Unveiled in March and paused in April, ERF is designed to support businesses, social enterprises and charities, which are not eligible for other Welsh Government and UK Government support schemes. The availability of the next phase of the fund, announced today 9th June, will enable some businesses excluded in the first round to access a further £100m of financial support. The fund will reopen for applications at the end June.
Business can now start to prepare to make applications for support from this second phase of the fund via the eligibility checker
Subject to specific eligibility criteria, the following types of businesses which have yet to receive financial assistance from the ERF will be able to apply.
- Micro businesses: eligible up to £10,000 (Sole traders still have to be VAT registered and employing staff on PAYE;limited companies that are not VAT registered qualify as long as their turnover exceeds £50,000 and they employ staff on PAYE)
- SME’s: eligible up to £100,000
- Larger businesses : eligible up to £690,000
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Posted on: Tuesday 9th June 2020