Following the announcement of a “Firebreak Lockdown” in Wales, details of the additional support now being offered to business are slowly becoming available.
It was yesterday (20/10/2020) confirmed that:
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.
We expect this guidance to be updated in the coming days so please keep checking this page for more information:
https://businesswales.gov.wales/coronavirus-advice/covid-19-support-business
In additional general questions about the new “Firebreak Lockdown” can be found here:
https://gov.wales/coronavirus-firebreak-frequently-asked-questions
We also remind all businesses to check their eligibility for the ERF Third phase business development grant which is in addition to the grants mentioned above and prepare to apply when applications are being accepted next week. You can check your eligibility here:
https://fundchecker.businesswales.gov.wales/erfphase3
Suggested Actions:
- If you are eligible for the Lockdown Business Fund, ensure your details are correct with your local authority so there is no delay to receiving your grant.
- Review the guidance on lockdown to ensure your business can continue to operate.
- Complete the eligibility checker for the ERF Third phase business development grant and if eligible prepare the high-level business plan and project description as well as obtaining quotes where required.
If you have any queries on the above, please contact us on 01792 410100 alternatively email mail@bevanbuckland.co.uk