The Welsh Government has launched the Lockdown Discretionary Grant as part of the Lockdown Business Fund to help businesses survive the economic consequences of the national firebreak lockdown.
To be eligible for the grant you must:
- Have been trading before 1 September 2020
- Have one or more of the following
- Unique Taxpayer Reference (UTR) Number
- VAT Registration Number or a VAT exemption certificate
- Company Registration Number
- Have been forced to close or have experienced a drop in turnover of >80% as a result of the firebreak lockdown
- Have 49 or fewer employees
- The business must be your main source of income
- Aim to maintain employment for 12 months
- Not be eligible for the Lockdown Non-Domestic Rate grant
If you meet thes criteria you will be eligible to apply for a discretionary grant of £1,500.
If you were subject to local restrictions for three weeks or more up to the 23 October and experienced at least a 50% reduction in turnover for that period, you can apply for £2,000 instead.
The grant will be open to applications from 28 October and will close on 20 November 2020 or when the fund is fully committed.
Find out how to apply 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.