The Welsh Government’s Covid-19 commitment, put in place a programme of employment and skills support to help people back to work.
Part of this programme includes additional support for individuals considering self-employment. In addition to the existing start-up service, a grant to support unemployed individuals that face greater economic barriers to starting a business is being made available. This discretionary grant will help up to 600 individuals become self-employed or start a business, between December 2020 and March 2021.
The grant will be open to all unemployed individuals, however priority in allocating funding will be given to those most affected by the Covid-19 outbreak:
- Disabled people
- People from BAME backgrounds
- Young people not in education or training (NEETS) aged 18-24 or a College and University leaver in 2019 or 2020 (see full guidance notes)
Individuals will be able to apply for up to £2,000 to contribute towards the essential costs of starting a business. Applications will need to be supported by a business plan outlining the business proposal and costs associated with getting established. The grant will be managed through the Business Wales service.
Starting a business can be a challenging experience. All applicants will be required to register (hyperlink to campaign page below) with Business Wales to receive business support from one of our providers to help you consider the viability of your business idea and develop your business plan. Support is also available for from Big Ideas Wales, our Enterprise Hubs or Social Business Wales.
Full guidance is available here. The fund will open for applications on 1st December. Please use this time to prepare application and access support to develop your plan that will form a key part of the assessment.
The Business Wales Barriers Fund is open to applications until 19th March 2021, or sooner if funds are used up before that date.
Completed applications, supporting evidence and plan must be emailed to email@example.com.
For more information on the fund and the full eligibility criteria, please download the relevant guidance notes. The application will be available to download on 1st December 2020. If you have any questions and wish to speak to one of our team, please contact 03000 6 03000.