The Welsh Government have announced an additional £80m funding for businesses affected by COVID-19, with £20m ringenced for the troubled hospitality and tourism sector.
Unlike Phases 1 and 2 of the Economic Resilience Fund, Phase 3 will help businesses to fund specific projects that permit them to weather or otherwise trade out of the pandemic. Grants of up to £10,000 for micro-businesses (up to 9 employees) and £150,000 for SMEs (10 to 250 employees) are available, albeit with requirements that the recipient match a small portion of the funding with their own reserves, additional debt or third-party support.
Importantly, those in receipt of a grant from Phase 1 or Phase 2 are also eligible for Phase 3.
Applications open week commencing 26 October 2020. You can check your eligibility for funding here.
