Grant support for start-ups open for applications

Applications have opened for a Welsh Government start-up grant to help new businesses deal with the coronavirus pandemic.

The grant will offer support to businesses that were set up between April 1, 2019 and March 1, 2020, which aren’t able to claim from the UK Government’s Self Employment Income Support Scheme (SEISS).

The grant, which opened for applications on Monday (June 29), will provide £2,500 each to 2,000 businesses across Wales.

Grant applications made by businesses in Caerphilly County Borough will be dealt with by Caerphilly County Borough Council.

To be eligible for the start-up grant, businesses must:

• Have not received funding from the Welsh Government’s Economic Resilience Fund or the non-domestic rates grant
• Have less than £50,000 turnover
• Have experienced a drop in turnover of more than 50% between April and June 2020
• Applicants will need to submit a two-page application form and self-declaration supported by evidence

First Minister Mark Drakeford said the announcement will “help to support new businesses in Wales which are currently falling through the gaps of existing financial assistance schemes.”

Mr Drakeford added: “A number of people who have started a business in the last year don’t qualify for support from the UK Government’s SEISS and it remains unclear if it will take steps to ensure they will change the criteria to help this group of people.

“This is why we have acted and set up a start-up grant. This has come from our work with Welsh Local Government Association and local authorities to look at what more support the business community needs at this time.”

Economy Minister Ken Skates said the grant would “reduce the risk of firms having to close and people becoming unemployed.”

More information can be found at fundchecker.businesswales.gov.wales/

Meanwhile, the second phase of Welsh Government’s Economic Resilience Fund has also opened to applications.

Mr Skates said there would be “more opportunities for microbusinesses, SMEs and large businesses to apply for funding” as part of the second phase.