Business Flood Relief Grant
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
Latest round of Economic Resilience Fund Sector Specific grants now closed
Extension to the Restriction Business Fund NDR Grant
31/3/21, 17.00hrs: Applications to this grant are now closed. Should another round of funding be announced we will update this information.
On 12th March 2021 the First Minister announced a further extension in grant funding for businesses. This extension will apply to businesses that are rated for Business Rates in Monmouthshire and who operate in the hospitality, leisure, tourism and non-essential retail sectors.
Grants available are:
A £4,000 cash grant payment for hospitality, tourism and related supply chain businesses including some retail businesses with Small Business Rate Relief (SBRR) qualifying hereditaments with a rateable value of £12,000 or less.
A £5,000 cash grant payment for hospitality, tourism and related supply chain businesses including some retail businesses occupying hereditaments with a rateable value between £12,001 and £500,000.
If you have previously received a grant payment under the Restrictions Business Fund, which was introduced in December 2020, then you are eligible for an automatic payment. These payments have now been made and eligible businesses will have received an email confirming payment.
Applications are now open for any businesses who have not previously applied for the Restrictions Business Fund NDR Grant. To be eligible for this grant your business must:
- be operating in the sectors noted above
- have a rateable value of up to £500,000
- have either been forced to close or if open seen a 40% reduction in turnover (January 2021 and February 2021 as compared to January 2020 and February 2020)
- in occupation of the qualifying hereditament on 1st March 2021
- have been actively trading and generating sales revenue up to 6pm on 4th December 2020
- not received an automatic payment
- not received a Discretionary Restrictions Grant
For businesses that do not have a rateable value, applications can still be made to the Restrictions Business Fund Discretionary Grant (see below)
Restrictions Business Fund Discretionary Grant
31/3/21, 17.00hrs: Applications to The Restrictions Business Fund Discretionary Grant are now closed. Should another round of funding be announced we will update this information.
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.
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).
Business 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.