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£140 million to support Welsh businesses

First published:
29 September 2020
Last updated:
07 March 2024

 

The Welsh Government is making an additional £140 million available to businesses to help them deal with the economic challenges of Covid-19 and the UK’s impending exit from the EU.

The funding from the third phase of the Welsh Government’s Economic Resilience Fund (ERF) will see wider support being provided to secure jobs and help businesses develop, as well as additional help for firms affected by local lockdowns.

This new phase of the ERF will see £80 million being made available to support businesses with projects that can help them transition to the economy of tomorrow. It will require co-investment from companies and a clear plan about how they will adjust to the post-covid economy.

Of this, £20 million will be ring fenced to support tourism and hospitality businesses who are facing particular challenges as they enter the winter months.

Meanwhile an additional £60 million will be allocated to support businesses impacted by local lockdown restrictions.

Companies that received grant funding through phases one and two of the ERF, or Non-Domestic Rate linked support, could also be eligible for phase three of the ERF.

The Eligibility Checker for companies to find out if they can access funding from the third phase of the ERF will be live during week commencing 5 October 2020.

For further information please visit the GOV.Wales website


First published
29 September 2020
Last updated
07 March 2024
£140 million to support Welsh businesses

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