Following the First Minister’s announcement of a short firebreak, the Economic Resilience Fund is being enhanced to almost £300m, which includes an extra £150m to support to businesses affected by the firebreak. It also includes an additional £20m to the £80m fund already announced to help businesses develop in the longer term, of which £20m has been ring-fenced for tourism and hospitality.
The third phase of ERF also includes a Lockdown Business Fund which will be delivered by local authorities to eligible businesses of:
• Every business occupying a property with a rateable value of £12,001 or less will be eligible for a £1,000 payment.
• Retail, leisure and hospitality businesses forced to close during the firebreak lockdown period occupying a property with a rateable value between £12,001 and £51,000 will be eligible for a £5,000 payment.
• A discretionary £2,000 top-up grant will be made available on an application basis for those businesses with a rateable value of £12,000 or less who are forced to close by the firebreak lockdown.
• A further discretionary £1,000 grant will be made available to businesses on the same basis where they are materially affected by local lockdown measures for 21 days or more prior to the start of the firebreak lockdown period.
Further information will be made available shortly.
Need help? See our funding frequently asked questions
These packages of support are designed to cover as much of the Welsh Economy as possible, and are mainly focused around providing financial support for businesses, however business advisory support is still available online through our Business Wales service to assist you with financial planning and recovery when the outbreak ends, and businesses start to consider their recovery.
This is an incredibly difficult time for the whole of the Welsh economy, the support that Government is providing is designed to support as many businesses as possible through the outbreak.
Provision of Critical Equipment and Personal Protection Equipment (PPE)
The Welsh Government is working closely with business and industry to get supplies of critical equipment including cleaning products and PPE to front line workers facing shortages during the COVID 19 outbreak. If you feel you can contribute, information on how to engage is available here.