Business Flood Relief Grant – up to £2,500 available to businesses affected by flooding due to Storm Christoph and/or Storm Bella. For more information visit the Business Wales website. Scheme closes 31/3/21 or before if all funds are fully allocated.
Update on Financial Support for Businesses
On 29th January 2021 the First Minister announced an extension of the current Restrictions Business Fund Non Domestic (NDR) Grant to the end of March 2021. Businesses that previously received this grant in either December 2020 or January 2021 are eligible to receive a top up payment of either £3,000 or £5,000, there is no need to re apply. Payments will be made shortly and should be in bank accounts week commencing 15th February 2021.
Businesses who have yet to apply for this grant can still do so by completing our online form – Restrictions Business Fund NDR application form. You can also check to see if you are eligible by reading the guidance – Restrictions Business Fund NDR Guidance
Previously, this scheme was available to retail, hospitality, leisure and tourism businesses with a rateable value of up to £150,000. However the extension of the scheme also now provides a new grant of £5,000 for retail, hospitality, leisure and tourism businesses with a rateable value of between £150,000 and £500,000. You can apply for this grant using our online form – Restrictions Business Fund NDR application form
For businesses who are not registered for Business Rates in the County, support is available through the Restrictions Business Fund Discretionary Grant. This grant is to support small businesses and sole traders that have been directly impacted by the extended restrictions. If you previously received a grant under the Discretionary Fund in December 2020 and January 2021 you will need to make a new application for this extended scheme, as no automatic payments will be made.
Businesses are allowed one application and the fund will run until such time as it is fully committed.
Applications for the Discretionary Grant are currently closed. We shall reopen for applications if funds are not fully committed.
Additional support for Freelancers was also announced on 11th February 2021. This new round of support, from the Cultural Recovery Fund, is available to Freelancers who previously received a grant under the Freelancer Grant scheme. An additional payment of £2,500 will be available. (Please note if you have since received a grant under the Discretionary Grant scheme then you are ineligible for this additional payment).
If you previously received a grant under the Freelancer Grant Scheme you will shortly receive an email from us asking you to confirm if there have been any changes in your circumstances. These additional payments will only be made on receipt of this information. Unfortunately this grant is not open to new applications, however anyone who missed out on the original funding can apply for the latest Discretionary Grant (details of which are above).
Businesses livestream about the latest grants
Monmouthshire County Council encouraged businesses who may be unsure of what funding they could be eligible for, and which grants are available for their sector to register for a free hour-long Business Forum event on Thursday 28th January. There were two sessions available to choose from, at either end of the business day: 8.30am and 5.30pm.
Thank you to those who were able to join us for the Business Support Livestream event. If you were unable to join the session, you can watch the recording of it by clicking on the link below.
Watch the 8.30am session here
Watch the 5.30pm session here
UK & Welsh Government Support for Businesses
UK Government has launched a ‘support finder’ tool which will help businesses and self-employed people across the UK to determine what financial support is available to them during the COVID-19 pandemic.
The tool asks business owners to complete a simple online questionnaire, which will direct them to a list of the financial support they may be eligible for.
The new business support finder tool can be found at https://www.gov.uk/business-coronavirus-support-finder.
Information regarding the range of support available from Welsh Government is available on the Business Wales Coronavirus advice page. This can be accessed here: Business Wales
UK Government Bounce Back Loans
Small businesses will benefit from a new fast-track loan scheme, which will launch on Monday 4th May.
The new Bounce Back Loans scheme will enable businesses to borrow between £2,000 and £50,000 and access the cash within days.
Loans will be interest free for the first 12 months and businesses can apply online through a short and simple form.
Further information about the scheme is available here
Applications are open until 31st March 2021 and you can apply here
Other Support Available:
Support from Local Business Networks
Monmouthshire County Council works closely with the county’s local business representatives all of whom would be happy to help with any individual business queries you may have. Below are a list of contacts and the areas that they represent:
- Abergavenny Y Fenni Business Community – Lucy Hywel – email@example.com
- Caldicot Town Team – Aaron Reekes – firstname.lastname@example.org
- Chepstow Chamber of Commerce – Dr Sue Kingdom – email@example.com
- Monmouth Chamber of Commerce – Sher McCabe-Finlayson – firstname.lastname@example.org
HMRC Tax Help-line
If as an employer you are having difficulties with your business tax, please visit the link below for guidance issued by UK Government.