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COVID-19: Welsh Government announce £500m Economic Resilience fund

Economic Resilience Fund

The Welsh Government has announced a new £500 million fund to provide extra support for Welsh businesses and charities experiencing a reduction in revenue as a result of the COVID-19 pandemic. 

Under the new scheme, micro-businesses employing between one and nine people may be eligible for a grant of £10,000, whilst SMEs may be eligible for a grant up to £100,000.

The Economic Resilience Fund is in addition to other support schemes already announced by the UK Government, including the Job Retention Scheme and the Self-Employed Income Support Scheme.

The new £500 million Welsh fund will support organisation of all sizes, including charities, with a focus on those which have not already benefited from COVID-19 support grants. 

If you need any specialist advice from our team of legal experts about the impact of COVID-19 on your business, please email commercial@loosemores.co.uk or call us on 02920 224433.  Please contact Senior Partner, Mark Loosemore, or Partner, Siôn Tudur to find out more.

For more information about accessing the support available, please visit Economic Resilience Fund.

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