Economic development is devolved to Wales. People who are unable to speak Welsh/English may find it difficult to complete the application process. A list of Economic Resilience Fund Phase 2 recipients and regional breakdown information can be found here. All content is available under the Open Government License, except where otherwise stated, For further support or business advice call, Close the COVID-19 campaign and return to Business Wales, Find out more about Key performance indicators include: number of jobs safeguarded, number of jobs safeguarded for 12 months, number of businesses assisted and number of business survivals after 12 months. GOV.WALES uses cookies which are essential for the site to work. The eligibility checker will enable businesses to see if they can access the £80 million tranche of the fund which will support firms with projects that can help them transition to the economy of tomorrow. ... £400 million 19 Resilience Fund £200 million only in Phase 1 Applications open Friday 17th April at Available to all eligible Wales-based businesses including Legal Practices Competing with other sectors for this grant funding so get in EARLY! The ERF is designed to support businesses, social enterprises and charities, which are not eligible for other Welsh Government and UK Government support schemes. In addition, we will involve and engage with a wide range of stakeholders in shaping an effective economic reconstruction strategy for Wales. Welsh Government's COVID-19 Economic Resilience Fund - Phase 3 Opens Soon. On Wednesday, firms were able to apply for business development grants as part of the Welsh Government's £300m Economic Resilience Fund - Phase 3. Find all coronavirus guidance. cookies, Y wybodaeth ddiweddaraf am y cymorth sydd ar gael i fusnesau bach yn ystod yr achosion o coronafeirws, The latest information on the support available for small businesses during the coronavirus outbreak. The grant element, delivered via Business Wales, has processes in place to receive enquiries, assess applications and issue offers. Please click here to see the ERF Phase 1 Large Scheme Regional Breakdown Awarded Organisations. However, there are aspects which have the effect of benefitting some groups less: avoid, reduce or mitigate any negative impacts? This fund is intended to support businesses in Wales with development projects to assist with recovery from the effects of the Covid-19 pandemic and future sustainability. The Economic Contract requires businesses seeking investment from us to demonstrate the following as a minimum requirement: growth potential, fair work, promotion of health, and progress in reducing carbon footprint. With no arrangement/monitoring fees, interest is fixed at 2%, with interest/capital repayment holiday for the first year. Delivery Phase 1: In May, up to 40 finalists will be selected from the entries (up to 4 per challenge) and awarded £10k each to develop their solutions over approximately 5 weeks. ... the COVID-19 Economic Resilience Fund. Age - The application process for ERF is online. The ERF directly contributes to the Well-being goals of a prosperous Wales and a resilient Wales. Apply by 1 April 2021. The Economic Resilience Fund (Microbusiness) is open to applications from week commencing 26th October 2020. Welcome to the Regional NSW online grant application service, powered by SmartyGrants. Ken Skates MS, Minister for Economy, Transport and North Wales. An additional £140million is being made available to businesses across the whole of Wales. If you do not have a relationship with a Business … Approximately 9,000 applications … The funding is to cover the period from October 2020 to 31st March 2021. Welsh Government’s systems will be used to record information and provide monitoring information to assess the ERF’s effectiveness. Please click here to see the ERF Phase 1 Large Scheme recipients. Our chief regional officers and teams continued to engage with stakeholders ahead of phase 2. Women, young people and employees from a Black, Asian and Minority Ethnic (BAME) background are more likely to be employed in those industries. Find out more about The grant provides support to businesses/charities to deal with impacts of COVID-19 and seeks to mitigate cash flow pressures not addressed by other support. Economic Resilience Fund Phase 3 . No further guidance has been issued on the Local Lockdown Grant or the Self Employed Income Support Scheme (‘SEISS’) extension since my email last week. It is not considered that the ERF will have any direct impacts in relation to children’s rights, although safeguarding jobs will mean that parents/carers remain in employment. need to maintain operations through lockdown in spite of sales disappearing. It also has an indirect contribution to a globally responsible Wales and a more equal Wales via the economic contract. ERF plugs gaps in support and was developed to assist as many business as possible within the remit. This enhanced package of support, which will see us doubling the third phase of our Economic Resilience Fund and quickly getting money out to our businesses to support them through this firebreak and beyond, is designed to provide just that. Part of this role is to help create a stable, favourable business environment and address market failures. Grant Funding. RESILIENCE 1. the capacity to recover quickly from difficulties; toughness. There are aspects of the fund which benefit some groups less but these are considered to be minimal and no action has been taken. This further £100 million is to support businesses who were not eligible during Phase 1 such as social enterprises, charities and microbusinesses, or for other Welsh or UK Government schemes. cookies, Welsh Government Economic Resilience Fund Phase 1 Awarded Organisations. Business Wales Barriers Grant The Welsh Government’s Covid-19 commitment, put in place a programme of employment and skills support to help people back to work. You may begin anywhere in this application form. By 1 October 2020 we will