Coronavirus: Wales launches £2,500 grant for start-ups
© Tim Scrivener New rural businesses in Wales suffering cashflow problems because of the impact of coronavirus may be eligible for £2,500 in grant support.
The Welsh government has announced a new start-up grant for people who established their businesses between 1 April 2019 and 1 March 2020, who fall outside the UK government’s Self Employment Income Support Scheme (SEISS) and other financial assistance schemes.
A fund of £5m has been established to pay for the scheme, although this could be extended in future.
See also: Self-employed and furlough schemes extended
The scheme opened for applications on 29 June and will be administered by local authorities.
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 1 April 2019 and 1 March 2020 and not have qualified for the SEISS
- have less than £50,000 turnover
- have experienced a drop in turnover of more than 50% between April and June 2020.
Applicants will need to submit a two-page application form and self-declaration, supported by evidence to make a claim.