The fund will remain open for 2 weeks or until funds are fully committed - Make sure you get your application in ASAP once applications open at 12 noon today.
Please have ready the following information before opening the online form:
- VAT registration Number (if applicable)
- Company or Charity Registration Number: (if applicable)
- The Sector the business works in
- Number of Employees
- Annual Turnover
- Bank account details – Bank, Sort code and Account number
- Which COVID-19 support funds you have applied for or been accepted for.
WHO CAN APPLY?
The ERF Sector Specific Support package is targeted at Hospitality, Tourism and Leisure (HTL) businesses or supply chain companies who are materially impacted with a greater than 60% impact of turnover as a result of the restrictions.
Businesses who have accessed the ERF Restrictions Business Fund could also apply for this fund if they meet the eligibility requirements.
For eligible businesses the package of support will provide the following grant awards:
- For single employee business, minimum grant of £2,500
- SMEs (up to 249 employees) - £1,500 per employee up to a maximum of 10 employees, representing £15,000 or for those employing more than 10, £1,500 per employee or self-declared operating costs for the restricted period (whichever is the lower amount).
- There would be an upper limit of £100,000 for SME businesses with a digital system based application.
- Large businesses (250+ employees) - £500 per employee for Welsh headquartered large business applicants to a maximum of £150,000, with a manual case by case application via the sector team.
Eligibility criteria and information required to make a Micro application:
- In excess of a 60% reduction in turnover through 4 December 2020 to 22 January 2021;
- Have an annual turnover of at least £50,000
- Meet one of the three of the below:
- a company registered with Companies House or the Charities Commission
- is VAT registered with turnover above £85k
-
sector exempt from VAT with turnover above £85k, see the details of VAT exemption.
- Operating address in Wales and has employees in Wales;
- A sustainable business plan exists to trade beyond the COVID-19 pandemic;
- Not eligible for the (COVID-19) Self-employment Income Support Scheme” through the UK Government.
-
Applicant businesses and organisation will be expected to align with the ethos and principles of the Economic Contract, and maximise use of the Job Retention Scheme for all eligible workers.
- Total of all Grants received in the last 12 months cannot exceed 100% of overall turnover for the same period