• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • LinkedIn
  • Twitter
Association of Voluntary Organisations in Wrexham: AVOW
MENUMENU
  • Home
  • About AVOW
        • Meet our Trustees
        • Annual Review
        • Meet the Team
        • Become a member
        • Our Ethics
  • Services
        • Volunteering
        • AVOW Coronavirus Response
        • Grants and funding
        • Information sheets
        • Shopmobility
        • Practical Services
        • Entrepreneurship
        • Play Provision
        • Little Sunflowers
        • Carers Service
        • BME Skills Project
        • Health, Social Care and Wellbeing
        • Support for Organisations
  • News
  • Events
  • Jobs
  • Training
  • Volunteering
        • Volunteer Star Awards
        • Volunteer Experiences
        • Volunteer with AVOW
        • Information for Organisations
        • Volunteering Opportunities
        • Youth Volunteering
  • Donate!
  • Contact
Home / Coronavirus (COVID-19) / Welsh Government Economic Resilience Fund

Welsh Government Economic Resilience Fund

The fund will provide additional financial support during the coronavirus pandemic and will help organisations to manage cash flow pressures. It will help to address some of the gaps not met by schemes already announced by the UK Government, Welsh Government and Development Bank of Wales.
Minister for Economy, Transport and North Wales, Ken Skates said:

“This is another important step designed to help those businesses and charity organisations who are struggling with cash flow problems. The fund will go live for applications next Friday (17th April), but I must reiterate the importance of those considering applying to go through the guidance to establish whether they are likely to be eligible. This fund will reach a significant number of businesses, charities and social enterprises, but it’s clear it won’t reach all.”

To be eligible for this second phase of support, businesses, charities and social enterprises, must meet criteria including:

Micro businesses

including start-ups, employing up to nine employees could be eligible for up to £10k support. This includes sole traders employing staff. Businesses in this bracket could qualify for support from the fund if they:

  • Have experienced more than a 40% reduction in turnover since 1 March 2020
  • Can demonstrate that efforts have been made to sustain business activity
  • Are not pursuing other forms of Welsh Government non-repayable grant funding support
  • Are not entitled to business rate relief grants
  • Are VAT registered or exempt from VAT
  • Operating address is in Wales and have employees in Wales

Small and medium sized firms 

with between 10 and 249 employees could be eligible for grants of up to £100,000 if they:

  • Have experienced more than a 60% reduction in turnover since 1 March 2020
  • Are not be eligible for business rate relief grants, or if they are, that amount would be deducted from their allocation from this fund
  • Have a sustainable business plan to trade beyond the Covid-19 pandemic
  • Confirm no future compulsory redundancies will be made as long as the Coronavirus Job Retention Scheme is in place
  • Are not be pursuing any other form of Welsh Government non-repayable grant funding support
Funding will also be available to support large businesses with more than 249 employees.
Applications will be considered on a case-by-case basis to consider where funding can be deployed most effectively to compliment other sources of support.
Full details on the eligibility criteria can be found on the Welsh Government website. 
The application process for businesses qualifying for financial support from the Economic Resilience Fund will open on Friday 17 April 2020 via the Business Wales website.

We welcome your enquiries!

You can phone us on 01978 312556. Or use our contact form here

Primary Sidebar

Search

Post Categories

jobs
training
volunteer

Footer

Useful Pages

  • Home
  • Accessibility
  • Shopmobility
  • Contact us

Legal

  • Terms and Conditions
  • Privacy Policy

Copyright © 2021 Association of Voluntary Organisations in Wrexham. All rights reserved.

Charity Number: 1043989

Company Limited by Guarantee Number: 2993429

Site design and development

betsi cadwaladr
investors in people
third sector support wales
welsh assembly government
wrexham council