skip to main content

The Welsh Economic Resilience Fund

The third round of funding from the Welsh Economic Resilience Fund opens for applications on the afternoon of Wednesday 28 October, members are urged to check the eligibility criteria and apply as soon as they are able.

Published: 28 October 2020 | 12:00 AM Updated: 28 April 2021 | 4:31 PM
Photograph of a saxophone lesson taking place, we see the teachers back but she is emphasising something with her hands. The student facing us is holding a saxophone and laughing.
The fund aims to provide financial assistance to businesses to help them survive the economic consequences of the restrictions put in place. Photo credit: Shutterstock

The Welsh government is extending its support for businesses in Wales with additional funds that will be open for application on Wednesday afternoon, 28 October 2020. We would urge members to check the guidance and apply as soon as possible, as funds will be allocated on a first come first served basis and is unlikely to last long.

Businesses across Wales can check their eligibility for the third phase of the Economic Resilience Fund via the Eligibility Checker on Business Wales’ website.

The Economic Resilience Fund is £80 million worth of business development grants open to micro businesses, small and medium-sized enterprises and large businesses. This fund would be of particular interest to members who are a registered company or charity, are VAT registered, have business premises and where employees are paid via PAYE.

There are a range of projects that the fund could help support and there are some investment examples that might be useful on the Business Wales’ website. It would be important to ensure that projects submitted for these grants could be delivered within the current financial year.

The third phase of the Economic Resilience Fund also includes a Lockdown Business Fund delivered by local authorities in Wales which may be of particular interest to members.

The Lockdown Business Fund aims to provide financial assistance to businesses to help them survive the economic consequences of the restrictions put in place.

Eligibility criteria for businesses

Businesses that meet the following criteria may be eligible:

  • Business was trading prior to 1 September 2020
  • Businesses must be operating in Wales
  • Businesses must have one or more of the following – a HMRC Unique Taxpayer Reference (UTR) Number, a VAT Registration Number or a VAT exemption certificate, a Company Registration Number
  • Have been forced to close or have experienced a drop in turnover of >80% as a result of the national lockdown in Wales
  • Employing 49 or less employees
  • The business must be your main source of income (>50%)
  • Supported businesses must aim to maintain employment for 12 months
  • Only one application per business
  • Businesses should be actively trading up to the date of national firebreak lockdown and may be required to provide evidence to demonstrate this
  • Businesses that are eligible for the Lockdown Non Domestic Rate Grant are not eligible for this discretionary grant.

Full guidance for the Enhanced Lockdown Discretionary Grant can be downloaded from the Business Wales website.

To help businesses locate the varied range of support available to them to get through this difficult period take a look at the COVID-19 Business Support Finder pages on the Business Wales’ website.

There is also the Welsh Government Discretionary Assistance Fund (DAF) that can provide help via its emergency assistance payments.

Get MU membership today

From gig players to part-time teachers and professional instrumentalists, MU members can access specialist insurance for musicians. This includes accident cover, health schemes, travel insurance and car insurance add-ons through the Musicians’ Union.

Explore our member services

  • Get public liability insurance for musicians
  • Access expert legal support
  • Be represented in your profession
  • Access expert career advice, resources, and training events
  • Connect, network, and get to know the community of musicians

Learn about all membership benefits

Get MU membership today

Continue reading

WNO musicians holding up placards to support the Protect WNO campaign.

MU Welcomes £3.6m Boost for Welsh Arts Sector

Welsh National Opera is set to get the largest share of £3.6 million of new funding to support jobs and touring, following campaigning by Musicians' Union members in the orchestra.

Published: 05 December 2024

Read more about MU Welcomes £3.6m Boost for Welsh Arts Sector
A Black male musician wearing a baseball cap singing into a microphone.

Have Your Say on the Value of Black British Music

Artists, creators and industry professionals working with Black British music are encouraged to take part in the survey to understand the value that the artform brings to the UK music industry.

Published: 04 December 2024

Read more about Have Your Say on the Value of Black British Music
Close up of two microphones on a mixing desk in a studio.

CIISA Launches Open Consultation of Standards for Creative Industries

The MU is encouraging all members to take part in the consultation (which runs until 27 January), to help set out the minimum standards of behaviour expected across the UK’s creative industries, to enable safe and inclusive working environments.

Published: 02 December 2024

Read more about CIISA Launches Open Consultation of Standards for Creative Industries