What Is the ERF Restrictions Business Grant?
This post was originally published on 22 December 2020 and updated on 29 January 2021 for freshness, accuracy and comprehensiveness.
The Welsh Government announced a top up for the Economic Resilience Fund (ERF) Restrictions Business Grant as part of the ERF Restrictions Business Fund.
The grant is expected to provide financial assistance to the hospitality, tourism and leisure and non-essential retail.
The level of support will depend on your business sector.
Non-essential retail, hospitality, leisure and tourism
If you receive Small Business Rates Relief (SBRR), you will be eligible for a grant of £3,000.
Those with a rateable value of between £12,001 and £150,000, will be eligible for £5,000 if impacted by the restrictions.
If you receive SBRR and have a greater than 40% reduction in turnover during the restriction period, you will be eligible for the £3,000.
Those with a rateable value between £12,001 and £150,000, will be eligible for £5,000 if you have experienced more than 40% reduction in turnover during the restriction period.
If you received the ERF Restriction Business Fund Grant in December/January via your Local Authority, you will receive your payment into your bank account in February. You will not be required to re-register.
If you are eligible for the payments and haven’t received the grant to date please register and you may also register for the previous period at the same time.
Taken alongside the package for December and January, this will provide businesses with a minimum combined £6,000 – £10,000 grant before taking into account support via the ERF Sector Specific Fund, Jobs Support Scheme and the wider package.
If you are not eligible for the ERF Restrictions Business Grant, you may qualify for the ERF Restrictions Discretionary Grant.
You may also be eligible for the ERF Sector-Specific Support.
Find out how to apply for the ERF Restrictions Business Grant here.
If you have any questions regarding the support available, please don’t hesitate to contact us.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation