The Scheme has been extended until the end June 2020 to reflect continuing social distancing measures and will continue to be reviewed and extended if considered necessary.
The Government have updated the requirements with regards CBILS to make lending simpler and introduced the Bounce Back Loan Scheme.
Use this tool to check your eligibility for the COVID-19 Economic Resilience Fund that is available to businesses and organisations in Wales and other support.
This morning’s latest script which includes updated links in relation to the Job Retention Scheme and the latest announcement on pausing the second phase of the Economic Resilience Fund. Also updated details of the Welsh Government’s regulations and requirements in relation to businesses and premises that must remain closed.
Claim for 80% of your employee’s wages plus any employer National Insurance and pension contributions, if you have put them on furlough because of coronavirus (COVID-19).
This scheme will issue convertible loans between £125,000 to £5 million to innovative companies which are facing financing difficulties due to the coronavirus outbreak.
The Government has been warned that a 'generation' of innovative firms will be lost to the coronavirus crisis without intervention.
The impact of the COVID-19 crisis has been devastating and far reaching, and we are working with colleagues across the industry to support those who have been hardest hit, and ensuring that we thrive as we recover.
Coadec have provided new guidance on the Coronavirus Job Retention Scheme and important changes to the scheme since it was announced. Previously employers could only claim for furloughed employees that were employed and on their PAYE payroll on or before 28th February. This cut off date has now been extended to 19th March, so more of your employees are now eligible for furloughing.
Use this tool to check your eligibility for the Covid-19 Economic Resilience Fund that is available to businesses and organisations in Wales and other support. The Covid-19 Economic Resilience Fund is a grant to provide financial assistance for eligible businesses and organisations who are facing operational and financial challenges as a result of the COVID-19 outbreak.
There has now been further update on the Coronavirus Job Retention Scheme and how the portal works. Click the Resource button to Download the attachment provided by EST.
Federation of Small Businesses have released their weekly newsletter with a roundup of what's going on in your local area. Click to see their updates for local news across Wales.
In addition to the business rate relief scheme, the Welsh Government has announced that an additional £850m will be made available through a new grant scheme for businesses. This will mean that all businesses, which are currently eligible for Small Business Rates relief, that is those with a rateable value up to £12,000, will receive a grant of £10,000. If you believe you are an eligible business complete the application form and follow the processes outlined.
An updated overview of support measures introduced by Welsh Government in response to the Coronavirus outbreak, to help businesses and workers across Wales.
The Chancellor Rishi Sunak has announced the Government is taking further action to support firms affected by the coronavirus crisis by bolstering business interruption loans for small businesses and announcing a new scheme for larger companies.
The Coronavirus Business Interruption Loan Scheme supports small and medium-sized businesses, with an annual turnover of up to £45m, to access loans, overdrafts, invoice finance and asset finance of up to £5 million for up to six years.
More than £18m will support the creative industries, culture and sport sectors, which are feeling the immediate impact of COVID-19.
In this webinar Sifted, in partnership with Dealroom, will be grilling a panel of investors from around Europe to get the inside story on startup funding during the Coronavirus crisis. The session will go live on Friday 3rd April 2020 12:00 BST.
Tech Nation are hosting a webinar for aimed at founders and CFOs who want to know more about the COVID-19 Government support. Tune in at Thursday 2nd April 2020 at 15:00 BST to join.
British Business Bank have given a briefing outlining the Coronavirus Business Interruption Loan Scheme outlining the key elements of the scheme and clarifying eligibility requirements. Click the button for a direct download of the presentation.
The Welsh Government and the Development Bank of Wales have announced the £100m Covid-19 Wales Business Loan Scheme to support businesses affected by the Covid-19 outbreak.
The Welsh Government has recently announced a £1.4 billion support package for businesses in Wales to help combat the economic impact of Coronavirus (COVID-19). All retail, leisure and hospitality businesses with a rateable value of £500,000 or less will receive 100% non-domestic rates relief for 2020-21. This will be administered automatically through the Council’s Rate Scheme and will apply automatically.
The Economic Resilience Fund aims to plug the gaps in the support schemes already announced by the UK Government, including the Job Retention Scheme and the Self-Employed Income Support Scheme, which will guarantee 80% of people’s wages and income. The new £500 million Welsh fund will support firms of all sizes, including social enterprises, with a focus on those which have not already benefited from the coronavirus grants already announced by Welsh Government.
Dr David Nabarro is a Special Envoy of the World Health Organization (WHO) Director-General on COVID-19, Co-Director of the Imperial College Institute of Global Health Innovation at the Imperial College London and Strategic Director of 4SD.
Latest overview of Welsh Government support schemes updated to reflect the recent announcement of the new economic Resilience Fund.