Economic Resilience Fund
- Charlotte
- Jun 2, 2021
- 2 min read
The Welsh Government is making a further package of business support available through the Economic Resilience Fund (ERF).
The ERF will provide support in the form of cash grants for businesses, social enterprises and charities and associated supply chain businesses that have experienced / will continue to experience a material negative impact as a result of ongoing COVID-19 restrictions.
The grants will help meet operating costs (excluding staff wages) for the period 1st of May 2021 to 30th of June 2021 for qualifying organisations directly impacted by the restrictions in place from the beginning of the period.
The economic resilience fund is now open for applications from businesses within the Wrexham Borough. There is stricter criteria, but worth taking a look at in case you qualify, particularly those in hospitality and construction industries.
Specifically, the ERF will support businesses that are either:
a) Forced to remain closed by the on-going restrictions between 1 May 2021 and 30 June 2021 b) Unable to open indoors between 1 May 2021 and 17 May 2021 c) A venue which caters exclusively for weddings and events with a regulatory restriction capacity of 30 guests (but can accommodate a greater amount in normal circumstances) d) A supply chain business that generates 60% or more of its sales revenue from businesses falling into categories a), b) and/or c) AND (in addition this applies to all the above): Have experienced a material negative impact through reduced turnover of 60% or more in May and June 2021 as compared to May and June 2019 caused directly by on-going COVID-19 restrictions.
The Fund is administered in two parts; support for businesses with a turnover greater than £85,000 will be provided directly by the Welsh Government (applications for this element of the fund will close at 5pm on 7th June); support for businesses with a turnover of less than £85,000 is administered by Local Authorities.
The application is for qualifying businesses operating in Wrexham with a turnover of less than £85,000. Applications will close at 5pm on the 30th June 2021.
Turnover levels should be for a normal trading year or an estimate if the business started post March 2020.
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