The latest phase of the Welsh Government’s Economic Resilience Fund has benefited from the release of a further £100million from ministers within 72 hours of launch, due to a massive demand.
More than 6,000 grant applications from small and medium sized businesses and social enterprises were received within 24 hours of the launch on Friday – an unprecedented response, revealing the scale of the challenges facing Welsh businesses.
The Fund aims to complement and fill the gaps left by UK Government schemes such as the Job Retention Scheme, with grants of up to £10,000 for micro-enterprises and up to £100,000 for SMEs and a light touch appraisal system designed to get money to businesses with the minimum of delay – as well as a new loan fund administered by the Development Bank of Wales.
Less than three weeks since the First Minister announced the intention to create the Fund, the Welsh Government has released a further £100 million, taking the grant fund to £300 million. This will supplement this latest phase of support, providing non-repayable grants to microbusinesses, SMEs and those large businesses of critical, social or economic importance to Wales.
The Fund has been warmly received by trade union and business organisations, with the Institute of Directors calling it ‘very welcome news for business owners and managers who are desperate for all the help they can get at this difficult time’. The South and Mid Wales Chambers of Commerce has called ‘the rapid response to date’ of the Welsh Government in supporting the economy of Wales ‘impressive’. The Wales TUC welcomed ‘additional funding to address the gaps’.
Minister for Economy, Transport and North Wales Ken Skates said: “We knew that even with the help offered by initiative such as the Job Retention Scheme, there was a massive need for quick access to grant funding if Welsh businesses were to survive this unprecedented economic shock. Whilst in order to make the scheme quick and simple we needed to take tough decisions over eligibility – like requiring businesses to be registered for VAT as a way of having to check on their trading history – it is clear from the level of response received that the Economic Resilience Fund is plugging a gap in UK Government support and providing much needed financial reassurance to many businesses at this challenging time. We will continue to review support and consider how we can develop it over the coming days.
“The rate of applications has been massive and unprecedented. This is the second time in a matter of weeks that access to Welsh Government funds aimed at easing cash flow pressures for Welsh business have quickly reached capacity, and we have responded with pace to release a further £100m into this phase of the fund.
“In these difficult and demanding economic times we have worked hard to free up resources to create such a large Fund despite the huge demands on our budget, and to strike a balance between supporting as many enterprises as possible and making a meaningful contribution to each one’s survival, as well as asking each recipient to sign up to the principles of the economic contract.
“Though we applaud much of what the UK Government has done, there is an urgent need to see more of the promised lending guaranteed by the UK Government getting to the front line. The UK Government must continue to support and press the high street banks to be much more responsive to the needs of our businesses at this difficult time.”
Finance Minister Rebecca Evans said: “The Economic Resilience Fund is part of more than £2bn of support that we have made available to help businesses and charities during these incredibly difficult times.
“We know that support for business is crucially important but whilst we are doing everything we can in Wales to plug any gaps and provide the best possible financial support to businesses, it is clear there are further steps that the UK Government needs to urgently take.”
The Economic Resilience offers financial support to help businesses, charities and social enterprises deal with the coronavirus crisis and will be vital in helping organisations manage cash flow pressures. It is a unique additional funding stream for Wales and was designed to address gaps not currently met by schemes already announced by the UK Government, Welsh Government and Development Bank of Wales.
The first stage of the Fund saw the £100 million Development Bank of Wales’ loan scheme fully subscribed in little more than a week. Applications are currently being processed and some businesses have already received funding. It is anticipated that the Development Bank will have processed all applications received within the month.
To ensure that money reaches businesses as quickly as possible more than 120 additional Welsh Government and Business Wales staff have been diverted onto processing applications and supporting businesses and organisations in this latest stage of the Fund.
Pupils at Ysgol Gyfun Aberaeron asked to self-isolate as COVID-19 case confirmed
A NUMBER of pupils at Ysgol Gyfun Aberaeron have been asked to self-isolate for 10 days following the confirmation of a COVID-19 case at the school.
All confirmed contacts of the positive case must remain at home for 10 days to reduce the possible spread of the virus to family, friends and the wider community. The pupils will be taught remotely for this period. The parents of all these pupils have been contacted by the School.
The Council urges all parents to refer their children for a test if they develop any of the symptoms, which are:
- a high temperature
- a new continuous cough
- a loss or change to sense of smell or taste.
Parents should also be aware of other symptoms early on, such as headaches, tiredness and general aches and pains usually associated with the flu.
Although the level of cases is low, coronavirus has not gone away. Please follow the guidelines:
- Keep a 2m social distance from each other when out and about – indoors and outdoors;
- Wash your hands regularly;
- Wear a face mask in indoor public places, shops and on public transport.
