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Is your business eligible for financial help?

 
Created on 11/10/2020 @ 08:56
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Businesses in Newtown are being urged to check if they are eligible for the third phase of financial help from the Welsh Government.

The Economic Resilience Funding was launched by the Welsh Government and Powys County Council is encouraging local businesses to apply amid the effects of Covid-19 on the local economy.

£140m is being made available throughout Wales.

Powys County Council Cabinet Member for Economic Development, Councillor James Evans said: “Of the new money being made available £20m will be ring fenced to support tourism  and hospitality businesses, an important sector in Powys, which has been hit hard by the pandemic.
 
“Applications for the new funding support open later this month but an eligibility fund checker for businesses is now live and I urged Powys business to see if the can access grant support in these difficult times.”
 
The new fund includes £80m worth of business development grants which are open to micro business, small and medium enterprises (SMEs) and large business.

Micro businesses (employing between 1 and 9 people) will be able to apply for up to £10k on the condition they match this with their own investment of at least 10 per cent.

SMEs (employing between 10 and 249 people) will be able to apply for up to £150K on the condition they match this with their own investment of at least 10% for small business (1-49 staff) and 20% for medium sized (50-249) business.

Large businesses (employing 250+ people) will be able to apply for up to £200K on the condition they match this with their own investment of at least 50%.

The Eligibility Checker for the fund is available at:  https://fundchecker.businesswales.gov.wales/erfphase3

Applications can be made w/c26th Oct on a first come first serviced basis.
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