APPLICATIONS for the Restrictions Business Fund in the Vale of Glamorgan are now open.
The Welsh Government opened the Restrictions Business Fund to support businesses and sole traders directly impacted by the extended coronavirus restrictions announced by Mark Drakeford on January 29.
Applications for the discretionary £2,000 grant are open and will close at a date to be specified by Vale of Glamorgan council or when the fund has been fully committed.
How are applications dealt with?
Applications will be dealt with on a first come first served basis. This may lead to applications not being appraised after they have been submitted if the fund is fully committed.
Which businesses can apply?
- Businesses that have been forced to close due to the national restrictions.
- Businesses that estimate that the extended restrictions will result in at least a 40 per cent reduction in their turnover when compared to their restriction-free trading period prior to March 23, 2020.
- Business which started trading after March 23, 2020, will need to declare – and may be asked to demonstrate – a 40 per cent reduction in turnover for an equivalent trading period since they opened.
- Self-catering accommodation properties are eligible if they meet the criteria outlined below.
What is the criteria for self-catering accommodation applications?
- The self-catering accommodation business must be the primary source of income for the owner.
- The self-catering accommodation must produce two years of trading accounts directly preceding the current financial year of the business.
- The self-catering accommodation must have been let for 140 days or more in the financial year 2019-2020.
Who is the grant NOT eligible for?
- Anyone who is eligible, or who has received, the Restrictions Business Fund NDR Grant from their local authority.
- Anyone whose business generates less than 50 per cent of their income.
- Anyone who is eligible for a ‘top-up’ payment via the extended Freelancer Fund.
- Anyone who has been awarded a Welsh Government Children and Communities grant to cover operating losses between September 2020 and March 2021.
- Anyone whose total amount of coronavirus support grants – including any further award through this discretionary fund – exceeds 80 per cent of their turnover for a typical year of trading.
How long will applications take to process?
Applications for the Extension Discretionary Grant will be processed within 30 working days from date of receipt for applications that have been completed correctly with supporting information.
This time frame is set by Welsh Government for all local authorities in Wales.
How can I apply?
If you are a Vale of Glamorgan business you can apply via forms.valeofglamorgan.gov.uk/en/RestrictionsDiscretionaryGrant
Has your business been impacted by coronavirus?
Has Welsh Government funding helped your business or have you struggled to access funding? How has your business adapted to the pandemic?
If you wish to share your story with Penarth Times e-mail [email protected]