NEW: Start Up Grant for Businesses available now
This is a grant to provide financial assistance for newly created businesses that are facing operational and financial challenges as a result of the COVID-19 outbreak.
The purpose of the grant is to support newly created businesses with immediate cash flow support to help them survive the economic consequences of the Covid-19 outbreak. The grant seeks to complement other Covid-19 response measures to support businesses, social enterprises and charitable organisations in Wales.
The Start Up Grant is open to applications from the 29th June 2020 until the fund is fully committed. 122 grants are available in Powys and applications will be dealt with on a first come first served basis. Please note that this may lead to applications not being appraised after they have been submitted if the fund is fully committed.
The eligibility criteria for the grant is as follows:
- Started trading between 1st April 2019 and 1st March 2020
- Forecast annual turnover less than £50,000
- Not in receipt of Self Employment Income Support, Non Domestic Rate Grant, Economic Resilience Fund or the Coronavirus Job Retention Scheme
- Businesses must be operating in Wales
- Businesses must have one or more of the following:
- HMRC Unique Taxpayer Reference (UTR) Number
- VAT Registration Number or a VAT exemption certificate
- Written correspondence confirming registration with HMRC
- Have experienced a drop in turnover greater than >50% as a result of the Covid-19 outbreak between April and June 2020
- Supported businesses must aim to maintain employment for 12 months