2022 Co-Vid Response Page Community publications news Severnside News Town Centre 

Support and Funding for Businesses affected by 2021/2022 Restrictions

The Welsh government have released up to £120 Million Pounds to help support business who have been affected by recent restrictions. The Economic Resilience Fund (ERF) open on Monday January 17th for 2 weeks. Businesses must apply again n order to receive funding.

Under the latest package, retail, hospitality, leisure and tourism businesses that pay Non-Domestic Rates will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their rateable value. Businesses will need to re-register their details, through a quick and easy online process, with Monmouthshire County Council in order to receive their payments. Registration will open via local authority websites from the week commencing 17th January 2022.

Importantly, The Welsh Government has decided to extend this support to non-essential retail so that smaller shops and Travel Agents will be supported and our high streets can continue to thrive. In England, support is not available to non-essential retail.

In addition, impacted hospitality and leisure businesses and their supply chains will be able to apply for top-up funding from a new Economic Resilience Fund (ERF). Eligible businesses can apply for grants of between £2,500k – £25,000, with grants dependant on their size and number of employees. The application window for ERF will open in the week commencing 17th January 2022 with payments starting to reach businesses within days.

Local Authorities will also administer a Discretionary fund for business and sole traders who do not pay rates. The fund will provide £500 to sole traders and freelancers and £2,000 to employing businesses in impacted sectors.  Further details to follow on Business News Wales Home – Business News Wales

An eligibility checker which will help businesses to gauge how much they can expect to receive under the new support package will be available on the Business Wales website which can be accessed here https://businesswales.gov.wales/coronavirus-advice/

Related posts

%d bloggers like this: