Economic Resilience Fund (ERF) and Local Lockdown Business Fund

Applications not open yet, but the Welsh Government has launched an eligibility checker (07/10/20) to find out if a business can apply for funding from the third phase of the Economic Resilience Fund (ERF) Eligibility Checker. The eligibility checker will enable businesses to see if they can access an £80m tranche of the fund which will support firms with projects that can help the transition to the economy of tomorrow and will be open to micro businesses, SMEs and large businesses. £20m will be ring fenced to support tourism and hospitality businesses.

• Micro businesses (employing between 1 and 9 people) will be able to apply for up to £10,000 on the condition they match this with their own investment of at least 10%; For Tourism and Hospitality micro businesses there will be discretion for grant awards of up to 100%;
• SMEs (employing between 10 and 249 people) will be able to apply for up to £150,000. Small businesses (up to 50 employees) will be required to match this with their own investment of at least 10% and medium businesses (between 50 and 249 employees) with at least 20% of their own funding; For Tourism and Hospitality SME’s there will be discretion for grant awards of up to 100%;
• Large businesses (employing 250+ people) will be able to apply for up to £200,000 on the condition they match this with their own investment of at least 50%.

Also, of note is the Welsh Government is currently working with local authorities and the Welsh Local Government Association on the detail of the Local Lockdown Business Fund that will support businesses impacted by local restrictions. Further details and information on how to access this fund will be published shortly on the Business Wales website. The Local Lockdown Business Fund, worth up to £60m, will provide grants based on the Non-Domestic Rates (NDR) system to businesses who meet eligibility requirements and have been materially impacted by local lockdown. Eligible Retail, leisure and hospitality businesses in Wales occupying properties with a rateable value of between £12,001 and £51,000 could access a grant worth £1,500. A £1,000 grant will be available to eligible businesses that have a rateable value of £12,000 or less.