News
Business Support Update for qualifying businesses in the Wrexham County Borough
20 Jan 2022
Below you will find an update on schemes made available by the Welsh Government’s £120 million support package for businesses affected by level 2 restrictions in Wales:
Discretionary Emergency Business Fund – opening on 20th January for applications:
It has been confirmed that this scheme will be opening for applications from qualifying businesses in the Wrexham County Borough area around 12 noon on Thursday 20th January, when a link to the application form will be made available at the bottom of the following web-page (please note, a link to the form will not be available before this time). The scheme will be open for applications for two weeks: https://www.wrexham.gov.uk/service/covid-19-support-businesses.
Delivered by local authorities, qualifying businesses in the leisure, tourism, retail and hospitality sectors, and their supply chains, that are ineligible for the Non Domestic Rate grant and Economic Resilience Fund (details of which can be found below) will be able to apply for a grant via the Discretionary Emergency Business fund. The full guidance notes, which can be found via the link below (and should be read before submitting an application), provide eligibility criteria:
As a brief overview, some of the key eligibility criteria for this scheme includes:
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Qualifying businesses need to have been trading up to the 13th December 2021 and expect to be trading until the 14th February 2022
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Businesses need to have an annual turnover of at least £10,000
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The business must be an applicants main source of income (>50%)
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The business can not be in liquidation or dissolved or in process of being struck off
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Businesses that are liable to pay non-domestic rates (this includes those receiving rate relief) are not eligible for this scheme
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Businesses that have received funding in the last 12 months which exceeds 100% of their turnover in the 2019 financial year, should not apply for this fund.
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Only one application can be submitted per business
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Supply chain businesses are defined as a business that generates 60% or more of its sales revenue from businesses directly impacted by the restrictions, who will see a >40% reduction in turnover during December 2021 and January 2022 as compared to December 2019 and January 2020 (or a comparable two month period if the business was not trading in December 19 and January 2020).
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Retail businesses are defined as those who would normally be eligible for rates relief as specified via: https://businesswales.gov.wales/non-domestic-rates-retail-leisure-and-hospitality-rates-relief-wales-2021-22
Via this scheme businesses who do not employ anyone apart from the owner will be able to apply for a £1000 grant and businesses that employ people can apply for £2,000.
Economic Resilience Fund – open for applications:
This fund is being delivered by Business Wales and is targeted at businesses with a turnover of more than £85,000 in the hospitality, leisure and attraction sectors and their supply chains who have been materially impacted by a greater than 50% reduction in turnover between 13th December 2021 and 14th February 2022 compared to December 2019 and February 2020. This scheme opened for applications on 18th January, businesses that are eligible based on their answers to questions via the eligibility checker will be directed to an application form: https://fundchecker.businesswales.gov.wales/businesssupport.
Eligible businesses will be able to apply for a grant ranging from £2,500 to £25,000, with the value dependant on the type of business and how many full time equivalent employees the business has. The fund will close for applications at 4pm on Tuesday 1st February. Full guidance notes and answers to frequently asked questions for this scheme can be found via the link below:
https://businesswales.gov.wales/economic-resilience-fund-erf-december-february-2022
Further information can be found here
Source: Businessline Wrexham
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