COVID-19: Torfaen Start Up Grant

TEE Covid Financial Support

This is a grant to provide financial assistance for newly created businesses that are facing operational and financial challenges as a result of the COVID-19 outbreak.

The purpose of the grant is to support newly created businesses with immediate cash flow support to help them survive the economic consequences of the Covid-19 outbreak. The grant seeks to complement other Covid-19 response measures to support businesses, social enterprises and charitable organisations in Wales.

The eligibility criteria for the grant is as follows:

  • Started trading between 1st April 2019 and 1st March 2020
  • Forecast annual turnover less than £50,000
  • Not in receipt of Self Employment Income Support, Non Domestic Rate Grant, Economic Resilience Fund
  • Businesses must be operating in Wales
  • Businesses must have one or more of the following
    • HMRC Unique Taxpayer Reference (UTR) Number
    • VAT Registration Number or a VAT exemption certificate
    • Written correspondence confirming registration with HMRC
    • Have experienced a drop in turnover greater than >50% as a result of the Covid-19 outbreak between April and June 2020
    • Supported businesses must aim to maintain employment for 12 months

Further guidance and  information on how to apply to follow week commencing 29th June 2020.

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Posted on: Thursday 25th June 2020