Phase 2 of Economic Resilience Fund to open next month


The second phase of the Economic Resilience Fund (ERF) will open in Wales next month, Economy minister Ken Skates has said . 

The £400m ERF was launched by the Welsh Government in March and has received more than 9,500 applications, with over 6,000 offers already made to date - worth over a £100m.

 In terms of eligibility, Phase 2 of the Fund will operate in the same way as Phase 1 but with an update to the micro scheme. Non-VAT registered businesses, the more recently self-employed and start-up businesses will be able to apply.

The eligibility checker for new applications will hopefully be open by the middle of June 2020, allowing companies’ time to prepare their applications and Welsh Government expects to open the fund for full applications later in the month. 

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Posted on: Friday 22nd May 2020