You can apply for a test on https://gov.wales/apply-coronavirus-covid-19-test or by phoning 119.
No further details will be provided regarding this matter.
Update for Multi-purpose Community Centres following First Minister announcement
TODAY, First Minister Mark Drakeford announced that multi-purpose community centres including community centres, village halls, church halls and other community facilities can reopen from 03 May. This decision has been brought forward from 17 May.
Welsh Government announced changes during today’s briefing, and the guidance for multi-purpose community venues is being updated to ensure compliance with developments in regulations, including greater emphasis on ventilation. Welsh Government continue to advise authorities that the regulations on social gathering will still prevent a number of activities from taking place at community venues, and only organised activities for up to 15 people will be permitted.
The panel strongly advise you to make every effort to carry out your activity digitally or make contact by phone. If not, consider whether it is possible to hold your activity outdoors, in-line with Welsh Government guidance. Holding your activity indoors should be considered as a last resort. If this is the only option and it’s essential that you meet then please keep the session brief and involve as few people as possible, with all necessary procedures and protocols in place.
Those responsible for community activities should remember to;
- maintain a social distance of 2 meters.
- wear a face covering in indoor public spaces.
- regularly wash your hands for 20 seconds or use hand sanitizer provided.
A multi-agency panel has been set up to advise and support around the safe and proportionate reopening of facilities in-line with national guidance. The panel has been created under Ceredigion’s Public Services Board Sub Group; Understanding our Communities. Leading on the development of the group is Ceredigion Association of Voluntary Organisations (CAVO) and Ceredigion County Council in partnership with Heddlu Dyfed Powys Police and Mid and West Wales Fire and Rescue Service. The panel includes representation from Health & Safety, Environmental Health and Community Safety.
The panel encourages anyone responsible for community facilities to seek advice to ensure that arrangements are safe and secure and that compliance is in-line with national guidance. Prior to re-opening any community facility those managing centres must ensure that they are ‘Covid-Free Zones’.
The panel will aim to host another briefing session on April 28 at 13:30 to support those in charge of community venues with the latest developments. If you would like to join the next briefing session, please register here: https://www.eventbrite.co.uk/e/cyfleusterau-cymunedol-ceredigion-community-facilities-information-session-tickets-152071456821?aff=ebdssbonlinesearch or get in touch via the contact details below.
The multi-agency panel will continue to support and advise Community Groups and Organisations, and questions or information requests can be submitted to the group which meets on a weekly basis via CAVO on email@example.com or by phone on 01570 423232.
Together, we can keep Ceredigion safe.
First Minister to set out first steps out of lockdown
THE WELSH GOVERNMENT will lift the “stay at home” requirement in Wales from tomorrow, and replace it with “stay local”, as part of a careful, cautious and phased approach to relaxing coronavirus restrictions, First Minister Mark Drakeford will announce today (Friday, Mar 12).
From tomorrow (Saturday, Mar 13), four people from two households will be able to meet outdoors to socialise, including in gardens. In addition, outdoor sports facilities, including basketball courts, tennis courts and golf courses, can reopen, and indoor care home visits will restart, for single designated visitors.
From Monday, all primary pupils and those in qualifications years will return. Schools will have the flexibility to bring year 10 and 12 learners back and more learners will return to colleges.
There will also be flexibility for in-school check-ins for all other pupils. All learners will return after the Easter break.
Hairdressers and barbers will re-open for appointments from Monday.
From 22 March non-essential retail will start re-opening gradually as the restrictions are lifted on what can be sold in shops which are currently open. Garden centres will also be able to open. All shops, including all close contact services, will be able to open from 12 April – the same date as in England.
The First Minister will say: “We are taking a phased approach to unlocking each sector – starting with schools. We will make step-by-step changes each week to gradually restore freedoms. We will monitor each change we make, so we know what impact each change has had on Wales’ public health situation.”
The First Minister will also announce an additional £150m to support businesses affected by ongoing restrictions.
Popular This Week
News1 week ago
Tregaron man charged with rape following large scale search for suspect
News2 weeks ago
New Quay youngster answers RNLI’s mayday call and raises nearly £2,000
News4 days ago
‘Victims will be at heart of the organisation’ says re-elected’ – Dafydd Llywelyn
News2 weeks ago
Amendments introduced to the Cardigan Safe Zone
News6 days ago
Plaid’s Dafydd Llywelyn re-elected as Police and Crime Commissioner
News1 week ago
Mark Drakeford says: ‘Thank you Wales for going red’
News2 days ago
New international travel rules for Wales confirmed by First Minister
News3 days ago
Date for re-opening leisure facilities brought forward