Coronavirus: Advice for Business

This page is updated regularly with the latest information on Coronavirus support available to businesses - 29th July 2020

 

Latest News

The Welsh Government pledges to support everyone to find work, education or training or help to start their own business as it launches a £40m skills and jobs fund.

The £40m package will provide:

  • more than £20m to incentivise employers to recruit and retain 5,000 apprentices, increase the capacity of traineeship programmes and support more graduates to access work experience, work tasters and paid work placements.
  • almost £9m to help workers access retraining and find new employment, including in areas of skills demand, through ReACT and the Union Learning Fund. This includes the national roll-out of the personal learning accounts programme so an additional 2,000 people can learn new skills and gain new qualifications.
  • funding for traineeships, Working Wales and Communities for Work Plus will be increased to help match people to job opportunities and promote self-employment and new ways of working, as well as funding to support employer-led training through the Flexible Skills programme.
  • there will be support for a new Barriers Fund, offering up to £2,000 to support people who may not have previously considered self-employment, in particular women, young people, people from BAME communities and disabled people. Fine out more.

Important timetable for businesses

Announced on 10th July from Welsh Government the opening of specific business sectors.

Welsh Government announce the week by week approach. 

  

Economic Resilience Fund Phase 2 including the Start Up Grant

The Economic Resilience Fund has now closed, however businesses can still apply for the Start Up Grant. To review your eligibility for the Start Up Grant and to apply: 

Eligibility Checker

 

Self Employed Income Support Scheme

The scheme has been extended.  If you were eligible for the first grant and can confirm to HMRC that your business has been adversely affected on or after 14th July 2020, you will be able to make a claim for a second and final grant from 17th August 2020. 

 

The scheme allows you to claim a second and final taxable grant worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months worth of profits and capped at £6,570 in total. 

 

As with the first grant HMRC will contact you if you are eligible. 

Eligibility check for SEISS.

 

Business Grants

Up to date figures for the Business Grants in the Vale of Glamorgan. In line with Welsh Government guidance the business support scheme for eligible rateable properties has now closed. 

The latest total of 2,056 grant payments have been made worth a total of £25,652,000.

 

Cultural Art and Heritage 

U.K Government announce a £1.57 billion investment support package to protect Britain’s world-class cultural, arts and heritage institutions. £157 billion investment to UK world class cultural art and heritage institutions

 

Town Centre Businesses and Premises

On Friday, 19th June 2020 the Welsh Government announced that non-essential retail businesses and premises can re-open in Wales, from Monday 22nd June 2020.  

 

For advice and information on working in or running shops during the COVID-19 pandemic, please email Shared Regulatory Services: businessadvice-srswales@valeofglamorgan.gov.uk

 

The latest 'Keep Wales Safe - Retail Guidance' from Welsh Government can be found here: 

Retailers Coronavirus Guidance

 

In line with current social distancing guidance, further information will follow shortly on temporary changes to public spaces in the following shopping areas: Holton Road, Barry; High Street, Barry; Windsor Road/Glebe Street/Ludlow Lane, Penarth; High Street, Cowbridge; Boverton Road, Llantwit Major 

 

Job Retention Scheme

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

Chancellor extends Furlough Scheme until October

 

£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

  

Support for Employees and Self-employed 

       

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 @ValeEconomy for the latest information.

 

Coronavirus Grants for Vale of Glamorgan Businesses

 

In line with Welsh Government guidance the business support scheme for eligible rateable properties has now closed.  

 

As of 13th July the number of businesses in the Vale of Glamorgan that have been paid their business grants stands at 2,050 grants totalling £25,592,000.

 

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:

 

  

 

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