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Financial support for social enterprises in Wales impacted by Omicron

Welsh Government has announced financial support available to social businesses that are experiencing issues due to Covid-19 restrictions.

By Rhodri McDonagh · 5 January 2022

See this page in: Cymraeg

Financial support for retail, hospitality, leisure and tourism businesses

The Economy Minister, Vaughan Gething, has announced the details of the £120m funding which will be available for hospitality, leisure, tourism and retail businesses (including non-essential retail) and their supply chains affected by the move to alert level 2, as announced by the First Minister on Wednesday 22 December.

Under the latest package, retail, hospitality, leisure and tourism businesses who pay Non-Domestic Rates will be entitled to a payment of £2,000, £4,000 or £6,000 depending on their rateable value. Businesses will need to re-register their details, through a quick and easy online process, with their local authority in order to receive their payments.

Registration will open via local authority websites from the week commencing 10 January 2022.

Economic Resilience Fund – new round of funding announced

In addition, impacted hospitality and leisure businesses and their supply chains will be able to apply for top up funding from a new Economic Resilience Fund (ERF). Eligible businesses can apply for grants of between £2,500k – £25,000, with grants dependent on their size and number of employees. As with previous ERF rounds, this will support businesses who have seen a reduction in their turnover of more than 60%.

The application window for ERF will open in week commencing 17 January 2022 with payments starting to reach businesses within days. An eligibility checker will be available on the Business Wales website at the beginning of January for businesses to check their eligibility. 

Support from Social Business Wales

Social Business Wales will be closing at noon on 24 December 2021, but its team of expert advisors will be on hand from Tuesday 4 January to provide help with enquiries about cash flow, HR, digital platforms, marketing and communications and a range of other areas that might need re-thinking in light of Omicron.

They can provide advice via telephone or through video conferencing, you can contact them by telephone on 0300 111 5050 or email sbwenquiries@wales.coop if you need support.