What additional support will be available to travel agencies, following a decline in their business as a result of COVID-19, especially given that the Welsh Government is encouraging everyone to take their holidays at home?
The latest round of our Economic Resilience Fund (ERF) is specifically targeted at businesses that continue to be affected by Covid-19 restrictions. The ERF will provide emergency and transition grants of up to £25k to eligible businesses to help meet their operating costs for the period between 1st May 2021 and 30th June 2021.
Supply chain businesses, including travel agencies, losing 60% turnover due to closed markets should consider an application to ERF. I would encourage travel agencies to check the eligibility checker against their specific circumstances. https://businesswales.gov.wales/coronavirus-advice/
Applicants have been able to apply to the ERF since the 24th May and the application window will remain open for two weeks until 7th June at 5pm for the Welsh Government element.
You may also wish to note that on 23 February we also announced an additional £270m for the Development Bank of Wales’ Flexible Investment Fund. This means more than £500m will be available through the fund up to 2030 to support the long term success and growth of our firms, in turn creating and protecting thousands of Welsh jobs.
Looking to the future, the Welsh Government is developing options for further funding support packages to help businesses develop and grow sustainably and responsibly. Further details will be announced on the Business Wales website in the coming weeks.