit the Business Wales website.
The grant is now open to applications and will remain open for a period of 2 weeks, up to Midday on Monday 9th August.