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LHP
Chartered Accountants

Covid-19 fund for start-ups

 

Economy Minister Ken Skates has confirmed the bursary scheme and says it could launch this month.

 

Many start-ups have fallen through the net and have missed out on Government funding to support them during the coronavirus outbreak, because of their date of creation.

 

Mr Skates has confirmed he has approved a scheme to offer support to this group of companies.

 

He said:

“I am pleased to be able to say we are going to be operating a start-up bursary for those businesses that really are in their infancy and weren’t able to attract UK Government support because they started after March 2019.

We are going to establish a start-up bursary for them.

I am hoping it will be able to operate in parallel with the ERF round two which goes live on June 29.

That is my aim – I have signed it off so I’m hoping if all of the processes can be put in place for the administration of that bursary in time we’ll be able to open that on the 29th as well.

“If, not it will be shortly afterwards.”

 

Details on the value of the fund and criteria required have not yet been released. We will post further updates as and when they are released.

 

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