Economic Resilience Fund Phase 3

Businesses across Wales can now find out if they can apply for funding from the third phase of the Economic Resilience Fund (ERF).

The eligibility checker will enable businesses to see if they can access the £80 million tranche of the fund which will support firms with projects that can help them transition to the economy of tomorrow.

Of this, £20 million will be ring fenced to support tourism and hospitality businesses who are facing particular challenges as they enter the winter months.

The £80 million worth of business development grants will be open to micro businesses, SMEs and large businesses:

• micro businesses (employing between 1 and 9 people) will be able to apply for up to £10,000 on the condition they match this with their own investment of at least 10 per cent
• SMEs (employing between 10 and 249 people) will be able to apply for up to £150,000 on the condition they match this with their own investment of at least 10% for small business (1-49 staff) and 20% for medium sized (50-249) business
• large businesses (employing 250+ people) will be able to apply for up to £200,000 on the condition they match this with their own investment of at least 50%

The Eligibility Checker for this part of the fund can be found at https://fundchecker.businesswales.gov.wales/erfphase3

The grant fund will be open for applications from the week commencing 26 October 2020 and remain open for four weeks.

Source: Business Wales 

https://businesswales.gov.wales/news-and-blogs/news/economic-resilience-fund-phase-3