April 2020
Economic Resilience Fund - Apply Now
The Economic Resilience Fund Application is now live.
 
If you are not eligible for either Welsh Government Business Rates Grant or Support for the Self Employed, we are advising members to submit an application.

This is a limited pot so please put your application in ASAP! The business loans which were announced last week were over subscribed in 4 days.

Please make sure that you demonstrate the below in your application where possible:

Micro & start up businesses
Micro businesses, including start-ups, employing 1 to nine employees could be eligible for up to £10k support.

Please note that the eligibility fund checker states that Micro Busineses and new start-up businesses can apply if you have between 1 - 9 paid employees.

We understand that this includes sole traders employing staff, which can be the business owner, however the eligibility checker is unclear on this so we are recommending to members to complete the application for consideration and make good business case for grant support.

Businesses in this bracket could qualify for support from the fund if they:

  • Have experienced in excess of a 40% reduction in turnover since 1 March 2020
  • Can demonstrate that efforts have been made to sustain business activity
  • Are not pursuing other forms of Welsh Government non-repayable grant funding support
  • Are not entitled to business rate relief grant
Small and medium sized businesses
Small and medium sized firms with between 10 and 249 employees could be eligible for grants of up to £100,000 if they:

  • Have experienced in excess of a 60% reduction in turnover since the first day of March
  • Are not eligible for business rate relief grants, or if they are, that amount would be deducted from their allocation from this fund
  • Have a sustainable business plan to trade beyond the Covid-19 pandemic
  • Confirm no future compulsory redundancies will be made as long as the Coronavirus Job Retention Scheme is in place
  • Are not pursuing any other form of Welsh Government non-repayable grant funding support
MWT CYMRU FACEBOOK GROUP
If you haven't already, please make sure you join us on our MWT Cymru Facebook Members Group. There has been a lot of activity over the last few days with members sharing information. This is the fastest way to receive updates as they happen.