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New start-up business grant available

Welsh Government has introduced a new grant to provide financial assistance for newly created self-employed businesses that are facing operational and financial challenges as a result of the Covid-19 outbreak.

The grant seeks to complement other Covid-19 response measures to support businesses, social enterprises and charitable organisations in Wales.

The grant of £2,500 can only be claimed by businesses that meet the following criteria:

 

  • started trading between 1st April 2019 and 1st March 2020
  • forecast annual turnover less than £50,000
  • not in receipt of the Self Employment Income Support Scheme, Economic Resilience Fund or the Business Rate Grant
  • businesses must be operating in Wales
  • businesses must have one or more of the following

 - HMRC Unique Taxpayer Reference (UTR) Number

 - VAT Registration Number or a VAT exemption certificate

 - Written correspondence confirming registration with HMRC

  •  have experienced a drop in turnover greater than >50% as a result of the Covid-19 outbreak between April and June 2020
  • supported businesses must aim to maintain employment for 12 months
  • only one application per business.

 Businesses can apply for the grant by accessing the Economic Resilience Fund Eligibility Checker on the Business Wales website https://fundchecker.businesswales.gov.wales/

 To find out more, visit www.businesswales.gov.wales

 

 


ID: 6637, revised 30/06/2020