What grant support is the Welsh Government making available to small businesses operated by owner/proprietors without employees that have been adversely affected by coronavirus restrictions?
To date these types of business would have potentially been eligible for either NDR-based grants or the local authority-delivered Discretionary Fund.
For the latest round of the ERF, in line with the scheme guidance, owners and partners within the business who pay themselves via PAYE are designated as employees. In addition, for those businesses with a turnover of less than £85k, the PAYE requirement is removed, so the owner/partner can apply for the latest round of the ERF, subject to other criteria being met.
The eligibility checker is available on the Business Wales website https://businesswales.gov.wales/coronavirus-advice/ and the application window is remain open until 5pm on 7 June for businesses with turnover greater than £85k. The application window is open until the end of June for businesses with a turnover of less than £85k, and applications should be made via their local authorities.
On 23 February, the Welsh Government announced an additional £270m for the Development Bank of Wales’ Flexible Investment Fund. More than £500m will now be available through the fund until 2030 to support the long-term success and growth of firms, helping to create and protect thousands of Welsh jobs.
The Welsh Government has also extended the 100% rates relief scheme for businesses in retail, hospitality, leisure and tourism sectors for a further 12 months.
The Discretionary Assistance Fund (DAF) also provides grants to people in need of urgent help during the crisis, including those waiting for benefit payments and those in employment who are facing hardship.