Economic Resilience Fund (ERF) £180m Sector Specific Fund for Hospitality, Tourism and Leisure sector is now open to applicants – from midday 13 January.
The new ERF Sector Specific Support package, targeted at Hospitality, Tourism and Leisure (HTL) businesses and associated supply chain businesses during the economic restrictions of Covid-19, opened its doors to applicants today. Applications can be submitted over the next two weeks, or until funds have been fully committed.
This ERF sector specific fund applies to those in HTL that will be materially impacted by a greater than 60% impact of turnover, as a result of the restrictions, and seeks to compliment other COVID-19 response measures to support businesses, social enterprises and charitable organisations in Wales.
The fund is aimed at supporting operating costs (excluding staff) through the restriction period. Key aims are to support business survival and safeguard jobs. As a condition of funding, you will be expected to safeguard jobs for a minimum of 12 months. For eligible businesses, the package of support will provide grant awards as follows:
- single employee business: minimum grant of £2,500
- SMEs (up to 249 employees): £1,500 per employee up to a maximum of 10
employees, representing £15,000 or for those employing more than 10 – £1,500
per employee or self-declared operating costs for the restricted period
- upper limit of £100k for SMEs with a digital system-based application
- large businesses (250+ employees): £500 per employee or self-declared operating costs for the restricted period (whichever is the lower amount) for Welsh headquartered large business applicants to a maximum of £150,000, with a manual case by case application via the sector team
It is important to read the guidance and FAQ notes on the links below before applying for this fund.
Businesses employing 1-10 people:
Businesses employing 11-249 people:
After checking the guidance, you can apply for the grant via the online application form.