write to equality, diversity and engagement contacts to collate feedback and identify any positive/negative impacts of the ERF which can inform future policies. Please click here to see the ERF Phase 1 Regional Breakdown Awarded Organisations. engagement with Association of British Insurers (ABI)/ major insurance companies. Resilience fund if you received any funding from Phase 1. Evidence suggests there will be significant impacts on the economy in light of COVID-19. Eligibility for phase 1 can be found here. What action is the Welsh Government considering and why? Eligibility for phase 1 can be found here. 1 Oct. We expect to support projects that improve the business operation from current … The preferred language of the applicant is asked for in the second round of ERF applications. Please click here to see the ERF Phase 1 Micro Scheme Awarded Organisations. Wednesday, 07 October, 2020. Wales has substantial employment in sectors classed as at risk of ‘significant immediate adverse impact’ by the UK Government. In addition, the Welsh Government’s knowledge and analytical services are developing a dashboard to monitor the impact of economic interventions. The Economic Resilience Fund (ERF) supports businesses, including social enterprises split by: The DBW fund supports businesses trading for over two years. This will enable limited companies that are not VAT … placements for young people who are currently on Universal Credit and at risk of long-term … That scheme is now closed and fully subscribed after more than 1500 applications were received within the first week of the scheme opening. The Minister for Economy Transport and North Wales (METNW) meets regularly with stakeholders to share/receive intelligence. Businesses across Wales can now find out if they can apply for funding from the third phase of the Economic Resilience Fund (ERF). File size 116 KB. Businesses throughout Wales can now find out if they can apply for funding from the third … We continue to monitor Wales’ economic conditions which can help inform future policies. Our economic contract helps create shifts in business behaviours so responsible business and employment practices become the norm in Wales. Your business must meet the definition of a Small and Medium Sized Enterprise to be eligible for funding from this scheme. Non-essential cookies are also used to tailor and improve services. The same process will be used in Phase 3 to further target support. As the number of people unable to apply online was considered to be low, mitigating measures were not implemented. This will close on 2 October 2020. The funding from the third phase of the Welsh Government’s Economic Resilience Fund (ERF) saw wider support being … Economy Minister Ken Skates said: “The latest phase of the Economic Resilience Fund will provide almost £300m of crucial support to businesses affected by the firebreak which is absolutely necessary to slow down coronavirus. A survey will be conducted after ERF closes and can be used to inform future policies. No mention if companies have to employ anyone other than the director. The fund will close to new applications midnight on the 20th November 2020. The purpose of these Funds were to support businesses and organisations with immediate cash flow support to help them through the economic consequences of the COVID-19 outbreak. We will seek views on the strategy and any potential impacts it may have Welsh Government's COVID-19 Economic Resilience Fund - Phase 3 Opens Soon. “The latest phase of the Economic Resilience Fund will provide almost £300 million of crucial support to businesses affected by the firebreak which is absolutely necessary to slow down coronavirus. The range of business experiences during this crisis will be varied, including those that: ERF provides invaluable support to businesses to help keep them afloat and safeguard jobs. ... Economic Resilience Fund Business Development Grants Phase 3. There are no details as yet as to when the funding will be available but an online eligibility checker to allow businesses to determine whether … “We know this is a difficult and challenging time for our business community and that is why we are more than doubling the amount available for this round of the fund. This file may not be fully accessible. The performance information helps inform these reviews. DBW’s and Welsh Government’s monitoring systems provide data to review the demographics of those seeking support and monitor success of the scheme. Businesses who have already benefitted from ERF Phase 1 or 2 or the Non Domestic Rates Grant may still apply for this latest round. The first tranche of the Economic Resilience Fund saw over £200 million reach businesses across Wales to support them through coronavirus. To see the ERF Phase 1 Micro Scheme Awarded Organisations click on this link: Welsh Government said: "The Covid-19 Economic Resilience Fund (Phase 1) provided financial assistance for eligible businesses and organisations who faced operational and financial challenges as a result of the Covid-19 outbreak. Welsh Government has relaunched the eligibility checker for the next phase of the Economic Resilience Fund (ERF) - which should reach some of those firms excluded in the first round. you can use the Kickstart Scheme to create new 6-month job. The ERF was developed to ensure as many businesses as possible can access support (including arts and cultural organisations) which also has an impact on Wales of vibrant culture and thriving Welsh language. 