Further Welsh Government funding for businesses now available

The Welsh Government is making a further package of business support available through the Economic Resilience Fund (ERF).

The ERF will provide funding in the form of cash grants for businesses, social enterprises and charities and associated supply chain businesses that have experienced a material negative impact as a result of ongoing Covid-19 restrictions.

The funding is being administered in two ways: support for businesses with a turnover of less than £85,000 is being administered by local authorities. The grant will be open to applications from businesses in Bridgend county borough from today (Tuesday 1 June) and will close at 5pm on 30 June 2021.

The grants range from £2,500 up to £10,000 and aim to help meet operating costs (excluding staff wages) for the period 1 May 2021 to 30 June 2021.

Decisions for applications will be made on an ongoing basis once the fund is open with the aim of decisions being made within 30 working days of the closing date of the fund.

Once an applicant has submitted their application, they will immediately see a page on their screen, confirming that the local authority has received their application. For more details or to apply visit the Bridgend County Borough Council business support page.

Support for businesses with a turnover greater than £85,000 will be provided directly by the Welsh Government. Applications for these grants which range from £2,500 up to £25,000 are now open - they will close at 5pm on Monday 7 June. For details on these visit the Welsh Government website.

Specifically, the ERF will support businesses that are either:

1. a) Forced to remain closed by the on-going restrictions between 1 May 2021 and 30 June 2021
2. b) Unable to open indoors between 1 May 2021 and 17 May 2021
3. c) A venue which caters exclusively for weddings and events with a regulatory restriction capacity of 30 guests (but can accommodate a greater amount in normal circumstances)
4. d) A supply chain business that generates 60 percent or more of its sales revenue from businesses falling into categories a), b) and/or c)

In addition, businesses must have experienced a material negative impact through reduced turnover of 60 percent or more in May and June 2021 as compared to May and June 2019 caused directly by ongoing Covid-19 restrictions.

Turnover levels should be for a normal trading year or an estimate if the business started post March 2020.

Bridgend County Borough Council leader Huw David said: “We urge all businesses affected by ongoing coronavirus restrictions to check their eligibility for these cash grants now and if they are eligible to apply. The Business Wales website hosts a series of questions which help businesses determine whether they should apply.

“It’s important to note there are no automatic payments taking place for businesses within this fund.

“For those eligible businesses with a turnover of less than £85,000, please rest assured we will be working as quickly as possible to ensure applications are processed as they come in.”