Welsh Government Opens Economic Resilience Fund Emergency Financial Support

A further grant scheme for COVID-hit businesses in Wales has opened to applications.

Businesses in Wales impacted by the spread of the omicron variant of COVID-19 can now apply for emergency financial support from the Welsh Government’s Economic Resilience Fund (ERF).

Support is available for retail, hospitality, leisure and tourism business and their supply chains affected by the move to alert level 2.

Eligible businesses can apply for grants of between £2,500 and £25,000, with grants dependent on their size and number of employees.

The ERF will support:

  • Businesses impacted between 13 December 2021 and 14 February 2022 and closed by regulations from 26 December 2021.
  • Event Space and attractions materially impacted between 13 December 2021 and 14 February 2022.
  • Other businesses with greater than 50% impact on turnover between 13 December 2021 and 14 February 2022.
  • All businesses that have experienced a material impact through reduced turnover of 50% or more between December 2021 and February 2022 as compared to December 2019 and February 2020.

Non-essential retail, hospitality, leisure and tourism businesses in Wales can also receive support from the Non Domestic Rates (NDR) linked grant which is being administered by local authorities. Businesses will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their rateable value.

Local authorities are also administrating a discretionary fund of up to £2,000 for sole traders, freelancers and taxi drivers, and businesses that employ people but do not pay business rates.

The ERF programme for businesses with a turnover of more than £85,000 is now open. Applications will close on 1 February 2022 (16:00 GMT).

(This report was the subject of a GRANTfinder Newsflash.)