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Please find below details of a number of new funding schemes together with amendments to existing financial support initiatives, some of which may be of interest:
Self-Employment Income Support Scheme (SEISS) – Fourth Grant
Details about the fourth SEISS grant will be announced on Wednesday 3rd March 2021 and will be made available via the following link:
https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme
SME Brexit Support Fund
A SME Brexit Support Fund has been announced by the UK Government, which will aim to support small and medium sized businesses (SMEs) adjust to new customs, rules of origin, and VAT rules when trading with the EU, or moving goods between Great Britain and Northern Ireland.
SMEs (with up to 500 employees and no more than a £100 million annual turnover) established in the UK for 12 months prior to submitting an application (or who currently hold Authorised Economic Operator status) who are new to importing and exporting processes, will be able to apply for a grant of up to £2,000. Businesses will be able to use the grant for training on:
- How to complete customs declarations
- How to manage customs processes and use customs software and systems
- Specific import and export related aspects including VAT, excise and rules of origin
The grant could also be used for professional advice, which would help ensure a business meets its customs, excise, import VAT or safety and security declaration requirements.
To be eligible to apply for the grant businesses must:
- Complete (or intend to complete) import or export declarations internally for its own goods
- Use someone else to complete import or export declarations but requires additional capability internally to effectively import or export (such as advice on rules of origin or advice on dealing with a supply chain)
For further information, and to apply online when applications open, please follow the link below:
https://www.gov.uk/guidance/grants-to-help-small-and-medium-sized-businesses-new-to-importing-or-exporting
Business Flood Relief Fund
The Welsh Government have made a Flood Relief Fund available, which offers SMEs (including sole traders and micro businesses) in Wales financial support in the form of a £2,500 grant, to assist them to recover from damage and disruption caused by storms Bella and Christoph.
For full details and to access an application form, please follow the link below. Please note, the Business Flood Relief Fund is open to applications until 31 March 2021, funds permitting:
https://businesswales.gov.wales/business-flood-relief-fund
Changes to the Bounce Back Loan Scheme
Businesses that took out government-backed Bounce Back Loans to help them get through the COVID-19 pandemic will now have greater flexibility to repay their loans. In addition to the government covering the costs of interest for the first year of the loan the Chancellor’s Pay as You Grow repayment flexibilities now offer:
- The option to delay all repayments for a further six months, meaning businesses can choose to make no payments on their loans until 18 months after they originally took them out. The option to pause repayments will now be available to all from their first repayment, rather than after six repayments have been made.
- Borrowers the opportunity to extend the length of their loans from six to ten years (reducing monthly repayments by almost half) and make interest-only payments for six months, in order to tailor their repayment schedule to suit their individual circumstances.
If you already have a Bounce Back Loan but borrowed less than you were entitled to, you can top up your existing loan to your maximum amount. You must request the top-up by 31 March 2021.
For further information please follow the link below:
https://www.gov.uk/government/news/chancellor-eases-burden-on-more-than-a-million-businesses-through-pay-as-you-grow-flexible-repayment-options
The Bounce Back loan will remain open for applications until 31st March 2021, with the scheme looking to help small and medium-sized businesses, established before 1st March 2020 and adversely affected by the COVID-19 pandemic, to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000, with the UK Government guaranteeing 100% of the loan. After the initial interest free period, the interest rate will be set at 2.5%. For further information and to find a lender please follow the link below:
https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan
Changes to the Kickstart Scheme
The UK Government have removed the 30 job threshold from the Kickstart scheme. If you are an employer looking to create 29 or less jobs placements for young people, you’ll now be able to apply for funding online directly, although you can still choose to apply through a Kickstart gateway should you wish. As a brief reminder The Kickstart Scheme provides funding to create new job placements for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. Employers of all sizes can apply for funding which provides:
£1,500 per job placement
You’ll get £1,500 funding per job placement. This is for setup costs and to support the young person develop their employability skills. If someone else helps you to do some of this for you, you’ll have to agree how you will share this money.
Kickstart Scheme wages and related costs
The funding covers:
Please note; employers can pay a higher wage and for more hours but the funding will not cover this.
For full details please follow the link below:
https://www.gov.uk/guidance/apply-for-a-kickstart-scheme-grant
Eligible users of the NHS COVID-19 App who are asked to self-isolate can now apply for the £500 self-isolation payment
Eligible users of the NHS COVID-19 app who have been notified as being exposed to the virus, can now apply for the £500 self-isolation support payment. To qualify app users will need to meet the criteria of the main scheme and be:
- Employed or self-employed;
- unable to work from home and will lose income as a result; and
- (the applicant or their partner) are currently receiving, Universal Credit, Working Tax Credit, income-based Employment and Support Allowance, income-based Jobseeker’s Allowance, Income Support, Housing Benefit and/or Pension Credit; or
- Have their application accepted under the discretionary element of Self-Isolation Support Scheme.