10th June, 2020. Last updated: 5 November 2020. ... “Two and a half months after the … The widespread nature of impacts of falling demand will permeate all sectors at a substantial scale. It was not possible to get around the issue of online applications while the country was in full lockdown. Phases 1 and 2 of the ERF have now CLOSED. The new and bolstered economic package will see: Payments of £1,000 for businesses that are eligible for Small Business Rates relief and occupy a … Resilience Partners will support innovators by leveraging … Please click here to see the ERF Phase 1 SME Scheme Awarded Organisations. The new phase of the fund was announced by Economy Minister Ken Skates at the end of last month, which initially saw £140m being made available to businesses. This information can be used to inform future policy. ERF was developed to fit within the wider policy context, including the policy framework set out in Prosperity for All: Economic Action Plan. Criteria is the same for phase 2 except the micro scheme enables non-VAT registered limited companies to apply. How have you applied / will you apply the five ways of working in the Well-being of Future Generations (Wales) Act 2015 to the proposed action, throughout the policy and delivery cycle? Criteria is the same for phase 2 except the micro scheme enables non-VAT registered limited companies to apply. Businesses can now find out if they are eligible to apply for financial support from the next phase of the Welsh Government’s Economic Resilience Fund (ERF). are able to adapt to remote ways of working, continue trading because their business is critical to the functioning of the nation. The Economic Resilience Fund (ERF) is a £500 million fund primarily aimed at supporting those businesses who would not qualify from previously announced support packages. From Monday 26 th October, Monmouthshire businesses will be able to apply for funding from the third phase of the Economic Resilience Fund (ERF). Business Development Grants portion of ERF 3 (£80m). The demand for the Business Development Grant element of the Economic Resilience Fund has been exceptional with nearly 6,000 applications … Due to the need to act quickly to ensure support is in place in light of the pandemic, it was not possible to discuss the ERF with stakeholders prior to the development/launch of the scheme, however, a wide range of stakeholders were briefed on 9 April. Some people (e.g. Other impacts will manifest through the supply chain, reduced workforces and cash flow issues. A list of Economic Resilience Fund Phase 1 recipients and regional breakdown information can be found here. COVID-19 and employment: analysis of protected characteristics. What you need to do at alert level 4. By continuing to use this site, you agree to our use of cookies. Entries to the Mayor’s Resilience Fund are now open! Our chief regional officers have engaged with regional stakeholders - a critical element in reaching out (particularly to normally hard to reach locations). Other longer-term monitoring criteria could include: Count of business in Wales, Gross domestic product (GDP) , and credit rating of businesses. Both the DBW and Business Wales have systems to record and monitor performance information which will be critical in determining the effective delivery of the ERF. Our regional relationship managers have engaged with businesses throughout the development and implementation of the ERF. Phase 3 focuses on recovery. The Welsh Government has launched a community survey into the impact of the restrictions imposed by COVID-19 on volunteering through the medium of Welsh and use of the Welsh language. Please click here to see the ERF Phase 1 Large Scheme Sector Breakdown Awarded Organisations. The eligibility checker will enable businesses to see if they can access the £80m tranch e of the fund which … Economic Resilience Fund (ERF) phases 1, 2 and 3: integrated impact assessment, Economic Resilience Fund (ERF) phases 1, 2 and 3: integrated impact assessment [HTML]. An assessment of how the COVID-19 specific fund is being used to benefit businesses across Wales. Please see below link and details for the newly announced Economic Resilience Fund 3, Welsh Government Funding for businesses. Sectors that were closed have seen a collapse in demand and other sectors are expected to be heavily impacted. older people) may not have access to IT equipment in order to submit the application. Monitoring information will help assess impacts of ERF support. The ERF supports the Well Being of Future Generations and fits with the Well-being objectives of a resilient Wales and prosperous Wales. We will seek views on the strategy and any potential impacts it may have for those with protected characteristics and Welsh language speakers. The COVID-19 Economic Resilience Fund (ERF) Phase 1 provided financial assistance for eligible businesses and organisations who faced operational and financial challenges as a result of the COVID-19 outbreak. IMPORTANT: Please read information below to assist you in completing your application online. Whilst ERF was a quickly developed, short-term measure to keep businesses afloat and safeguard jobs, it has positive impacts for the longer-term survival of businesses, thereby safeguarding the longer-term economic need. The ERF is considered to have mainly positive impacts for businesses, owners and employees in those sectors most affected by COVID-19. The ERF delivers mainly positive benefits for the majority of people with protected characteristics who are employed in the sectors most affected. All applications submitted with incomplete or incorrect data, will be rejected. Submissions closed at 5:00PM 30 April 2020 . 9 October 2020. Please click here to see the ERF Phase 1 Sector Breakdown Awarded Organisations. in a sector exempt from VAT with turnover above £85,000. The online eligibility checker has reopened and businesses will be able to make applications for support from this phase of the fund by the end of the month. Economy Minister Ken Skates said: “The latest phase of the Economic Resilience Fund will provide almost £300m of crucial support to businesses affected by the firebreak which is absolutely necessary to slow down coronavirus. This position will be reviewed should the ERF be extended. As the number of these businesses are considered to be low mitigating factors were not implemented. In addition, we will involve and engage with a wide range of stakeholders in shaping an effective economic reconstruction strategy for Wales.