Coronavirus: Advice for Business

This page is updated regularly with the latest information on Coronavirus support available to businesses - 28th May 2020

 

Latest News

 

The Welsh Government has announced an extension for ratepayers eligible for charity relief and Community Amateur Sport Clubs (CASC) relief operating in the retail, leisure and hopsitality sector occupying properties with a rateable value of £12,000 or less.  You may be eligible for a government grant.  To apply you will need to email businessgrants@valeofglamorgan.gov.uk to request a Coronavirus Business Grant Application - Charities Form.   Eligibility Flowchart

Grants for Businesses in Wales linked to non-domestic rates

 

Economy minister, Ken Skates announced Phase 2 of the Economic Resilience Fund will open next month - with non-VAT firms able to apply. The eligibility checker for new applications should be available by the middle of June, allowing companies time to prepare their applications and expects full applications later in the month. This will enable access to the remaining £100m of the £300m already approved and allocated to support micro businesses, small and medium enterprises and large businesses.

 

Job Retention Scheme

The government's Coronavirus Job Retention Scheme will remain open until the end of October

Chancellor extends Furlough Scheme until October

 

Self-Employment Income Support Scheme (SEISS) - check if you are eligible

From Monday, 4th May HM Revenue and Customs (HMRC) began contacting customers who may be eligible for the government's Self-Employment Income Support Scheme (SEISS).  Those who are eligible will be able to claim a taxable grant growth 80% of their average trading profits up to a maximum of £7,500 (equivalent to 3 three months' profits), paid in a single instalment.

 

£40m boost for cutting edge start-ups

On the 20 May 2020 UK government announced it is doubling investment in the Fast Start Competition with an additional £20 million. Innovative businesses and start-ups are set to benefit from a £40 million UK government investment to drive forward new technological advances. Among the successful projects to receive the funding to date is a virtual-reality surgical training simulator and an online farmers’ market platform.

 

Culture Resilience Fund Support for the culture sector

The fund includes support for freelance artists and creative practitioners, with

next round for applications open from Friday 29 May until Monday 15 June 2020.

 

Support for welsh food and drink manufacturers  

Food Innovation Wales, backed by Welsh Government, is based at three food centres across Wales. The team of industry experts can support manufacturers of all sizes to navigate their way through a range of complex technical and commercial issues.

To use the Food Innovation Wales COVID-19 tool kit, visit:

www.foodinnovation.wales/toolkit

 

Future Fund - open for applications from 20th May

The new Future Fund will support innovative UK companies with good potential that are essential in ensuring the UK retains its world leading position in science, innovation and technology. These companies typically rely on equity investment and are currently affected by Covid-19.

 

For more information on the Future Fund eligibility criteria and applications process: 

Future Fund 

   

Bounce Back Loans Scheme

Major boost for Welsh SME's as New Bounce Back Loans Scheme opened for applications.

 

   

 

New Support Finder Tool

The UK Government have launched a new 'support finder' tool to help businesses and self-employed people across the UK to quickly and easily determine what financial support is available during the COVID-19 pandemic.  The finder tool asks business owners to fill out an online questionnaire, which can take minutes to complete, and directs you to a list of all the financial support you may be eligible for.

 

New Business Support Finder Tool

 

Economic Resilience Fund 

The Welsh Government launched the Economic Resilience Fund. 

 

THE ECONOMIC RESILIENCE FUND HAS BEEN PAUSED [28th April 2020]

 

Support for Employees and Self-employed 

       

Business Grants - Eligibility and application form below.  

 

Access to Finance

Coronavirus Business Interruption Loan Scheme (CBILS) CBILS has been significantly expanded along with changes to the scheme's features and eligibility criteria.  The changes mean even more smaller businesses across the UK impacted by the coronavirus crisis can access the funding they need.

Development Bank of Wales: www.developmentbank.wales/coronavirus-support-welsh-businesses

 

Coronavirus Job Retention Scheme - latest news

Important to note that the HMRC portal to process the Coronavirus Job Retention Scheme (CJRS) will have the capacity to handle 450,000 claims an hour. 

 

Once claims have been submitted, payment for furloughed workers can be expected within 4 to 6 working days. 

 

Most importantly, companies will be able to claim furlough payments 14 days in advance of an employer's payroll run, thereby easing immediate cash flow pressures.  

 

We will keep this page updated with the latest information as these schemes are developed and made available.  Please see more authoritative sites and links below:

  

Follow us @ValeEconomy for the latest information.

 

IMPORTANT UPDATE FOR THOSE WAITING FOR THEIR GRANTS OR WHO HAVE NOT YET APPLIED [20th May 2020]

  

Many businesses in the Vale of Glamorgan have already been paid their business grants.

1,835 grants have been paid out totalling £23,148,000.

 

However, where details may not match those on the NNDR system, the Council is requesting some further information in order to pay the grants to eligible businesses.  The Council will contact businesses that need to submit additional information. 

 

You do not need to do anything if you have already applied.

 

Find out more

Coronavirus Grants for Vale of Glamorgan Businesses

Launched on 25 March 2020 - The scheme will now close on 30 June and therefore if an application has not been received by this date then the grant cannot be paid.

 

Welsh Government have announced that they will support businesses with a grant of £10,000 or £25,000 depending on the rateable value of the business. The flowchart provides information on whether a business is entitled to a grant or not. Please note this grant only applies if you are in a rateable business premise for which you hold the responsibility for rates.

 

As of 20th April 2020, in relation to self-catering accommodation, properties will not be eligible for a grant unless the following criteria are met details here.

 

All business grant applications now include questions regarding State Aid, further information on State Aid can be found below. 

 

 

Before you make an application for a Business Grant, please ensure that you have a copy of your bank statement ready to upload.

 

PLEASE DO NOT APPLY BEFORE YOU HAVE THIS OR THIS MAY SLOW DOWN YOUR APPLICATION.

 

  • Please note that grant awards are limited to 2 per business per local authority area.  If you have more than one business in the Vale of Glamorgan you will be required to complete a separate form per separate business unit. 

The application form for this grant is now available.  The easiest and most efficient way to apply for a grant is online.  

 

Online applications will also result in the grant payment being paid direct into your bank account sooner.  If you have any issues completing this electronically please email:

 

In order to ensure that the Council has all the necessary information to enable the administration of the grants quickly and accurately, all businesses are being asked to complete the application form and to provide the following supporting evidence:

 

  • A copy of your current bank statement showing the bank account name, sort code and account number. This will ensure any grant can be paid via BACs straight into your bank account.

This process relates specifically to the Coronavirus Grants, Business Rates relief information will be sent in due course.

 

If you wish to make enquiries on your application form further, due to the unprecedented amount of phone calls that are currently being received it is therefore recommended that you contact the Council by e-mail to businessgrants@valeofglamorgan.gov.uk and a response will be issued as soon as possible.   We are currently experiencing high volumes of business grants applications and e-mails consequently responding to your enquiry may take longer than normal.

 

In this unprecedented economic crisis, the Vale of Glamorgan Council will be keeping businesses updated with the latest information on Coronavirus via this Business Support web page. This will be updated on a regular basis.

 

 

Vale of Glamorgan Business Support

In this unprecedented economic crisis, the Vale of Glamorgan Council will be keeping businesses updated with the latest information on Coronavirus via this Coronavirus Business Support web page. It will be updated on a regular basis, if you would like to register your interest in receiving email updates regarding business support please enter your details:

 

  

 

Please follow us on @ValeEconomy for the latest updates.

 

 

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