For further information please follow the links below:
https://gov.wales/users-nhs-covid-19-app-now-eligible-apply-ps500-self-isolation-payment
https://gov.wales/self-isolation-support-scheme
Broadband competition for event venues
In August 2020, the UK government launched a new scheme to improve broadband connectivity in event venues, enabling them to receive full fibre access. The second round of the broadband competition is aimed at event venues with a minimum capacity of 250 delegates, with applications now being accepted until 2nd March 2021. Applicants can apply for a portion of £200,000 funding towards the costs of digital infrastructure for their venues, with the average grant value per project being approximately £30,000. For further information (including full eligibility criteria) and to apply please follow the link below:
https://www.gov.uk/guidance/broadband-competition-for-event-venues-round-two
MU Coronavirus Hardship Fund
In response to the widespread cancellation of work as a result of the Covid-19 pandemic, The Musicians Union (MU) have set up a £1 million hardship fund to support current members, affected by the cancellation of work as a result of the COVID-19 pandemic, who.
- is currently paying the full MU membership subscription rate, or joint MU / NEU membership subscription rate (either in full or by Direct Debit)
- holds a UK bank account into which the grant can be paid
- is suffering genuine hardship from loss of work due to the Coronavirus pandemic
- has not already successfully received a payment from the MU Coronavirus Hardship Fund
Initially, individual grants will be restricted to a maximum of £200.
For further information and to apply please follow the link below:
https://musiciansunion.org.uk/hardshipfund
PRS Foundation - Hitmaker Fund
Grants of between £5,000 and £10,000 are available for UK songwriters and producers working in popular music genres to further develop their careers and writing or production skills. Applications will be accepted from individuals with a professional track record as:
- Songwriters (behind the scenes creators of new music who do not also perform or produce).
- Producers (those working on production who contribute to the songwriting process and are acknowledged as writers).
Applicants must have at least five credited works registered with PRS for Music - this means a reputable cut / songs that have national radio plays / streaming plays / from a reputable writing camp. Applicants must also submit at least two commercially exploited works for consideration and advisors will listen to at least two submitted works.
For further information please follow the link below. The deadline for applications is 2 June 2021 (18:00 BST):
https://bit.ly/3uq1181
PRS Foundation - Power Up
The Power Up initiative supports exceptional Black talent on the creative side and behind the scenes in the music industry, providing grants and a development programme. Through the programme participants are helped to realise their potential and shape the future of music with support being offered as follows each year
- 20 x Black music creators
- Artists, songwriters, composers and producers who are involved in the creative process and may be working in any genre, based anywhere in the UK.
- 20 x Black executives and industry professionals
- Industry professionals working in any sector of the music industry, anywhere in the UK. This includes employees and entrepreneurs, freelancers and self-employed professionals.
Participants receive grant support of up to £15,000, access to mentoring and partners, marketing support and networking opportunities. For further information please follow the link below. The deadline for applications is 10 March 2021 (18:00 GMT):
https://bit.ly/3skGEHA
The Prospectory - Idea Fund
Grants of between £250 and £5,000 are available (once all available funds have been allocated the scheme will close for applications and re-open should additional funding be made available) to individuals or small groups or organisations based in the United Kingdom who have a novel technical idea which they want to try out. The grant cannot be used towards the cost of people's time or marketing / promotion costs. Applications will be accepted from individuals or small groups / organisations with proposals for projects that:
- Are based on a novel technical idea.
- Would deliver a social or environmental benefit.
- Are intriguing, inventive and have an element of fun.
To make an application please email alison@prospectory.co.uk the following information:
- Brief overview about yourself, your interests and experience.
- About your technical idea, why it is novel and who or what it could help.
- How you plan to make it and/or test it out.
- What funding you need and what it will cover.
- Your contact details and how you found out about the fund.
Further information can also be found via: https://theprospectory.com/idea-fund/
Restrictions Business Fund Reminder
The extension / second phase of the Restrictions Business Fund, which aims to provide financial support in the form of a grant (covering the period 25 January to the end of March 2021) to eligible businesses affected by the current COVID-19 restrictions in Wales, remains open. This fund makes the following two grants available via Wrexham County Borough Council for businesses based in Wrexham, with organisations that qualify being able to apply (where they need to do so) for one of the other:
A Non-Domestic Rate grant
This grant is available for the non-essential retail, hospitality, leisure and tourism sectors and some supply chain businesses, to the liable party (as of 1st September 2020 on the business rates system) for non-domestic rates at the premises. Further information can be found via the Business Wales website.
Our business rates team have informed us that businesses who received the previous Restrictions NDR Business Grant will see the second grant awarded to the same bank account during February. These businesses will not be required to re-register their details and the majority of these businesses should have been paid by 20 February 2021. The only people who qualify and will have to apply afresh for a grant are those who have not received the previous Restrictions NDR grant (i.e. businesses who may have only received the Firebreak NDR grant in October / November 2020 and / or the first NDR Grant awarded earlier in 2020 will need to apply). These businesses will be able to access an application form via the following link:
https://www.wrexham.gov.uk/service/covid-19-support-businesses/restrictions-business-fund
Should you have any queries about this grant please feel free to contact Wrexham County Borough Councils business rates team who are managing these applications: businessrates@wrexham.gov.uk
A Discretionary Grant
Subject to meeting the eligibility criteria you will be able to apply for the second phase of the Restrictions Discretionary Grant. This scheme provides successful applicants (on a first-come, first served basis) with a non-repayable payment of £2,000, until all the funding provided to Wrexham County Borough Council for this scheme, from the Welsh Government, has been fully committed. Please note businesses that qualify for the Non-Domestic Rate grant can’t apply for a Discretionary Grant.
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