The third phase of the Economic Resilience Fund (ERF) is now live.
To apply please visit: https://fundchecker.businesswales.gov.wales/erfphase3
Most businesses are eligible to apply and the grants are available as follows:
- micro-businesses (employing between 1 and 9 people) can apply for up to £10,000 on the condition they match this with their own investment of at least 10 per cent.
- SMEs (employing between 10 and 249 people) can apply for up to £150,000 on the condition they match this with their own investment of at least 10% for small business (1-49 staff) and 20% for medium-sized (50-249) business.
- large businesses (employing 250+ people) can apply for up to £200,000 on the condition they match this with their own investment of at least 50%.
There are funds ring-fenced to support tourism and hospitality businesses and we understand there may not be a need for these businesses to match fund.
In addition, local authorities are also accepting applications for the Lockdown Business Fund.
This is broken down into the Lockdown Non-Domestic Rate Grant and the Lockdown Discretionary Grant.
Whilst we are told you should receive the Lockdown Non-Domestic Rate Grant automatically (if eligible) we recommend you still apply via your local authority website.
The Lockdown Discretionary Grant must be applied for and we understand applications are being dealt with on a first come first served basis so we strongly recommend an early application if you are eligible.
Details of both grants can be found here:
https://businesswales.gov.wales/coronavirus-advice/lockdown-business-fund
For more information, please contact us on 01792 410100 alternatively email mail@bevanbuckland.co.uk