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.
We are very pleased to announce that we have now awarded 58 grants totalling £145,000 to our new start-up businesses in Torfaen. There is funding available for just 5 further businesses, so act now!
The eligibility criteria for the £2,500 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
Business must also 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.
For further information on this grant please read the Start Up Grant Guidance Notes.
The Eligibilty Checker for this grant can be found here.
Applications can be made from 29th June 2020 via https://iweb.itouchvision.com.
Posted on: Wednesday 29th July 2020