Letter to businesses from Ken Skates, Minister for Economy, Transport and North WalesUpdate
This week Ken Skates has published an open letter to Welsh business to highlight areas where business should consider as we get closer than 50 days before the end of EU transition. The letter includes informative and highlights issues along with signposting useful links and we would urge those who operate in Wales to review and access the content as required.
Economic Resilience Fund - Eligibility for support from the third phase
Businesses across Wales can now find out if they can apply for funding from the third phase of the Economic Resilience Fund (ERF).
The eligibility checker will enable businesses to see if they can access the £80 million tranche of the fund which will support firms 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.
The £80 million worth of business development grants will be open to micro businesses, SMEs and large businesses.
- Micro businesses (employing between 1 and 9 people) will be able to apply for up to £10,000 on the condition they match this with their own investment of at least 10 per cent.
- SMEs (employing between 10 and 249 people) will be able to apply for up to £150,000 on the condition they match this with their own investment of at least 10% for small business (1 to 49 staff) and 20% for medium sized (50 to 249) business.
- Large businesses (employing 250+ people) will be able to apply for up to £200,000 on the condition they match this with their own investment of at least 50%.