Economic Resilience Fund Update

Following the First Minister’s announcement of a short firebreak, the Economic Resilience Fund is being enhanced. It will have £300m available to provide financial support to businesses. Key elements of the support package will include: 

  • An extra £150m into phase three of the ERF to support to businesses affected by the firebreak
  • Every operating business covered by the small business rates relief scheme will receive a £1,000 grant payment. 
  • Retail, leisure and hospitality businesses which have to close and occupy premises with a rateable value below £50k will receive a one-off grant payment of up to £5,000. 
  • There will also be additional discretionary grants and support for smaller businesses which are struggling. 

Further information will be made available shortly.

Please visit Business Wales 

Posted on: Monday 19th October 2020