Posted: Mon 5th Oct 2020
_The Welsh government announced on 28 September a range of new funding schemes to help small business owners and freelancers deal with the impact of coronavirus.
This post is being regularly updated with the latest information about the schemes.
Get more help and advice in the Enterprise Nation coronavirus small business support hub._
Freelancers working in the arts, creative industries, arts and heritage events, culture and heritage and whose work has direct creative/cultural outcomes can apply for a £2,500 grant. A total of £7m is available.
Freelance individuals need to show proof of work between April 2019 - July 2020 and proof of work cancelled between April 2020 - March 2021. Full guidance for the Cultural Recovery Fund freelancer grants is here.
The funding is targeted at those that have received little or no support to date.
Phase two of the fund is now open for applications. Freelancers can check eligibility and apply here. The length of time applications are open for each local authority is dependent on the number of applications they receive.
With Wales subject to a firebreak lockdown until 9 November to combat the spread of coronavirus, the Welsh government said allocated £60m to support businesses affected by the restrictions.
To be eligible, businesses must be able to demonstrate a drop in turnover greater than 40% as a result of a local lockdown.
Retail, leisure and hospitality businesses in Wales occupying properties with a rateable value of between £12,001 and £51,000 can access a grant of £1,500, with £1,000 grants available to eligible businesses with a rateable value of £12,000 or less. Full guidance is here.
There is also a discretionary grant of £1,500 of for retail, leisure and hospitality businesses that do not pay business rates, and a £1,000 grant for businesses not in the retail, leisure and hospitality sector and not paying business rates. Full guidance is here.
Businesses are eligible when their local area has been in lockdown for a minimum of 21 days. Applications will be open for businesses in each local area on or shortly after the 28th day of local restrictions having been in place.
The Local Lockdown Business Fund grants for Wales are administered by local authorities. There is a list of websites here.
Applications for the Lockdown Business Fund close at 5pm on the 20th November or when the fund is fully committed.
The third round of the Welsh government's ERF will provide funding to businesses "with projects that can help them transition to the economy of tomorrow". Of the total £80m, £20m will be ring fenced to support tourism and hospitality businesses face challenges during the winter months.
The business development grants will work as follows:
Micro businesses (employing between one and 9 people) will be able to apply for up to £10,000 if matched with their own investment of at least 10%.
SMEs (employing between 10 and 249 people) can apply for up to £150,000 if matched match with their own investment of at least 10% for small business (1 to 49 staff) and 20% for medium sized (50 to 249) businesses.
Large businesses (employing 250+ people) can apply for up to £200,000 if matched with their own investment of at least 50%.
Businesses can check eligibility for ERF here and applications open the week commencing 26 October.
We are keeping you updated on the latest information on how to access the government's coronavirus small business support and help in Enterprise Nation's coronavirus business advice hub. Follow Enterprise Nation on Twitter too for updates.
The Amazon Small Business Accelerator helps businesses start, grow and accelerate with free training, services and support. To access the e-learning, click here to sign up or if you're already an Enterprise Nation member, log in to your dashboard.