EFF Wales

Oct 26

Grants Available via Business Wales

We hope you are keeping safe in these difficult times.

As we are now in lockdown in Wales, we are aware that many clients are still looking to secure financial support and development grants. We know that information about the grants and support is limited but is starting to trickle through.

We are aware of the following grants available via Business Wales and your local authority, and wanted to share what information we have at the earliest opportunity;

Economic Resilience Fund – Opening Monday 26 October

  • This is the third tranche of the Grant funding available via Business Wales.
  • This is targeted in support of business recovery projects from the impact of Covid-19. This may include creating employment, digitisation or automation, increasing trade and export, reducing carbon emissions or developing innovations.
  • The grants are structured to the size of the applicants business in turnover or staff numbers and there are additional funds available for the Hospitality and Tourism Industry.
  • There may also be additional/discretionary ‘top-up’ funds available for applications, over and above the grant structure planned.
  • The fund opens on Monday 26 October and grants are allocated on a first come first served basis for four-weeks or until the funds are fully committed.
  • Based on previous applications, these funds will be quickly spent and if you are interested in applying, we would advise you move quickly.
  • The Business Wales website does have an eligibility checker to define if you can apply for these grants and at what levels.
  • We believe that a project plan or development plan will be needed in support of your application, but it is not yet clear as to what depth or detail would likely be required, please see the application for more detail.

Lockdown Business Fund

  • This fund is administered via your local authority and is likely to be in support of businesses that have been asked to close for the lockdown period.
  • It is likely to be calculated upon a business premises’ rateable value and there are some discretionary elements to these grants.
  • The level of support is likely to be between £1,000 and £5,000.
  • Limited information is available about the administration and application to these grants, please do keep an eye on your local authority website/Business Wales website for news and updates.

Cultural Fund

  • The is the second phase of this grant fund and was opened last week.
  • The fund is to support freelancers and businesses in the Cultural and Creative industries, encompassing culture, heritage and the arts.
  • Applications are quite detailed and may require a CV along with evidence of lost turnover and the impact of Covid-19 on the business.
  • This fund is administered via your local authority and is likely to be in support of businesses that have been asked to close for the lockdown period.
  • The Business Wales website does have an eligibility checker to define if you can apply for these grants and at what levels.

Details for all of the above are available at https://businesswales.gov.wales/coronavirus-advice/

Whilst we can’t give further details at this point we encourage you to go directly to the Business Wales website for updates and we will provide further information as and when we receive it.

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