The Welsh Government has launched the Restrictions Business Fund to support businesses (principally in the hospitality, tourism, leisure and non-essential retail sectors) with cash flow support and to help them survive the economic consequences of the additional restrictions put in place to control the spread of Covid-19 starting on Friday 4th December 2020.
The fund consists of two separate grants.
- Restrictions Business Fund Non Domestic Rate Grant
- Restrictions Business Fund Grant (Discretionary)
The Restrictions Fund Discretionary Grant will be closing for applications at 5pm Wednesday 27th January 2021
The discretionary grant of £2,000 is available to assist businesses that have:
- Been forced or required to close as a result of the national restrictions put in place for hospitality businesses
- The grant will also support supply chain businesses linked to the hospitality sectors and some retail businesses that estimate that the latest restrictions put in place will result in at least a 40% reduction in their turnover for December 2020 as compared to December 2019 (or September 2020 turnover if not trading in December 2019)
For further information and applying please visit : https://www.torfaen.gov.uk/en/Forms/Request/Restrictions-Business-Fund.aspx
The Restrictions Business Fund Non Domestic Rate Grant will remain open. For further information and applying please visit: https://www.torfaen.gov.uk/en/Forms/Request/Business-Fund-NDR-Grant-Hospitality.aspx
Businesses cannot apply for the NDR grant and the Discretionary Grant.
Posted on: Monday 25th January 2021