Funding: Start Up Grant
The First Minister, Mark Drakeford has announced a start-up grant to support new businesses dealing with the impact of coronavirus. The new start-up grant will support businesses that fall outside the UK Government’s Self Employment Income Support Scheme, with £2,500 each.
To be eligible for the start-up grant, businesses must:
- have not received funding from the Welsh Government’s Economic Resilience Fund or the non-domestic rates grant
- have been set up between the 1 April 2019 and 1 March 2020 and have not qualified for the UK Government’s Self Employment Income Support Scheme
- have less than £50,000 turnover
- have experienced a drop in turnover of more than 50 percent between April and June 2020.
Applicants will need to submit a two-page application form and self-declaration supported by evidence. The grant will be administered by local authorities and businesses can check their eligibility by visiting the Business Wales website.