Find out what support there is for your Welsh business during Coronavirus
Find out what business support is available for your Welsh business
Business support in Wales
The Business Wales and Development Bank of Wales websites are excellent points of reference, which are updated regularly:
Financial Support and Grants
- Information about the financial support and grants that are available to employers, including the Economic Resilience Fund (ERF) can be found at: https://businesswales.gov.wales/coronavirus-advice/support/financial-support-and-grants
Economic Resilience Fund Applications
Once appraised the aim is to pay successful applicants within two weeks, once they have returned the Grant Offer Letter to us by email to firstname.lastname@example.org
Message from Ken Skates, the Welsh Government's Economy and Transport Minister:
"I fully appreciate that it is very disappointing news for businesses that are unsuccessful in obtaining financial support. As a government we need to find a balance between providing a level of support that can help to plug the significant cash flow gap businesses are facing and also support as many enterprises as possible given the resources we have.
"We took the decision to pause our new Economic Resilience Fund on Monday 27 April to examine how we use the remaining funding to maximise the benefits for those businesses who need it and to protect our economy."
The second phase of the Economic Resilience Fund eligibility checker for new applications will open on 15 June, allowing businesses time to prepare their applications.
- The full applications phase is expected to open on 29 June.
- Phase 2 of the Fund will operate in the same way as Phase 1 but with an update to the eligibility of the micro scheme.
- Limited companies who are not VAT registered will now also be able to access the Fund, subject to meeting the other criteria for the fund. The ERF fund can only support a business on one occasion.
Rates Relief and linked business grants
Rates relief information can be accessed at https://businesswales.gov.wales/coronavirus-advice/support/business-rates-relief
- Where possible, the relief will automatically be applied to non-domestic rates bills for eligible properties by local authorities. Local authorities also have the power to provide discretionary relief to ratepayers who fall outside the established non-domestic rates relief schemes.
- The Welsh Government Business Grants Scheme is administered by local authorities. Further details of the Scheme and links to local authority websites is available at https://businesswales.gov.wales/coronavirus-advice/support/financial-support-and-grants/covid-19-grant
- Businesses should receive a notification from their local authority once the application has been processed. These are unprecedented times and local authority officers are working extremely hard to process applications as quickly as possible.
- It is not possible to list every type of business which might be eligible for the non-domestic rates relief or grant support in the guidance and local authorities have some discretion in determining if a business is eligible and whether to award a grant.
- To ensure clarity and consistency in administering the schemes, there are no plans to amend the eligibility criteria.
UK Government Support
Some of the support schemes available in Wales are led by the UK Government. Key points of reference include:
- UK Government Business support https://www.gov.uk/government/news/coronavirus-covid-19-guidance-for-employees-employers-and-businesses
- UK Government guidance to employers and businesses about Coronavirus including information and guidance on areas such as Statutory Sick Pay, advice for employees which have travelled to high risk areas and home working https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19
- HMRC Coronavirus helpline for businesses and self-employed people - 0800 0159 559.
- British Business Bank - https://www.british-business-bank.co.uk/
- Bounce Back Loan Scheme - https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-schemes/bounce-back-loans/
- Coronavirus Job Retention Scheme - https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme
- Self-Employment Income Support Scheme - https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme