Minister for Economy, Vaughan Gething, has provided an update on the £120m financial support for businesses in Wales amid the spread of the Omicron variant of Covid-19, and Wales’ move to Alert Level Two.
In his statement, Vaughan Gething has said: “I can now confirm two important changes made to the eligibility criteria and grant award.
“Under the latest package, local authorities will deliver a discretionary Emergency Business Fund for businesses and sole traders who do not pay rates. Following discussions with partners, industry and trade unions, we have increased the award for qualifying sole traders, freelancers and taxi drivers who do not pay rates to £1,000.
“We have also amended the eligibility criteria for the level of reduced turnover required for the Economic Resilience Fund (ERF). To be eligible for an ERF grant, businesses in the hospitality, leisure and attractions sectors and their supply chains, must have experienced a material impact through reduced turnover of 50 per cent or more between December 2021 and February 2022 as compared to December 2019 and February 2020.
“An eligibility checker for the ERF element of the funding is available on the Business Wales website. The checker can be found at https://fundchecker.businesswales.gov.wales/businesssupport
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