Firstly, it is worth noting that phases 1 and 2 of the Wales-only ERF saw 13,111 businesses awarded over £290m and the ERF Phase 3 has so far seen a total of over 35,000 businesses offered over £106m to date. To date 80% of ERF (all phases) recipients have been Micro businesses. However, whilst very welcome, it is disappointing that this round of funding will not reach businesses until January 2021.
ERF Restrictions Business Fund: The ERF Restrictions Business Fund will provide the following financial assistance:
How to access the ERF Restrictions Fund:
Businesses must be on the non-domestic rates (NDR) rating list for their local authority on 1 September. Hospitality businesses who received the Lockdown Business Grant in October via their Local Authority will begin receiving payments via the ERF Restriction Fund into their back account during December. These businesses will not be required to re-register their details. For all other eligible businesses to receive any of the ERF Restrictions Fund, businesses will need to register their details, as well as making a short on-line application to their respective local authority for the discretionary elements. These payments will start to reach businesses in January.
Businesses will be able to access the registration and application process to access the funding through the Business Wales and Local Authority websites. Further details on the process will be published by Business Wales shortly.
ERF Restrictions Discretionary Grant