Monmouthshire County Council is awaiting confirmation from Welsh Government regarding the economic support that has been announced for businesses affected by the firebreak lockdown. As soon as the full details are confirmed the eligibility criteria and application process will be posted on the council’s website at monmouthshire.gov.uk/business-advice
Deputy Leader of the Council, Bob Greenland said: “We welcome the news that the Economic Resilience Fund is being enhanced to almost £300m, which includes an extra £150m to support to businesses affected by the firebreak. Businesses who were at real risk of permanent closure during the national lockdown in spring are understandably worried about how they will get through this latest firebreak period. We are readying all our resources to help businesses access the Welsh Government funding that they are entitled to. It cannot come too soon.
“The latest announcement by the Welsh Government also included an additional £20m to the £80m fund already announced to help businesses develop in the longer term, of which £20m has been ring-fenced for tourism and hospitality – sectors that are being hit hard by cancelled half-term bookings, a time when many families look to take a holiday,” explained Councillor Greenland.
So far the details that have been confirmed are that the third phase of ERF (Economic Resilience Fund) will be open for applications from Monday 26th October and will remain open for four weeks. The Economic Resilience Fund also includes a Lockdown Business Fund which will be delivered by Monmouthshire County Council to eligible businesses of:
- Every business occupying a property with a rateable value of £12,001 or less will be eligible for a £1,000 payment.
- Retail, leisure and hospitality businesses forced to close during the firebreak lockdown period occupying a property with a rateable value between £12,001 and £51,000 will be eligible for a payment of up to £5,000.
- A discretionary £2,000 top-up grant will be made available on an application basis for those businesses with a rateable value of £12,000 or less who are forced to close by the firebreak lockdown.
- A further discretionary £1,000 grant will be made available to businesses on the same basis where they are materially affected by local lockdown measures for 21 days or more prior to the start of the firebreak lockdown period.
- Businesses need to be registered for Business Rates and have a business rate number.
Businesses will also be able to access the support available through the existing Job Retention Scheme or the new expanded Job Support Scheme.
“We anticipate confirmation of the details of the latest funding very soon and we looking to turn around applications as fast as possible so that Monmouthshire’s businesses receive their grants as swiftly as possible,” said Councillor Greenland. “Businesses across the county have already felt the impact of neighbouring lockdowns, and this next fortnight will hit them hard. In addition to applying for the latest round of the Economic Resilience Fund, I would ask businesses to use the eligibility checker to ensure they every bit of support they are entitled to at this difficult time.”
To find out more and to access the Eligibility Checker visit https://businesswales.gov.wales/coronavirus-advice/