The Welsh Government have announced that the Economic Resilience Fund (ERF) is now open for applications, providing businesses in Wales with emergency financial support during the pandemic.
What is the ERF?
A Welsh Government fund of £120 million that businesses in Wales can receive if they were impacted by the alert level two measures put in place due to rise of the Omicron COVID-19 variant.
Who can apply?
Businesses in Wales in the hospitality, leisure and attraction sectors, and their supply chains, who have been materially impacted by a greater than 50% reduction of turnover between 13 December 2021 and 14 February 2022.
Grants between £2,500 and £25,000 are available, depending on your business’ size and the number of employees you have.
How long is it available?
Applications are open for two weeks, closing at 4pm on 1 February 2022.
Once you have applied, if you are eligible to receive a grant, your payment will be with you in a matter of days.
How do I apply?
You can check your eligibility and apply here.
If you need any advice or support on your eligibility and the application process, our professionals at Chambers Wales South East, South West and Mid can help you. Get in touch today.
Is there any other support?
Non-essential retail, hospitality, leisure and tourism businesses can also receive support from the Non-Domestic Rates grant administered by local authorities across Wales. Depending on their rateable value, businesses will be entitled to a payment of £2000, £4000 or £6000.
Local authorities are also administrating a discretionary fund for sole traders, freelancers, taxi drivers and businesses that employ people but do not pay business rates.