1. Business Rates grants
The Welsh Government has introduced two grants for businesses that are registered as paying business rates on their premises, on or before 20 March 2020.
For Newport businesses these grants will be administered by Newport City Council, read more...
2. Research and development support
£750 million of targeted support grants for the most research and development intensive small and medium size firms is available through Innovate UK’s grants and loan scheme.
3. Self-employment Income Support Scheme
From 13 May 2020, the Self-employment Income Support Scheme (SEISS) will provide a grant worth 80% of average monthly trading profit over the last three years, up to £2,500 per month, to support self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19.
4. Grants for charities, sports clubs and not for profit organisations
The Welsh Government has announced a £10,000 business support grant for small charities within the retail, leisure and hospitality sector to help them respond to the financial challenges of COVID-19.
This package will support properties with a rateable value of £12,000 or below, and includes charity run shops, sports premises, community centres.
You cannot apply for this grant if you have already been awarded COVID-19 grant(s) amounting to £10k or more from the:
- Welsh Government Economic Resilience Fund (ERF), or
- Sport Wales Emergency Relief Fund
Please email email@example.com with any queries about eligibility based on COVID-19 related grants you may have already received.
5. Economic Resilience Fund grants
The Economic Resilience Fund is paused as of 27 April 2020
In its first week the second phase of the Economic Resilience Fund received almost 9,000 requests for support. Due to the scale of demand, Welsh Government increased the amount of funding for this phase to £300 million. The Fund is now paused following the very large number of applications to give Welsh Government an opportunity to consider what further support businesses, charities and social enterprises need. Updates will follow.
The Economic Resilience Fund is a £500 million fund primarily aimed at supporting those businesses who would not qualify from previously announced support packages.
Businesses can benefit from a £400m emergency pot providing:
- Grants of £10,000 for micro-businesses employing up to nine people
- Grants of up to £100,000 for small and medium sized firms with between 10 and 249 employees
- Support for larger Welsh companies, which are of critical social or economic importance to Wales